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    Property profile & analytics

    3 Centennial Dr Peabody, MA 01960-7931

    • Office buildings
    • 39,560 SF
    • 1.64 lot acres
    OFF-MARKET
    Value Estimations
    $3,105,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1227764
    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

    • Dr. Caroline Lawler / Physician / Medical Clinic
    • Winslow Evans & Crocker / Financial Advisor
    • Geo Vantage Inc / Professional Services
    • Senior Wyze Senior Care & Assisted Living Peabody MA / Nursing Home / Retirement Community
    • MRG Construction Management / General Contractor

    Property Details for 3 Centennial Dr

    Year built
    1990
    Construction
    FRAME
    Lot size
    1.64 lot acres
    Property size
    39,560 SF
    Zone code
    IP
    Property type
    Office buildings
    APN
    PEAB M:0090 B:0027-A
    APU
    PEABM0090B0027A

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,271,000
      Market price range: $3.53M - $9.84M
      AI Estimate
      $4,119,000
      Market price range: $2.11M - $11.6M

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

    Location Insight

    • Map
    • Local Demand
    City
    Peabody
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.9712
    Latitude
    42.5204
    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
    $60,269
    $909,600
    $2,291,100
    $3,200,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,340,000
      15,048 SF

      265 Newbury St

      OFFICE BUILDING • 15,048 SF
      265 Newbury St, Peabody, MA 01960-1315
      View Details
    • Value Estimation
      $620,000
      5,857 SF

      167 Washington St

      OFFICE BUILDING • 5,857 SF
      167 Washington St, Peabody, MA 01960-5423
      View Details
    • Value Estimation
      $7,470,000
      73,248 SF

      9 Centennial Dr

      OFFICE BUILDING • 73,248 SF
      9 Centennial Dr, Peabody, MA 01960-7939
      View Details
    • Value Estimation by Request
      2,664 SF

      494 Lowell St

      OFFICE BUILDING • 2,664 SF
      494 Lowell St, Peabody, MA 01960-1341
      View Details
    • Value Estimation
      $970,000
      14,400 SF

      484 Lowell St

      OFFICE BUILDING • 14,400 SF
      484 Lowell St, Peabody, MA 01960-7934
      View Details
    • Value Estimation
      $5,935,000
      95,114 SF

      2 Corporation Way

      OFFICE BUILDING • 95,114 SF
      2 Corporation Way, Peabody, MA 01960-7932
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      900 SF

      Peabody Office Condo For Sale

      900 SF office condo with exam rooms and office.
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      4,640 SF

      High-Visibility Commercial Building in Peabody

      Standalone commercial building in a strong retail corridor, excellent visibility.
      37 Margin St, Peabody, MA 01960
      View Details
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      Approved Condominium Development Opportunity

      Approved 22-unit condominium project near Route 114 in Peabody.
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    • Contact for pricing
      2,718 SF

      Restaurant and Parking Lot Package

      Two properties: restaurant and parking lot with development potential.
      48-49A Lowell St, Peabody, MA 01960
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    • $444,999

      16 Bourbon St, Peabody, MA 01960

      Commercial real estate
      16 Bourbon St, Peabody, MA 01960
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      18,297 SF

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      Professional office suite with natural light and loading docks.
      1 Corporation Way, Peabody, MA 01960
      View Details
    • $31 SF/Yr
      1,643 SF

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      Bright, flexible commercial suite with high visibility and ample parking.
      255 Andover St, Peabody, MA 01960
      View Details
    • $800 /Mo

      Downtown Peabody Office Suite

      Office suite in downtown Peabody, suitable for various uses.
      24 Main St, Peabody, MA 01960
      View Details
    • Contact for pricing
      1,864 SF

      Prime Commercial Space on Route 1

      High-visibility space ideal for retail, office, or medical use.
      8 Bourbon St, Peabody, MA 01960
      View Details
    • Contact for pricing
      9,750 SF

      Renovated Mill Building with Flexible Space

      Three-story mill building with modern renovated space and flexible lease terms.
      119R Foster St, Peabody, MA 01960
      View Details
    • Contact for pricing
      3,000 SF

      Peabody Office Space For Rent

      Office space with flexible floor plans and ample parking.
      5 Centennial Dr, Peabody, MA 01960
      View Details
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    3 Centennial Dr
    Peabody, MA 01960-7931
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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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