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Property profile & analytics
OFF-MARKET
Estimated value
$7,830,000
Warehouses
35 Lyman St Northborough, MA 01532-2076
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US38-0316835
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1967
Total area
89,030 SF
Lot
9.87 ac (430,003 SF)
Zoning code
I
APN
NBOR M:0660 L:0012
UPID
US38-0316835
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
-
Gary Sloan Studios Photography Service (Bike/Boat/Book/etc) Store
-
ExhibitSense Exhibit Exhibition Planner
-
Active Logistics Inc Freight Service Logistics Company
-
Viewpoint Sign Awning Industrial Manufacturer Production Facility
-
Viewpoint Arcbitectural Metals Architectural Designer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.51M
Blend (final)
Blend
$7.83M
Owner & transaction history
35 Lyman LLC · 17 yrs held
35 Lyman LLC
since 2008
5 recorded transactions
Zoning & alternative use
I · Northborough, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$12.1M
+35.5%
Neighborhood: shopping center
$11.2M
+25.8%
Apartment house (5+ units)
$10.7M
+19.6%
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 Northborough submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Northborough 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
WAREHOUSE, STORAGE
$8,930,000
Current use
OFFICE BUILDING
$12,105,000
Change: +36% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$11,235,000
Change: +26% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$10,680,000
Change: +20% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,800,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$7.83M
Range $7.05M – $8.61M · ±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
$88 / 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
$127,760
Tax year 2024
Assessed value
$8,946,800
Assessed 2024
Previous assessed
$8,946,800
+0.0% YoY
Effective rate
1.43%
On assessed value
Assessed land
$1,948,200
Assessed improvement
$6,998,600
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1967
Heating
SPACE
Buildings
1
Stories
1
Units
3
Bathrooms
8
Total area
89,030 SF
Lot
9.87 ac (430,003 SF)
Zoning code
I
APN
NBOR M:0660 L:0012
UPID
US38-0316835
Jurisdiction
NORTHBOROUGH
Zoning & alternative use
I · Northborough, MA
Zoning I · permitted uses
I · Northborough, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Northborough. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$8.9M
OFFICE BUILDING
Est. value
$12.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$11.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.7M
COMMERCIAL (GENERAL)
Est. value
$9.8M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
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
1967
Heating
SPACE
Stories
1
Buildings
1
Units
3
Bathrooms
8
Lot
9.87 ac
Current owner
From public records · entity-resolved
35 Lyman LLC
Entity
Mailing address
1881 WORCESTER RD STE #200, FRAMINGHAM, MA 01701-5410
Ownership since
2008
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
Mar 13, 2020
—
35 Lyman LLC
—
Deed
related
$3,500,000 · Eastern Bk
Apr 5, 2012
—
35 Lyman LLC
—
Deed Of Trust
related
$1,760,060 · Td Equipment Finance INC
Apr 16, 2009
—
35 Lyman LLC
—
Deed Of Trust
related
$300,000 · Avidia Bank
Jul 24, 2008
$3,650,000
35 Lyman LLC
Town Paint&supply Co
Grant Deed
$3,336,000 · Avidia Bank
—
—
35 Lyman LLC
—
Deed Of Trust
related
$3,500,000 · Eastern Bk
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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