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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Medical Office Space
31 Wellesley Ave, Needham, MA 02494-1821
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US38-0960211
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2005
Total area
9,134 SF
Lot
0.44 ac (19,036 SF)
Zoning code
SRB
APN
NEED M:090.0 B:0011 L:0001.0
UPID
US38-0960211
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
-
Highland Animal Hospital Veterinary Clinic
-
Highland Animal Hospital: Mahoney Reilly K DVM Veterinary Clinic
-
Highland Animal Hospital: Floyd Susan T DVM Veterinary Clinic
-
Highland Animal Hospital: Kennedy Christopher DVM Veterinary Clinic
-
Highland Animal Hospital: Dunnavant Artise DVM Veterinary Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$590k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$859k
Blend (final)
Blend
$725k
Owner & transaction history
Highland Animal Realty · 10 yrs held
Highland Animal Realty
since 2015
5 recorded transactions
Zoning & alternative use
SRB · Needham, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.1M
+8.8%
Auto repair, garage
$1.1M
+5.1%
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 Needham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Needham 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
$590,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,045,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,135,000
Change: +9% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,095,000
Change: +5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$910,000
Change: -13% · Conversion: Easy
INDUSTRIAL (GENERAL)
$865,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$725k
Range $653k – $798k · ±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
$79 / 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
$43,246
Tax year 2024
Assessed value
$1,760,100
Assessed 2024
Previous assessed
$1,760,100
+0.0% YoY
Effective rate
2.46%
On assessed value
Assessed land
$399,800
Assessed improvement
$1,360,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2005
Heating
HEAT PUMP
Cooling
YES
Stories
1
Rooms
6
Bathrooms
2
Total area
9,134 SF
Lot
0.44 ac (19,036 SF)
Zoning code
SRB
APN
NEED M:090.0 B:0011 L:0001.0
UPID
US38-0960211
Jurisdiction
NEEDHAM
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
SRB · Needham, MA
Zoning SRB · permitted uses
SRB · Needham, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Needham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$910,000
INDUSTRIAL (GENERAL)
Est. value
$865,000
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
2005
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Rooms
6
Bathrooms
2
Lot
0.44 ac
Current owner
From public records · entity-resolved
Highland Animal Realty
Entity
Mailing address
31 WELLESLEY AVE, NEEDHAM, MA 02494-1821
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 17, 2015
—
Highland Animal Realty
Curry,william J
Quit Claim Deed
related
$2,000,000 · Bank Of America
Sep 26, 2003
—
Highland Animal Rlty LLC
—
Deed Of Trust
related
$1,450,000 · Branch Banking & Trust Co
Jun 12, 2003
$433,000
Highland Animal Host LLC
Curry,william J JR
Grant Deed
$750,000 · Branch Banking & Trust Co
Feb 23, 2001
—
William J Curry JR.
—
Deed Of Trust
related
$215,000 · Needham Cp Bank
Aug 13, 1987
—
William J Curry JR.
—
Deed Of Trust
related
$190,000 · Needham Cp Bank
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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