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Property profile & analytics
OFF-MARKET
Estimated value
$605,000
Investment properties
271 Main St Reading, MA 01867-3603
Entity Owned
3-yr Hold
Property ID
US38-1176665
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1910
Construction
STONE
Total area
1,914 SF
Lot
0.17 ac (7,427 SF)
Zoning code
BUSA
APN
READ M:012.0-0000-0041.0
UPID
US38-1176665
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
-
Pet Companions Bed & Biscuit Kennel & Boarding Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$620k
CAP Approach
CAP
$485k
Comparable Approach
Comparable
$607k
Blend (final)
Blend
$605k
Owner & transaction history
271 Main Street LLC · 3 yrs held
271 Main Street LLC
since 2023
Last sale
$600,000
6 recorded transactions
Zoning & alternative use
BUSA · Reading, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$540,000
+8.9%
Neighborhood: shopping center
$530,000
+7.2%
Retail stores
$515,000
+4.3%
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 Reading submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Reading 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
$650,000
ML approach
$620,000
CAP Approach
CAP Return
Estimation
6%
$525,000
6.5%
$485,000
7%
$450,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$495,000
Current use
AUTO REPAIR, GARAGE
$540,000
Change: +9% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$530,000
Change: +7% · Conversion: Difficult
RETAIL STORES
$515,000
Change: +4% · Conversion: Easy
OFFICE BUILDING
$420,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$605k
Range $545k – $666k · ±10% · vs last sale $600k (Jun 20 2023)
Last sale anchor
$600k
Jun 20 2023
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
$316 / 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 2017Property tax & assessments
Tax year 2017
Tax billed
$5,716
Tax year 2017
Assessed value
$679,400
Assessed 2024
Previous assessed
$679,400
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$367,600
Assessed improvement
$311,800
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1910
Construction
STONE
Heating
HOT WATER
Buildings
1
Stories
3
Units
2
Rooms
11
Bathrooms
2
Total area
1,914 SF
Lot
0.17 ac (7,427 SF)
Zoning code
BUSA
APN
READ M:012.0-0000-0041.0
UPID
US38-1176665
Jurisdiction
READING
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
BUSA · Reading, MAZoning BUSA · permitted uses
BUSA · Reading, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$495,000
AUTO REPAIR, GARAGE
Est. value
$540,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$530,000
RETAIL STORES
Est. value
$515,000
OFFICE BUILDING
Est. value
$420,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
OFFICE BUILDING
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
STONE
Heating
HOT WATER
Stories
3
Buildings
1
Units
2
Rooms
11
Bathrooms
2
Lot
0.17 ac
Current owner
From public records · entity-resolved
271 Main Street LLC
Entity
Mailing address
271 MAIN ST, READING, MA 01867-3603
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2023
—
271 Main Street LLC
—
Deed
related
$211,000 · Granite State Economic Development Corp
Jun 20, 2023
$600,000
271 Main Street LLC
Judith Basteri
Quit Claim Arm's Length For Ne States
$295,000 · Rockland Trust Co
Apr 29, 2021
—
Judith Basteri
Anton Melchionda
Quit Claim Deed
related
—
Jul 20, 2007
—
Anton Melchionda
—
Deed Of Trust
related
$315,000 · Greenpoint Mortgage Funding
Apr 13, 2007
$1
Anton Melchionda
Basteri,judith
Grant Deed
—
Jan 24, 2002
$305,000
Judith Basteri
Mailnot,ruth L
Grant Deed
$213,500 · Slm Financial Corp
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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