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254 2Nd Ave, Needham, MA 02494
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Property summary
AI-generated overview
254 Second Avenue is an approximately 86,906-square-foot suburban office building located in Needham’s innovation-focused area. The building is positioned with access to both north- and southbound lanes of I-95/Route 128 and is about a half mile from Exit 19A. It has been configured for office use by technology companies and includes on-site amenities such as a fitness center, grab-and-go food service, and renovated common areas. The property is also associated with nearby recreation opportunities, including nature trails, and it is served by local transit connections such as the 128 Business Council Shuttle providing access to the MBTA Green Line. Surrounding land uses include restaurants, retail, day care, and additional fitness options within walking distance or a short drive.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1954
Total area
87,161 SF
Lot
5.35 ac (233,046 SF)
Zoning code
I
APN
NEED M:300.0 B:0026 L:0000.0
UPID
US38-0230540
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Physician
-
Financial Advisor
-
Publishing House Newspaper & Magazine
-
Home Health Care Service Hospice
-
Business Management Consultant
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$31.39M
Comparable Approach
Comparable
$34.27M
Blend (final)
Blend
$32.07M
Owner & transaction history
since 2022
Last sale
$30.7M
7 recorded transactions
Zoning & alternative use
I · Needham, MA
Zoning description
The purpose of this district I is to promote Institutional uses.
General category
CIVIC_INSTITUTIONAL
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 3 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$32.07M
Value range
$28.86M – $35.28M
±10% around blend
Estimated value / SF
$368 / SF
Confidence
Low
3 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
30
$28.86M
blend $32.07M
$35.28M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
87,161 SF
Lot area
5.35 ac
Year built
1954
APN
NEED M:300.0 B:0026 L:0000.0
Zoning
I
Assessed value
$17,176,800
Annual tax
$422,034
3
Income approach: direct capitalization
Partial preview
Income approach indication
$31.39M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$34.01M
@ 6.5% CAP return
$31.39M
@ 7% CAP return
$29.15M
4
Sales comparison
Partial preview
Sales approach indication
$4.23M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
19.2 mi away · 105,166 SF
20.1 mi away · 81,169 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$32.07M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 37 sales
$503
-27%
County 351 sales
$293
+25%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $368/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
Implied cap rate
6.10%
Implied, in-place cap rate for this office buildings
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.10%
9.0%
NOI (est.)
$2.15M *
Last sale · Jun 2022
$30.65M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$35.17M
Move the market yield to see immediate price impact.
Value / SF
$404
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.60%6.10%6.60%
$1.93M
$34.48M
$31.65M
$29.26M
$2.15M
$38.31M
$35.17M
$32.51M
$2.36M
$42.14M
$38.69M
$35.76M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$3.14M
18.9 mi · Sep 2025 · $40/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$422,034
Tax year 2024
Assessed value
$17,176,800
Assessed 2024
Previous assessed
$15,714,200
+9.3% YoY
Effective rate
2.46%
On assessed value
Assessed land
$6,096,100
Assessed improvement
$11,080,700
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1954
Heating
NONE
Cooling
YES
Buildings
2
Total area
87,161 SF
Lot
5.35 ac (233,046 SF)
Zoning code
I
APN
NEED M:300.0 B:0026 L:0000.0
UPID
US38-0230540
Jurisdiction
NEEDHAM
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
I · Needham, MAZoning I · permitted uses
I · Needham, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The purpose of this district I is to promote Institutional uses.
General category
CIVIC_INSTITUTIONAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1954
Heating
NONE
Cooling
Yes
Buildings
2
Lot
5.35 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
I
CIVIC_INSTITUTIONAL
Jurisdiction
Needham, MA
Recorded code
I
Official district
I
Official district profile
What the municipal code says about I
Zoning description
The purpose of this district I is to promote Institutional uses.
General category
CIVIC_INSTITUTIONAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for I in Needham, MA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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