Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Warehouses
3 Canal St Danvers, MA 01923-3102
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US38-0268737
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1965
Construction
STEEL FRAME
Total area
3,560 SF
Lot
0.58 ac (25,125 SF)
Zoning code
I1
APN
DANV M:051 L:313 P:
UPID
US38-0268737
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
-
James Chronis & Son Inc Landscaping General Contractor
-
Alternative Machine Tool Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$390k
CAP Approach
CAP
$705k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$540k
Owner & transaction history
Arjp Realty Mgmt LLC · 16 yrs held
Arjp Realty Mgmt LLC
since 2009
2 recorded transactions
Zoning & alternative use
I1 · Danvers, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$855,000
+70.4%
Retail stores
$790,000
+58.2%
Commercial (general)
$705,000
+40.8%
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 Danvers submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Danvers 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
$390,000
CAP Approach
CAP Return
Estimation
6%
$765,000
6.5%
$705,000
7%
$655,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$500,000
Current use
AUTO REPAIR, GARAGE
$855,000
Change: +70% · Conversion: Easy
RETAIL STORES
$790,000
Change: +58% · Conversion: Moderate
COMMERCIAL (GENERAL)
$705,000
Change: +41% · Conversion: Difficult
Blend value · Realmo final
$540k
Range $486k – $594k · ±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
$152 / 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
$12,016
Tax year 2024
Assessed value
$646,000
Assessed 2024
Previous assessed
$646,000
+0.0% YoY
Effective rate
1.86%
On assessed value
Assessed land
$490,500
Assessed improvement
$155,500
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1965
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Units
2
Bathrooms
3
Total area
3,560 SF
Lot
0.58 ac (25,125 SF)
Zoning code
I1
APN
DANV M:051 L:313 P:
UPID
US38-0268737
Jurisdiction
DANVERS
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
I1 · Danvers, MA
Zoning I1 · permitted uses
I1 · Danvers, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Danvers. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$500,000
AUTO REPAIR, GARAGE
Est. value
$855,000
RETAIL STORES
Est. value
$790,000
COMMERCIAL (GENERAL)
Est. value
$705,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (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
1965
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Units
2
Bathrooms
3
Lot
0.58 ac
Current owner
From public records · entity-resolved
Arjp Realty Mgmt LLC
Entity
Mailing address
3 CANAL ST, DANVERS, MA 01923-3102
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 27, 2009
$463,500
Arjp Realty Mgmt LLC
Adams,david H
Grant Deed
$430,000 · Gloucester Capital Bank
Jan 7, 2004
$1
David H Adams
Adams,david H
Grant Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3 Canal St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
