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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    298 Main St Wilmington, MA 01887-2342

    • Retail properties
    • 2,940 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $650,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1559496
    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

    • La Moon Thai Spa Wilmington / Alternative Medicine Practice / Spa & Massage Center
    • Salon Essence / Hair Salon / Nail Salon

    Property Details for 298 Main St

    Year built
    2010
    Construction
    FRAME
    Lot size
    0.46 lot acres
    Property size
    2,940 SF
    Property type
    Retail properties
    APN
    WILM M:0043 L:0000 P:0009
    APU
    WILMM0043L0000P0009

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $705,000
      6.5%
      $650,000
      7%
      $605,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $403,000
      Market price range: $115k - $438k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $795,000
      Current use
      AUTO REPAIR, GARAGE
      $825,000
      Change: +4% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $815,000
      Change: +3% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $760,000
      Change: -4% Conversion: Easy
      OFFICE BUILDING
      $645,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.178
    Latitude
    42.5521
    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
    $18,977
    $346,400
    $377,100
    $723,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,765,000
      15,257 SF

      1 Church St

      DEPARTMENT STORE • 15,257 SF
      1 Church St, Wilmington, MA 01887-2780
      View Details
    • Value Estimation
      $925,000
      10,520 SF

      4 Middlesex Ave

      DEPARTMENT STORE • 10,520 SF
      4 Middlesex Ave, Wilmington, MA 01887-2714
      View Details
    • Value Estimation
      $6,065,000
      52,699 SF

      211 Lowell St

      DEPARTMENT STORE • 52,699 SF
      211 Lowell St, Wilmington, MA 01887-3014
      View Details
    • Value Estimation
      $2,695,000
      15,392 SF

      277 Main St

      DEPARTMENT STORE • 15,392 SF
      277 Main St, Wilmington, MA 01887-2321
      View Details
    • Value Estimation by Request
      308 SF

      140 Lowell St

      NURSERY, GREENHOUSE, FLORIST • 308 SF
      140 Lowell St, Wilmington, MA 01887-2947
      View Details
    • Value Estimation
      $3,020,000
      15,040 SF

      208 Main St

      DEPARTMENT STORE • 15,040 SF
      208 Main St, Wilmington, MA 01887-2341
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      75-Acre Land Site, Wilmington, MA

      75-acre land site with residential and industrial zoning.
      923 Main St, Wilmington, MA 01887
      View Details
    • Contact for pricing
      156,276 SF

      Boston Light Industrial Portfolio

      Four light industrial assets totaling 156,276 square feet.
      26 Upton Dr, Wilmington, MA 01887
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,331 SF

      Wilmington Retail Space For Lease

      Prime Main Street Retail Opportunity
      208 Main St, Wilmington, MA 01887
      View Details
    • Contact for pricing

      Retail Space at Signalized Intersection

      Retail opportunity in new development with high traffic count.
      Wilmington, MA 01887
      View Details
    • Contact for pricing
      6,000 SF

      Retail Space Near Target Store

      New retail development near Route 125 and a Target store.
      206 Ballardvale St, Wilmington, MA 01887
      View Details
    • $5,000 /Mo
      1,300 SF

      Retail and Office Space Available

      Retail and office space for rent in Wilmington, MA.
      520 Main St, Wilmington, MA 01887
      View Details
    • Contact for pricing

      Single-Story Office/R&D Building For Rent

      Single-story office and R&D building with clean rooms and cafeteria.
      100-110 Fordham Rd, Wilmington, MA 01887
      View Details
    • $12 SF/Yr
      28,000 SF

      Furnished Flex/Office Space Available

      Fully furnished flex/office space with modern amenities and ample parking.
      205 Lowell St, Wilmington, MA 01887
      View Details
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    298 Main St
    Wilmington, MA 01887-2342
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    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
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