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Property profile & analytics
OFF-MARKET
Estimated value
$605,000
Investment properties
33 Salem St, North Reading, MA 01864-1513
Individually Owned
4-yr Hold
Free & Clear
Property ID
US38-1693979
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1960
Construction
CONCRETE
Total area
3,462 SF
Lot
3.2 ac (139,392 SF)
Zoning code
RA
APN
NREA M:068.0 B:0000 L:0003.0
UPID
US38-1693979
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
-
Forest Riding Academy Training Center Animal Training
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$783k
Blend (final)
Blend
$605k
Owner & transaction history
Laporte Ft · 4 yrs held
Laporte Ft
since 2021
5 recorded transactions
Zoning & alternative use
RA · North Reading, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$975,000
+8.9%
Neighborhood: shopping center
$960,000
+7.2%
Retail stores
$935,000
+4.3%
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
COMMERCIAL (GENERAL)
$895,000
Current use
AUTO REPAIR, GARAGE
$975,000
Change: +9% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$960,000
Change: +7% · Conversion: Difficult
RETAIL STORES
$935,000
Change: +4% · Conversion: Easy
OFFICE BUILDING
$840,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$605k
Range $545k – $666k · ±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
$175 / 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
$10,440
Tax year 2024
Assessed value
$790,300
Assessed 2024
Previous assessed
$731,000
+8.1% YoY
Effective rate
1.32%
On assessed value
Assessed land
$410,200
Assessed improvement
$380,100
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1960
Construction
CONCRETE
Heating
HOT WATER
Buildings
2
Stories
2
Rooms
7
Bathrooms
2
Total area
3,462 SF
Lot
3.2 ac (139,392 SF)
Zoning code
RA
APN
NREA M:068.0 B:0000 L:0003.0
UPID
US38-1693979
Jurisdiction
NORTH READING
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
RA · North Reading, MA
Zoning RA · permitted uses
RA · 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
COMMERCIAL (GENERAL) Current
Est. value
$895,000
AUTO REPAIR, GARAGE
Est. value
$975,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$960,000
RETAIL STORES
Est. value
$935,000
OFFICE BUILDING
Est. value
$840,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
OFFICE BUILDING
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
1960
Construction
CONCRETE
Heating
HOT WATER
Stories
2
Buildings
2
Rooms
7
Bathrooms
2
Lot
3.2 ac
Current owner
From public records · entity-resolved
Laporte Ft
Individual
Free & Clear · 4 yrs held
Mailing address
33 SALEM ST, NORTH READING, MA 01864-1513
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
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
Dec 20, 2021
—
Laporte Ft
Joseph Laporte
Quit Claim Deed
related
—
Apr 30, 2003
—
Donna Laporte
—
Deed Of Trust
related
$106,150 · New Fijol Ft
Nov 8, 1993
—
Joseph Laporte
—
Deed Of Trust
related
$126,500 · New Fijol Ft
May 23, 1990
—
Joseph Laporte
—
Deed Of Trust
related
$20,000 · Danvers Savings Bank
Jul 14, 1987
—
Joseph Laporte
—
Deed Of Trust
related
$92,000 · Reading 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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