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Property profile & analytics
OFF-MARKET
Estimated value
$6,690,000
Individual retail properties
357 Columbia Rd Hanover, MA 02339-2325
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US38-0756504
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
43,620 SF
Lot
7.5 ac (326,700 SF)
Zoning code
B
APN
HANO M:65 L:069
UPID
US38-0756504
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
-
Planet Fitness Spa & Massage Center
-
Pickles Indoor Pickleball Club Gym & Fitness Center Sports Field & Court
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.46M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.69M
Owner & transaction history
Avocado Road Partners LLC · 1 yrs held
Avocado Road Partners LLC
since 2025
Last sale
$7.0M
6 recorded transactions
Zoning & alternative use
B · Hanover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zone name
Business
General category
COMMERCIAL
Zone area
49.99 ac
Source
Realmo
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 Hanover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hanover 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
$6,305,000
ML approach
$6,460,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,830,000
Change: 0% · Conversion: Difficult
RESTAURANT
$5,655,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$5,605,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$5,215,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$6.69M
Range $6.02M – $7.36M · ±10% · vs last sale $7.00M (Jan 16 2025)
Last sale anchor
$7.00M
Jan 16 2025
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
$153 / 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
$84,520
Tax year 2024
Assessed value
$6,284,000
Assessed 2024
Previous assessed
$6,107,600
+2.9% YoY
Effective rate
1.35%
On assessed value
Assessed land
$2,056,300
Assessed improvement
$4,227,700
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
Individual retail properties
Use group
GYM, HEALTH SPA
Status
Off-Market
Year built
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
2
Total area
43,620 SF
Lot
7.5 ac (326,700 SF)
Zoning code
B
APN
HANO M:65 L:069
UPID
US38-0756504
Jurisdiction
HANOVER
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
B · Hanover, MAZoning B · permitted uses
B · Hanover, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zone name
Business
General category
COMMERCIAL
Zone area
49.99 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$5.8M
RESTAURANT
Est. value
$5.7M
OFFICE BUILDING
Est. value
$5.6M
MEDICAL BUILDING
Est. value
$5.2M
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
MEDICAL 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
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
2
Lot
7.5 ac
Current owner
From public records · entity-resolved
Avocado Road Partners LLC
Entity
Mailing address
122 QUINCY SHR DR, QUINCY, MA 02171-2906
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 16, 2025
$7,000,000
Avocado Road Partners LLC
357 Columbia Road LLC
Deed
$3,500,000 · Hingham Institution For Savings
Mar 23, 2020
—
357 Columbia Solar LLC
—
Deed
related
$11,067,000 · Peoplesbank (holyoke Ma)
Aug 19, 2015
$3,000,000
357 Columbia Road LLC
Hanover Dev Co
Quit Claim Deed
$2,100,000 · Bank Of New England
Mar 25, 2014
—
Hanover Dev Co LLC
Neuman,herbert
Quit Claim Deed
related
—
—
—
357 Columbia Road LLC
—
Deed Of Trust
related
$2,257,657 · Bank Of New England
—
—
357 Columbia Solar LLC
—
Deed Of Trust
related
$11,067,000 · Peoplesbank (holyoke Ma)
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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