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Property profile & analytics
OFF-MARKET
Estimated value
$2,400,000
Turn key restaurants
311 Derby St Salem, MA 01970-3647
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US38-0433211
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1965
Construction
STEEL FRAME
Total area
6,848 SF
Lot
0.41 ac (17,690 SF)
Zoning code
B5
APN
SALE M:34 L:0443
UPID
US38-0433211
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.40M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.40M
Owner & transaction history
311 Derby Realty LLC · 1 yrs held
311 Derby Realty LLC
since 2024
Last sale
$2.4M
5 recorded transactions
Zoning & alternative use
B5 · Salem, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem 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
$2,400,000
ML approach
$2,400,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,365,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,190,000
Change: -7% · Conversion: Difficult
OFFICE BUILDING
$1,965,000
Change: -17% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,895,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$2.40M
Range $2.16M – $2.64M · ±10% · vs last sale $2.40M (Oct 2 2024)
Last sale anchor
$2.40M
Oct 2 2024
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
$350 / 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
$26,286
Tax year 2024
Assessed value
$1,109,600
Assessed 2024
Previous assessed
$1,109,600
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed land
$547,200
Assessed improvement
$562,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1965
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
2
Total area
6,848 SF
Lot
0.41 ac (17,690 SF)
Zoning code
B5
APN
SALE M:34 L:0443
UPID
US38-0433211
Jurisdiction
SALEM
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
B5 · Salem, MA
Zoning B5 · permitted uses
B5 · Salem, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.9M
RESTAURANT Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
2
Lot
0.41 ac
Current owner
From public records · entity-resolved
311 Derby Realty LLC
Entity
Free & Clear · 1 yrs held
Mailing address
8 PALIS DR, SALISBURY, MA 01952-1455
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Nov 25, 2024
—
311 Derby Realty LLC
—
Deed
related
$1,680,000 · Newburyport Bank
Oct 2, 2024
$2,400,000
311 Derby Realty LLC
Sousa JR Jerome R Est
Fiduciary Deed
—
Feb 10, 2000
—
Jerome R Sousa JR.
—
Deed Of Trust
related
$242,000 · Salem Five Cents Savings Bank
Sep 17, 1996
—
Jerome R Sousa JR.
—
Deed Of Trust
related
$350,000 · Salem Five Cents Savings Bank
Dec 11, 1992
—
Jerome Sousa JR.
—
Deed Of Trust
related
$150,000 · First City Capital Co
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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