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Property profile & analytics
OFF-MARKET
Estimated value
$5,365,000
Investment properties
256 Washington St, Salem, MA 01970-3641
Entity Owned
5-yr Hold
Property ID
US38-1088635
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1910
Construction
STEEL FRAME
Total area
25,880 SF
Lot
0.19 ac (8,398 SF)
Zoning code
R3
APN
SALE M:34 L:0285
UPID
US38-1088635
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Record Exchange (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.28M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.73M
Blend (final)
Blend
$5.37M
Owner & transaction history
256 Wa LLC · 5 yrs held
256 Wa LLC
since 2020
Last sale
$5.4M
5 recorded transactions
Zoning & alternative use
R3 · Salem, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.9M
+24.8%
Apartment house (5+ units)
$8.3M
+15.6%
Office building
$7.4M
+3.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$5,130,000
ML approach
$6,275,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$7,160,000
Current use
RESTAURANT
$8,930,000
Change: +25% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$8,275,000
Change: +16% · Conversion: Moderate
OFFICE BUILDING
$7,425,000
Change: +4% · Conversion: Easy
AUTO REPAIR, GARAGE
$6,200,000
Change: -13% · Conversion: Difficult
RETAIL STORES
$5,755,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$5.37M
Range $4.83M – $5.90M · ±10% · vs last sale $5.35M (Aug 21 2020)
Last sale anchor
$5.35M
Aug 21 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$207 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Assessed value
$5,480,500
Assessed 2024
Previous assessed
$5,480,500
+0.0% YoY
Assessed land
$2,117,000
Assessed improvement
$3,363,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1910
Construction
STEEL FRAME
Heating
HOT WATER
Buildings
1
Stories
4
Units
25
Rooms
68
Bathrooms
29
Total area
25,880 SF
Lot
0.19 ac (8,398 SF)
Zoning code
R3
APN
SALE M:34 L:0285
UPID
US38-1088635
Jurisdiction
SALEM
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
R3 · Salem, MA
Zoning R3 · permitted uses
R3 · Salem, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$7.2M
RESTAURANT
Est. value
$8.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.3M
OFFICE BUILDING
Est. value
$7.4M
AUTO REPAIR, GARAGE
Est. value
$6.2M
RETAIL STORES
Est. value
$5.8M
COMMERCIAL (GENERAL) Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1910
Construction
STEEL FRAME
Heating
HOT WATER
Stories
4
Buildings
1
Units
25
Rooms
68
Bathrooms
29
Lot
0.19 ac
Current owner
From public records · entity-resolved
256 Wa LLC
Entity
Mailing address
39 DODGE ST #312, BEVERLY, MA 01915-1735
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2020
—
256 Wa LLC
—
Deed
related
$3,378,000 · Cbre Capital Markets INC
Aug 21, 2020
$5,350,000
256 Wa LLC
Rcg Wa Pond LLC
Quit Claim Deed
—
Dec 4, 2014
$3,000,000
Rcg Washington Pond LLC
H L RT
Quit Claim Arm's Length For Ne States
$2,100,000 · Belmont Savings Bank
Nov 15, 2001
—
Hal RT
—
Deed Of Trust
related
$600,000 · Heritage Cp Bank
Sep 13, 1995
—
Hal RT
—
Deed Of Trust
related
$475,000 · Gary Needham
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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