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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Office Spaces
260 Essex St Salem, MA 01970-3434
Individually Owned
3-yr Hold
Free & Clear
Property ID
US38-1401737
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1984
Construction
FRAME
Total area
1,650 SF
Lot
0.07 ac (3,157 SF)
Zoning code
B5
APN
SALE M:26 L:0646 S:801
UPID
US38-1401737
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
-
Wicked Good Books (Bike/Boat/Book/etc) Store
-
Steven A Corben Dental Office
-
Silly Bunny Toys (Bike/Boat/Book/etc) Store Arcade & Gaming Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$665k
CAP Approach
CAP
$755k
Comparable Approach
Comparable
$654k
Blend (final)
Blend
$655k
Owner & transaction history
Mcdonald Essex St T · 3 yrs held
Mcdonald Essex St T
since 2022
Last sale
$525,000
3 recorded transactions
Zoning & alternative use
B5 · Salem, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$655,000
ML approach
$665,000
CAP Approach
CAP Return
Estimation
6%
$820,000
6.5%
$755,000
7%
$700,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$475,000
Current use
COMMERCIAL (GENERAL)
$455,000
Change: -4% · Conversion: Easy
AUTO REPAIR, GARAGE
$395,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$655k
Range $590k – $721k · ±10% · vs last sale $525k (Jul 29 2022)
Last sale anchor
$525k
Jul 29 2022
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
$397 / 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
Tax billed
$10,163
Tax year 2024
Assessed value
$429,000
Assessed 2024
Previous assessed
$429,000
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed improvement
$429,000
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1984
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
12
Total area
1,650 SF
Lot
0.07 ac (3,157 SF)
Zoning code
B5
APN
SALE M:26 L:0646 S:801
UPID
US38-1401737
Jurisdiction
SALEM
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
B5 · Salem, MA
Zoning B5 · permitted uses
B5 · 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
OFFICE BUILDING Current
Est. value
$475,000
COMMERCIAL (GENERAL)
Est. value
$455,000
AUTO REPAIR, GARAGE
Est. value
$395,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1984
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
12
Lot
0.07 ac
Current owner
From public records · entity-resolved
Mcdonald Essex St T
Individual
Free & Clear · 3 yrs held
Mailing address
152 CTR ST, HOLBROOK, MA 02343-1011
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 29, 2022
$525,000
Mcdonald Essex St T
Tidal Wave Holdings LLC
Quit Claim Arm's Length For Ne States
—
Sep 6, 2017
—
Tidal Wave Holdings LLC
Corben,steven A
Quit Claim Deed
related
—
Mar 30, 1990
—
Steven A Corben
—
Deed Of Trust
related
$245,000 · First Colonial Bk Svg
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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