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Property profile & analytics
OFF-MARKET
Estimated value
$1,545,000
Investment properties
290 Broadway Methuen, MA 01844-6827
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US38-1801158
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1853
Construction
FRAME
Total area
12,096 SF
Lot
0.16 ac (6,882 SF)
Zoning code
CBD
APN
METH M:00612 B:00121 L:00001
UPID
US38-1801158
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
-
TopNotch Homes, LLC Construction Company General Contractor
-
Aries Electrical Service And Controls Electrical Service General Contractor
-
Ultratec Inc Big Box & Wholesale Store Building Supply
-
DJ Diva Theater & Performing Art Venue Nightclub
-
AIM Commercial Cleaning Services Commercial Cleaning Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.47M
Blend (final)
Blend
$1.55M
Owner & transaction history
Pena Real Estate&invests · 7 yrs held
Pena Real Estate&invests
since 2019
7 recorded transactions
Zoning & alternative use
CBD · Methuen, MA
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 Methuen submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Methuen 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
COMMERCIAL (GENERAL)
$2,220,000
Current use
OFFICE BUILDING
$2,050,000
Change: -8% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,980,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$1.55M
Range $1.39M – $1.70M · ±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
$128 / 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
$863,300
Assessed 2024
Previous assessed
$821,300
+5.1% YoY
Assessed land
$128,400
Assessed improvement
$734,900
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
1853
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
3
Units
6
Rooms
8
Bathrooms
6
Total area
12,096 SF
Lot
0.16 ac (6,882 SF)
Zoning code
CBD
APN
METH M:00612 B:00121 L:00001
UPID
US38-1801158
Jurisdiction
METHUEN
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
CBD · Methuen, MA
Zoning CBD · permitted uses
CBD · Methuen, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Methuen. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.1M
INDUSTRIAL (GENERAL)
Est. value
$2.0M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
INDUSTRIAL (GENERAL)
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
1853
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Units
6
Rooms
8
Bathrooms
6
Lot
0.16 ac
Current owner
From public records · entity-resolved
Pena Real Estate&invests
Individual
Mailing address
290 BROADWAY, METHUEN, MA 01844-6827
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 26, 2021
—
Pena Rlty&invs LLC
—
Deed
related
$750,000 · Methuen Cooperative Bank
Jul 15, 2019
$825,000
Pena Real Estate&invests
Brimart LLC
Quit Claim Arm's Length For Ne States
$325,000 · Brimart LLC
Nov 1, 2013
—
Brimart LLC
—
Deed Of Trust
related
$500,000 · Enterprise Bank & Trust
Mar 10, 2009
—
Brimart LLC
—
Deed Of Trust
related
$25,000 · River Bank
Oct 31, 2008
$550,000
Brimart LLC
Kiddys T
Grant Deed
$350,000 · River Bank
Sep 30, 2004
—
T Kiddys
—
Deed Of Trust
related
$6,000,000 · Citizens Bank
Jul 9, 2004
—
T Kiddys
—
Deed Of Trust
related
$6,000,000 · Citizens Bank
Jan 17, 2003
$135,000
Jeff Petit-bois
Parish Of Sacred Heart
Grant Deed
$85,000 · Phoenix Financial Co
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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