Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    291 Main St North Reading, MA 01864-1301

    • Industrial properties
    • 14,229 SF
    • 2.32 lot acres
    OFF-MARKET
    Value Estimations
    $2,995,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0845923
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Inertia Dental / Dental Office
    • Trusted Insurance Agency MA / Insurance Agency
    • Judith Marcovici / Dental Office

    Property Details for 291 Main St

    Lot size
    2.32 lot acres
    Property size
    14,229 SF
    Zone code
    RB
    Property type
    Industrial properties
    APN
    NREA M:012.0 B:0000 L:0163.0
    APU
    NREAM0120B0000L01630

    Description

    This exceptional 2,012 square foot retail space is ideally situated on Route 28 in North Reading, Massachusetts, offering unparalleled visibility and accessibility. Located in a thriving commercial area, this single-tenant space is currently a "vanilla box," providing a blank canvas for customization to suit a variety of retail or office uses. Its prime location ensures high foot traffic and excellent brand exposure. The property benefits from adjacency to a high-performing Dunkin', maximizing visibility and attracting customers from a well-established clientele. Nearby, a strong concentration of popular businesses such as Starbucks, Orange Theory Fitness, Pet Supplies Plus, Supercuts, and StretchLab, creates a synergistic environment and a robust customer base. The property also offers the significant advantage of pylon signage, further enhancing its marketing potential and brand recognition. This presents a unique opportunity for businesses seeking a highly visible and convenient location to establish or expand their operations in a bustling commercial hub. The space's adaptable nature makes it suitable for a wide range of retail concepts or office setups, providing flexibility for potential tenants. This is a rare opportunity to secure a prime retail location in a high-traffic area with excellent visibility and strong neighboring businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,525,000
      6.5%
      $2,330,000
      7%
      $2,160,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,616,000
      Market price range: $1.22M - $3.62M
      AI Estimate
      $3,043,000
      Market price range: $866k - $3.04M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $2,185,000
      Current use
      RESTAURANT
      $4,130,000
      Change: +89% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $4,005,000
      Change: +83% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $3,940,000
      Change: +81% Conversion: Difficult
      RETAIL STORES
      $3,835,000
      Change: +76% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $3,675,000
      Change: +68% Conversion: Difficult
      OFFICE BUILDING
      $3,450,000
      Change: +58% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $3,280,000
      Change: +50% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    North Reading
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.1183
    Latitude
    42.5946
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $67,115
    $656,700
    $4,423,900
    $5,080,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,000 SF

      7 Bow St, Unit 6

      CONDOMINIUMS (INDUSTRIAL) • 1,000 SF
      7 Bow St, North Reading, MA 01864-2574
      View Details
    • Value Estimation by Request
      1,065 SF

      92 Concord St, Unit 3

      CONDOMINIUMS (INDUSTRIAL) • 1,065 SF
      92 Concord St, North Reading, MA 01864-2643
      View Details
    • Value Estimation by Request
      987 SF

      126 Main St Ste, Unit 3

      CONDOMINIUMS (INDUSTRIAL) • 987 SF
      126 Main St Ste, North Reading, MA 01864-2294
      View Details
    • Value Estimation by Request
      1,108 SF

      92 Concord St, Unit 4

      CONDOMINIUMS (INDUSTRIAL) • 1,108 SF
      92 Concord St, North Reading, MA 01864-2643
      View Details
    • Value Estimation by Request
      1,105 SF

      92 Concord St, Unit 6

      CONDOMINIUMS (INDUSTRIAL) • 1,105 SF
      92 Concord St, North Reading, MA 01864-2643
      View Details
    • Value Estimation by Request
      858 SF

      92 Concord St, Unit 13

      CONDOMINIUMS (INDUSTRIAL) • 858 SF
      92 Concord St, North Reading, MA 01864-2643
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      North Reading Office Condominium

      Well-maintained office condo with updated kitchenette and newer HVAC.
      350 Park St, North Reading, MA 01864
      View Details
    • Contact for pricing

      Retail Space Near Major Shopping

      Retail property for sale or lease near shopping and amenities.
      97 Main St, North Reading, MA 01864
      View Details
    • Contact for pricing
      31,524 SF

      Retail Space in North Reading

      Retail property with pad site available in North Reading.
      97 Main St, North Reading, MA 01864
      View Details
    • Contact for pricing

      Updated Triplex in North Reading

      Rare, updated three-family property near schools and amenities.
      114 Haverhill St, North Reading, MA 01864
      View Details
    • Contact for pricing

      Equestrian Property with Barn and Home

      2.8-acre equestrian property with barn, paddock, and updated home.
      241 Haverhill St, North Reading, MA 01864
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      30,400 SF

      North Reading Industrial Space

      Industrial space with direct Interstate 93 access, near Boston.
      35-37 Concord St, North Reading, MA 01864
      View Details
    • $5,800 /Mo

      New Warehouse Space Available

      New warehouse building with one remaining bay for rent.
      14R Concord St, North Reading, MA 01864
      View Details
    • Contact for pricing
      40,280 SF

      Industrial Truck Terminal & Repair

      40,000 SF industrial truck terminal and repair garage for lease.
      North Reading, MA 01864
      View Details
    • Contact for pricing

      Medical/Office/Retail Space in North Reading

      Turn-key medical/office/retail space in ideal North Reading location.
      178 Park St, North Reading, MA 01864
      View Details
    • $1,200 /Mo

      Versatile Office Space Available

      Office space for rent, suitable for various business uses.
      112 Haverhill St, North Reading, MA 01864
      View Details
    • $3,500 /Mo

      Route 28 Retail/Office Space

      1,056 SF retail/office space with yard and basement storage.
      170 Main St, North Reading, MA 01864
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    291 Main St
    North Reading, MA 01864-1301
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.