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Property profile & analytics
OFF-MARKET
Estimated value
$8,450,000
Investment properties
278-282 Derby St, Salem, MA 01970
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-0645620
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Construction
STEEL FRAME
Total area
29,190 SF
Lot
0.67 ac (29,333 SF)
Zoning code
B5
APN
SALE M:35 L:0267
UPID
US38-0645620
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
$8.92M
CAP Approach
CAP
$9.10M
Comparable Approach
Comparable
$11.12M
Blend (final)
Blend
$8.45M
Owner & transaction history
Ww 282 Derby Street LLC · 3 yrs held
Ww 282 Derby Street LLC
since 2022
Last sale
$8.5M
7 recorded transactions
Zoning & alternative use
B5 · Salem, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$10.1M
+24.8%
Apartment house (5+ units)
$9.3M
+15.6%
Office building
$8.4M
+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
$7,295,000
ML approach
$8,920,000
CAP Approach
CAP Return
Estimation
6%
$9,850,000
6.5%
$9,095,000
7%
$8,445,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$8,075,000
Current use
RESTAURANT
$10,075,000
Change: +25% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$9,335,000
Change: +16% · Conversion: Moderate
OFFICE BUILDING
$8,375,000
Change: +4% · Conversion: Easy
AUTO REPAIR, GARAGE
$6,990,000
Change: -13% · Conversion: Difficult
RETAIL STORES
$6,490,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$8.45M
Range $7.61M – $9.30M · ±10% · vs last sale $8.48M (Oct 19 2022)
Last sale anchor
$8.48M
Oct 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
$289 / 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
$7,033,600
Assessed 2024
Previous assessed
$7,033,600
+0.0% YoY
Assessed land
$1,199,400
Assessed improvement
$5,834,200
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
1900
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
3
Units
9
Rooms
34
Bathrooms
10
Total area
29,190 SF
Lot
0.67 ac (29,333 SF)
Zoning code
B5
APN
SALE M:35 L:0267
UPID
US38-0645620
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
COMMERCIAL (GENERAL) Current
Est. value
$8.1M
RESTAURANT
Est. value
$10.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.3M
OFFICE BUILDING
Est. value
$8.4M
AUTO REPAIR, GARAGE
Est. value
$7.0M
RETAIL STORES
Est. value
$6.5M
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
1900
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Units
9
Rooms
34
Bathrooms
10
Lot
0.67 ac
Current owner
From public records · entity-resolved
Ww 282 Derby Street LLC
Entity
Mailing address
303 CONGRESS ST, BOSTON, MA 02210-1012
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
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 19, 2022
$8,475,000
Ww 282 Derby Street LLC
Rcg 282 Derby Street LLC
Quit Claim Arm's Length For Ne States
$6,356,250 · Everett Cooperative Bank
Mar 6, 2020
$5,800,000
Rcg 282 Derby Street LLC
350 RT
Quit Claim Arm's Length For Ne States
$3,500,000 · Hingham Institution For Savings
Oct 12, 2018
—
350 RT
—
Deed
related
$200,000 · Marblehead Savings Bank
Sep 28, 2012
—
350 RT
—
Deed Of Trust
related
$400,000 · Marblehead Savings Bank
May 10, 2012
$1
350 RT
Osgood,george K
Grant Deed
related
—
Jan 20, 2012
$1
350 RT
Osgood,george K
Grant Deed
related
—
Jan 18, 2012
—
George K Osgood
—
Deed Of Trust
related
$1,400,000 · Marblehead Savings Bank
Oct 22, 2002
—
George K Osgood
—
Deed Of Trust
related
$525,000 · National Grand Bank Marblhd
Jan 7, 2002
—
George K Osgood
—
Deed Of Trust
related
$250,000 · National Grand Bank Marblhd
Jul 8, 1999
—
George K Osgood
—
Deed Of Trust
related
$700,000 · Marblehead Savings Bank
Sep 19, 1990
—
George K Osgood
—
Deed Of Trust
related
$705,000 · Heritage Cp Bank
Jul 5, 1989
—
George K Osgood
—
Deed Of Trust
related
$500,000 · Heritage Cp Bank
Jun 22, 1988
—
George K Osgood
—
Deed Of Trust
related
$500,000 · Heritage Cp 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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