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Property profile & analytics
OFF-MARKET
Estimated value
$6,720,000
Retail space
272 Highland Ave Salem, MA 01970-1832
Entity Owned
4-yr Hold
Free & Clear
Property ID
US38-1777808
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2008
Construction
STEEL FRAME
Total area
12,500 SF
Lot
1.63 ac (70,911 SF)
Zoning code
B2
APN
SALE M:08 L:0100
UPID
US38-1777808
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
-
Santander Bank ATM Atm
-
Centercorp Retail Properties Real Estate Agency
-
CVS Pharmacy
-
CVS Pharmacy Pharmacy
-
CVS Photo (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.20M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.12M
Blend (final)
Blend
$6.72M
Owner & transaction history
Chateau Regale Assoc LLC · 4 yrs held
Chateau Regale Assoc LLC
since 2022
Last sale
$6.5M
5 recorded transactions
Zoning & alternative use
B2 · Salem, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.3M
+55.2%
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
$6,775,000
ML approach
$7,200,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$4,315,000
Change: +55% · Conversion: Easy
Blend value · Realmo final
$6.72M
Range $6.05M – $7.39M · ±10% · vs last sale $6.45M (Apr 19 2022)
Last sale anchor
$6.45M
Apr 19 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
$538 / 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
$74,936
Tax year 2024
Assessed value
$3,163,200
Assessed 2024
Previous assessed
$3,163,200
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed land
$1,659,300
Assessed improvement
$1,503,900
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2008
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
2
Total area
12,500 SF
Lot
1.63 ac (70,911 SF)
Zoning code
B2
APN
SALE M:08 L:0100
UPID
US38-1777808
Jurisdiction
SALEM
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
B2 · Salem, MA
Zoning B2 · permitted uses
B2 · 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
RESTAURANT
Est. value
$4.3M
RESTAURANT
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
2008
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
2
Lot
1.63 ac
Current owner
From public records · entity-resolved
Chateau Regale Assoc LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1 CVS DR, WOONSOCKET, RI 02895-6146
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2022
$6,451,667
Chateau Regale Assoc LLC
R&k Highmar LLC
Quit Claim Arm's Length For Ne States
—
May 14, 2012
—
Rk Highmar LLC
—
Deed Of Trust
related
$1,000,000 · United Bank
Oct 16, 2009
—
Rk Highmar LLC
—
Deed Of Trust
related
$1,000,000 · Beverly National Bank
Jul 3, 2008
$1
R K Highmar LLC
Tcl Dev LLC
Grant Deed
—
Aug 13, 1992
—
Tri City Realty INC
—
Deed Of Trust
related
$700,000 · General Electric Capital 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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