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Property profile & analytics
OFF-MARKET
Estimated value
$2,360,000
Office buildings
35 Mitchell Rd, Ipswich, MA 01938-1218
Entity Owned
12-yr Hold
Free & Clear
Property ID
US38-0385668
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1954
Construction
FRAME
Total area
11,472 SF
Lot
1.7 ac (74,052 SF)
Zoning code
I
APN
IPSW M:021 B:0018 L:001
UPID
US38-0385668
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
-
Vinwood Caterers Take-out & Catering Catering Service
-
Erica Capone Foster Care Service Social Service Agency
-
David Pennacchia Crisis Center Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.22M
Blend (final)
Blend
$2.36M
Owner & transaction history
35 Mitchell Road LLC · 12 yrs held
35 Mitchell Road LLC
since 2013
7 recorded transactions
Zoning & alternative use
I · Ipswich, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.7M
+24.4%
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 Ipswich submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ipswich 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
$2,950,000
Current use
APARTMENT HOUSE (5+ UNITS)
$3,670,000
Change: +24% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,750,000
Change: -7% · Conversion: Difficult
RETAIL STORES
$2,550,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$2.36M
Range $2.12M – $2.60M · ±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
$206 / 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
$12,298
Tax year 2024
Assessed value
$1,080,700
Assessed 2024
Previous assessed
$1,080,700
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed improvement
$1,080,700
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
1954
Construction
FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Units
2
Bathrooms
6
Total area
11,472 SF
Lot
1.7 ac (74,052 SF)
Zoning code
I
APN
IPSW M:021 B:0018 L:001
UPID
US38-0385668
Jurisdiction
IPSWICH
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
I · Ipswich, MA
Zoning I · permitted uses
I · Ipswich, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ipswich. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.7M
AUTO REPAIR, GARAGE
Est. value
$2.8M
RETAIL STORES
Est. value
$2.6M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1954
Construction
FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Units
2
Bathrooms
6
Lot
1.7 ac
Current owner
From public records · entity-resolved
35 Mitchell Road LLC
Entity
Free & Clear · 12 yrs held
Mailing address
35 MITCHELL RD #1, IPSWICH, MA 01938-1218
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2013
—
35 Mitchell Road LLC
Trees,douglas F
Quit Claim Deed
related
—
Jun 8, 2001
—
Douglas F Trees
—
Deed Of Trust
related
$195,000 · Beverly National Bank
Nov 19, 1997
—
Douglas F Trees
—
Deed Of Trust
related
$150,000 · Beverly National Bank
Apr 4, 1996
—
Douglas F Trees
—
Deed Of Trust
related
$225,000 · Beverly National Bank
Jul 30, 1991
—
Douglas F Trees
—
Deed Of Trust
related
$420,000 · Beverly National Bank
Jun 25, 1990
—
Timothy S Perkins
—
Deed Of Trust
related
$25,000 · First National Bank Ipswch
Mar 22, 1989
—
Douglas F Trees
—
Deed Of Trust
related
$235,000 · Beverly National 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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