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Property profile & analytics
OFF-MARKET
Estimated value
$7,355,000
Office buildings
261 Medford St Somerville, MA 02143
Individually Owned
35-yr Hold
~
Est. High Equity
Property ID
US38-0623065
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
27,244 SF
Lot
0.6 ac (26,295 SF)
Zoning code
BB
APN
SOME M:79 B:F L:15
UPID
US38-0623065
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.36M
Owner & transaction history
Red T Firehouse · 35 yrs held
Red T Firehouse
since 1990
4 recorded transactions
Zoning & alternative use
BB · Somerville, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.9M
+32.6%
Auto repair, garage
$7.7M
+28.6%
Neighborhood: shopping center
$7.6M
+26.6%
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 Somerville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Somerville 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,965,000
Current use
RESTAURANT
$7,910,000
Change: +33% · Conversion: Moderate
AUTO REPAIR, GARAGE
$7,670,000
Change: +29% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$7,550,000
Change: +27% · Conversion: Difficult
RETAIL STORES
$7,345,000
Change: +23% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$6,275,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$7.36M
Range $6.62M – $8.09M · ±10%
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
$270 / 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
$52,354
Tax year 2024
Assessed value
$2,876,600
Assessed 2024
Previous assessed
$2,876,600
+0.0% YoY
Effective rate
1.82%
On assessed value
Assessed land
$833,000
Assessed improvement
$2,043,600
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Buildings
1
Stories
6
Units
12
Total area
27,244 SF
Lot
0.6 ac (26,295 SF)
Zoning code
BB
APN
SOME M:79 B:F L:15
UPID
US38-0623065
Jurisdiction
SOMERVILLE
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
BB · Somerville, MA
Zoning BB · permitted uses
BB · Somerville, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Somerville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$6.0M
RESTAURANT
Est. value
$7.9M
AUTO REPAIR, GARAGE
Est. value
$7.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.6M
RETAIL STORES
Est. value
$7.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.3M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
6
Buildings
1
Units
12
Lot
0.6 ac
Current owner
From public records · entity-resolved
Red T Firehouse
Individual
Mailing address
12 LANGLEY RD, ARLINGTON, MA 02474-2222
Ownership since
1990
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 18, 2004
—
Diperna,anthony J
—
Grant Deed
related
$1,150,000 · Beverly National Bank
Aug 31, 2001
—
Medford T Central
—
Deed Of Trust
related
$1,200,000 · Bay State Federal Savings Bank
May 24, 1991
—
Central Medfordt
—
Deed Of Trust
related
$1,270,000 · Somerset Savings Bank
Nov 21, 1990
$175,000
Red T Firehouse
Gammon Clarence I Est
Grant Deed
$140,000 · Somerset Savings Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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