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Property profile & analytics
OFF-MARKET
Estimated value
$67,760,000
Warehouses
351 Maple St, Bellingham, MA 02019-3024
Individually Owned
5-yr Hold
Free & Clear
Property ID
US38-2249199
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2017
Construction
STEEL FRAME
Total area
300,000 SF
Lot
64.63 ac (2,815,109 SF)
Zoning code
IND
APN
BELL M:0037 B:0001 L:0002
UPID
US38-2249199
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
-
Amazon Bellingham Warehouse & Storage
-
DCB8 Amazon Distribution Center Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$59.62M
Comparable Approach
Comparable
$66.90M
Blend (final)
Blend
$67.76M
Owner & transaction history
Gwl Firect 351-353 Maple · 5 yrs held
Gwl Firect 351-353 Maple
since 2021
Last sale
$93.4M
3 recorded transactions
Zoning & alternative use
IND · Bellingham, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$96.6M
+86.3%
Office building
$88.0M
+69.7%
Retail stores
$87.8M
+69.4%
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 Bellingham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bellingham 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%
$64,580,000
6.5%
$59,615,000
7%
$55,355,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$51,850,000
Current use
AUTO REPAIR, GARAGE
$96,605,000
Change: +86% · Conversion: Easy
OFFICE BUILDING
$88,010,000
Change: +70% · Conversion: Difficult
RETAIL STORES
$87,835,000
Change: +69% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$86,185,000
Change: +66% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$49,185,000
Change: -5% · Conversion: Easy
COMMERCIAL (GENERAL)
$46,870,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$67.76M
Range $60.98M – $74.54M · ±10% · vs last sale $93.35M (May 19 2021)
Last sale anchor
$93.35M
May 19 2021
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
$226 / 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
$912,240
Tax year 2024
Assessed value
$49,257,000
Assessed 2024
Previous assessed
$49,257,000
+0.0% YoY
Effective rate
1.85%
On assessed value
Assessed land
$4,819,800
Assessed improvement
$44,437,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
2017
Construction
STEEL FRAME
Heating
SPACE
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
3
Total area
300,000 SF
Lot
64.63 ac (2,815,109 SF)
Zoning code
IND
APN
BELL M:0037 B:0001 L:0002
UPID
US38-2249199
Jurisdiction
BELLINGHAM
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
IND · Bellingham, MA
Zoning IND · permitted uses
IND · Bellingham, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bellingham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$51.9M
AUTO REPAIR, GARAGE
Est. value
$96.6M
OFFICE BUILDING
Est. value
$88.0M
RETAIL STORES
Est. value
$87.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$86.2M
INDUSTRIAL (GENERAL)
Est. value
$49.2M
COMMERCIAL (GENERAL)
Est. value
$46.9M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
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
2017
Construction
STEEL FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
3
Lot
64.63 ac
Current owner
From public records · entity-resolved
Gwl Firect 351-353 Maple
Individual
Free & Clear · 5 yrs held
Mailing address
PO BOX 460189, HOUSTON, TX 77056-8189
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 19, 2021
$93,350,000
Gwl Firect 351-353 Maple
Hancock Reit Maple St LLC
Quit Claim Arm's Length For Ne States
—
Oct 13, 2020
—
Hancock Reit Maple St LLC
—
Deed
related
$70,000,000 · Bmo Harris Bank NA
Oct 6, 2020
$76,100,000
Hancock Reit Maple St LLC
Cv4 Bellingham Campanelli
Quit Claim Deed
—
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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