Entity Owned Property summary
AI-generated overview
This exceptional two-story, Class B office building, totaling 20,000 square feet, presents a fantastic opportunity. Built in 2000, the property boasts 12-foot ceilings and is conveniently located in the heart of Devens, MA, within Devens Commons. Currently, 4,230 square feet of office space is available for lease in a multi-tenant building. The building offers a total of 75 parking spaces, a significant advantage for employees and clients, further enhanced by the inclusion of an on-site electric vehicle charging station. The property's prime location offers excellent walkability to numerous local restaurants and shops, providing convenience and amenities for tenants. Its strategic proximity to Route 2 ensures easy access to regional transportation networks. The lease is a gross lease, encompassing base year common area maintenance (CAM) and property taxes. This makes budgeting and financial planning straightforward for prospective tenants. This is an ideal location for businesses seeking a modern, well-maintained office space with convenient amenities and excellent accessibility. The building's location within Devens Commons provides a vibrant and thriving business environment.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2005
Total area
21,872 SF
Zoning code
C
APN
DEVE M:020.0 B:0003 L:0300.C
UPID
US38-0635281
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.97M
Blend (final)
Blend
$3.54M
Owner & transaction history
Zoning & alternative use
C · Devens, MA
Top alternative use upside
Restaurant
$4.1M
+38.7%
Retail stores
$3.4M
+15.4%
Auto repair, garage
$3.4M
+12.8%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 6 comparables with addresses
7 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$3.54M
Value range
$3.19M – $3.89M
±10% around blend
Estimated value / SF
$162 / SF
Confidence
High
6 county-verified comps
Property data
88
Market benchmarks
33
Comparable evidence
60
$3.19M
blend $3.54M
$3.89M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
21,872 SF
Year built
2005
Stories
2
APN
DEVE M:020.0 B:0003 L:0300.C
Zoning
C
Assessed value
$3,164,100
Annual tax
$55,182
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$4.98M
Weighted, 6 comps · high confidence
Evidence
6 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
19.7 mi away · 16,716 SF
20.7 mi away · 20,738 SF
22.3 mi away · 18,355 SF
23.5 mi away · 24,600 SF
25.0 mi away · 15,554 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.54M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 301 sales
$136
+19%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $162/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+39%
vs current-use indication
Retail Stores
Auto Repair, Garage
Office Building · current use
Neighborhood: Shopping Center
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 6 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$3.16M
Move the market yield to see immediate price impact.
Value / SF
$145
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$199k
$3.99M
$2.85M
$2.21M
$221k
$4.43M
$3.16M
$2.46M
$244k
$4.87M
$3.48M
$2.71M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$2.00M
16.8 mi · Sep 2025 · $100/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$55,182
Tax year 2024
Assessed value
$3,164,100
Assessed 2024
Previous assessed
$3,005,900
+5.3% YoY
Effective rate
1.74%
On assessed value
Assessed improvement
$3,164,100
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2005
Heating
CENTRAL
Stories
2
Units
1
Total area
21,872 SF
Zoning code
C
APN
DEVE M:020.0 B:0003 L:0300.C
UPID
US38-0635281
Jurisdiction
DEVENS
Zoning & alternative use
C · Devens, MAZoning C · permitted uses
C · Devens, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Heating
CENTRAL
Stories
2
Units
1
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C
Jurisdiction
Devens, MA
Recorded code
C
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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