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Property profile & analytics
FOR LEASE
Super regional malls
353 John Fitch Hwy, Fitchburg, MA 01420
Entity Owned
17-yr Hold
Free & Clear
Property ID
US38-1344887
For Lease
1 / 2
$6,170,000
353 John Fitch Hwy, Fitchburg, MA 01420
View Listing →
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1970
Construction
STEEL FRAME
Total area
64,660 SF
Lot
5.23 ac (227,819 SF)
Zoning code
C
APN
FITC M:0060 B:0001 L:0
UPID
US38-1344887
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
-
Big Lots Discount Store
-
Bank of America ATM Atm
-
Sandee Temporary Restrooms Fitchburg Waste Management Facility Hazardous Waste Disposal
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.31M
Blend (final)
Blend
$6.17M
Owner & transaction history
Peace&grace Realty LLC · 17 yrs held
Peace&grace Realty LLC
since 2008
4 recorded transactions
Zoning & alternative use
C · Fitchburg, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$9.4M
+14.7%
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 Fitchburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fitchburg 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
NEIGHBORHOOD: SHOPPING CENTER
$8,160,000
Current use
AUTO REPAIR, GARAGE
$9,365,000
Change: +15% · Conversion: Difficult
RETAIL STORES
$7,955,000
Change: -3% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$7,760,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$6.17M
Range $5.55M – $6.79M · ±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
$95 / 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
$72,624
Tax year 2024
Assessed value
$4,903,700
Assessed 2024
Previous assessed
$4,205,000
+16.6% YoY
Effective rate
1.48%
On assessed value
Assessed land
$968,200
Assessed improvement
$3,935,500
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
1970
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
6
Bathrooms
16
Total area
64,660 SF
Lot
5.23 ac (227,819 SF)
Zoning code
C
APN
FITC M:0060 B:0001 L:0
UPID
US38-1344887
Jurisdiction
FITCHBURG
Zoning & alternative use
C · Fitchburg, MA
Zoning C · permitted uses
C · Fitchburg, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fitchburg. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$8.2M
AUTO REPAIR, GARAGE
Est. value
$9.4M
RETAIL STORES
Est. value
$8.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.8M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1970
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
6
Bathrooms
16
Lot
5.23 ac
Current owner
From public records · entity-resolved
Peace&grace Realty LLC
Entity
Free & Clear · 17 yrs held
Mailing address
25 MARY AGNES RD, FRAMINGHAM, MA 01701-2732
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 31, 2013
—
Peace&grace Realty LLC
—
Deed Of Trust
related
$4,350,000 · Avidia Bank
Jul 24, 2008
$6,000,000
Peace&grace Realty LLC
Kent Rlty Fitchburg LLC
Grant Deed
—
Jul 21, 2003
—
Kent Rlty Fitchburg LLC
—
Deed Of Trust
related
$5,250,000 · Bear Stevens Funding
Jul 2, 2003
$6,750,000
Kent Realty Fitchburg LLC
L P L LLC
Grant 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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