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Property profile & analytics
OFF-MARKET
Estimated value
$4,555,000
Office buildings
289 2nd Ave, Waltham, MA 02451-1122
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US38-1751516
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1968
Construction
STEEL FRAME
Total area
18,000 SF
Lot
1.03 ac (45,002 SF)
APN
WALT M:039 B:001 L:0013
UPID
US38-1751516
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
$6.32M
Blend (final)
Blend
$4.56M
Owner & transaction history
Bear Hill Rd 2nd Ave LLC · 9 yrs held
Bear Hill Rd 2nd Ave LLC
since 2017
7 recorded transactions
Zoning & alternative use
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 Waltham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waltham 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
$5,745,000
Current use
COMMERCIAL (GENERAL)
$5,230,000
Change: -9% · Conversion: Easy
RESTAURANT
$5,225,000
Change: -9% · Conversion: Moderate
AUTO REPAIR, GARAGE
$5,065,000
Change: -12% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,985,000
Change: -13% · Conversion: Difficult
RETAIL STORES
$4,850,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$4.56M
Range $4.10M – $5.01M · ±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
$253 / 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
$84,735
Tax year 2024
Assessed value
$4,091,500
Assessed 2024
Previous assessed
$4,091,500
+0.0% YoY
Effective rate
2.07%
On assessed value
Assessed land
$1,870,300
Assessed improvement
$2,221,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1968
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
4
Total area
18,000 SF
Lot
1.03 ac (45,002 SF)
APN
WALT M:039 B:001 L:0013
UPID
US38-1751516
Jurisdiction
WALTHAM
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
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
OFFICE BUILDING Current
Est. value
$5.7M
COMMERCIAL (GENERAL)
Est. value
$5.2M
RESTAURANT
Est. value
$5.2M
AUTO REPAIR, GARAGE
Est. value
$5.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.0M
RETAIL STORES
Est. value
$4.9M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1968
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
4
Lot
1.03 ac
Current owner
From public records · entity-resolved
Bear Hill Rd 2nd Ave LLC
Entity
Mailing address
107 AUDUBON RD STE #2, WAKEFIELD, MA 01880-1245
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 12, 2017
$4,211,000
Bear Hill Rd 2nd Ave LLC
Sps 2nd Avenue LLC
Quit Claim Deed
$9,000,000 · Property & Cslty Init
Feb 26, 2013
—
Sps 2nd Avenue LLC
—
Deed Of Trust
related
$1,020,000 · Bay Colony Dev Corp
Aug 31, 2012
$200,000
Sps 2nd Avenue LLC
Chiron Props LLC
Grant Deed
$1,237,500 · Brookline Savings Bank
Aug 31, 2012
—
Sps 2nd Avenue LLC
—
Deed Of Trust
$990,000 · Brookline Savings Bank
Aug 31, 2012
$2,000,000
Sps 2nd Avenue LLC
Chiron Properties LLC
Quit Claim Deed
$990,000 · Brookline Savings Bank
Nov 2, 2011
—
Chiron Props LLC
—
Deed Of Trust
related
$2,400,000 · Middlesex Savings Bank
Jun 19, 2008
—
Chiron Prop LLC
—
Deed Of Trust
related
$1,999,000 · Granite State Mortgage Corp
Nov 7, 2007
$2,525,000
Chiron Properties LLC
283-293 2nd Avenue RT
Grant Deed
$2,250,000 · Middlesex Savings Bank
Nov 7, 2007
—
Chiron Properties LLC
—
Grant Deed
related
$1,800,000 · Middlesex Savings Bank
Feb 16, 2001
$44,685,000
Waltham Rlty LLC
Cc&f 2nd Ave LLC
Grant Deed
—
Apr 2, 1998
$1,275,000
283-293 Second Ave RT
Pennock Co
Grant Deed
—
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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