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Property profile & analytics
OFF-MARKET
Estimated value
$1,530,000
Office buildings
315 Main St, North Reading, MA 01864-1326
Individually Owned
19-yr Hold
Free & Clear
Property ID
US38-0740727
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1999
Total area
5,628 SF
Lot
0.46 ac (19,994 SF)
Zoning code
RB
APN
NREA M:012.0 B:0000 L:0130.0
UPID
US38-0740727
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
-
Embody MedSpa Spa & Massage Center Alternative Medicine Practice
-
Dr. Wayne H. Weinreb, MD Physician
-
Therapy Spot Physician
-
Dr. Kenneth P. McWha, MD Pediatrician Physician
-
Nutter physical therapy Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.47M
Blend (final)
Blend
$1.53M
Owner & transaction history
Mirage RT · 19 yrs held
Mirage RT
since 2006
7 recorded transactions
Zoning & alternative use
RB · North Reading, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.6M
+19.8%
Auto repair, garage
$1.6M
+16.1%
Neighborhood: shopping center
$1.6M
+14.3%
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 North Reading submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Reading 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,365,000
Current use
RESTAURANT
$1,635,000
Change: +20% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,585,000
Change: +16% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,560,000
Change: +14% · Conversion: Difficult
RETAIL STORES
$1,515,000
Change: +11% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,455,000
Change: +7% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,295,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$1.53M
Range $1.38M – $1.68M · ±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
$272 / 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
$14,374
Tax year 2024
Assessed value
$1,088,100
Assessed 2024
Previous assessed
$1,034,400
+5.2% YoY
Effective rate
1.32%
On assessed value
Assessed land
$371,800
Assessed improvement
$716,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1999
Heating
FORCED AIR
Stories
2
Units
2
Rooms
7
Bathrooms
1
Total area
5,628 SF
Lot
0.46 ac (19,994 SF)
Zoning code
RB
APN
NREA M:012.0 B:0000 L:0130.0
UPID
US38-0740727
Jurisdiction
NORTH READING
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
RB · North Reading, MA
Zoning RB · permitted uses
RB · North Reading, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Reading. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.4M
RESTAURANT
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
RETAIL STORES
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.3M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1999
Heating
FORCED AIR
Stories
2
Units
2
Rooms
7
Bathrooms
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Mirage RT
Individual
Free & Clear · 19 yrs held
Mailing address
136 KARA DR, NORTH ANDOVER, MA 01845-4835
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 14, 2017
—
La,mirage Trust
—
Deed
related
$780,000 · Winter Hill Fsb
Nov 15, 2006
$1
Mirage RT
Hashem,john J JR
Grant Deed
—
Dec 23, 1999
—
John J Hashem JR.
—
Deed Of Trust
related
$110,000 · Stoneham Cp Bank
Feb 1, 1999
—
John J Hashem JR.
—
Deed Of Trust
related
$400,000 · Stoneham Cp Bank
Jul 27, 1998
$150,000
John J Hashem JR.
Ivester,jeanne F
Grant Deed
—
Sep 12, 1991
—
John M Ivester
—
Deed Of Trust
related
$15,000 · Youville Hospital Employee FCU
—
—
Lamirage Trust
—
Deed Of Trust
related
$400,000 · Ronald J Levesque
—
—
La,mirage Trust
—
Deed Of Trust
related
$780,000 · Winter Hill Fsb
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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