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Property profile & analytics
OFF-MARKET
Estimated value
$11,525,000
Life science properties
37 Manning Rd, Billerica, MA 01821-3950
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US38-1717195
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1980
Construction
STEEL FRAME
Total area
60,040 SF
Lot
10.24 ac (446,054 SF)
Zoning code
5
APN
BILL M:0096 B:0166 L:1
UPID
US38-1717195
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
-
DJ Instruments Factory Production Facility
-
Zink Holdings LLC Industrial Manufacturer Production Facility
-
Superconducting Systems Inc Engineering Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.48M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.88M
Blend (final)
Blend
$11.53M
Owner & transaction history
Bire 37 Manning Rd Owner · 1 yrs held
Bire 37 Manning Rd Owner
since 2025
Last sale
$13.4M
7 recorded transactions
Zoning & alternative use
5 · Billerica, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$17.4M
+78.1%
Auto repair, garage
$16.9M
+72.7%
Neighborhood: shopping center
$16.6M
+70.0%
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 Billerica submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Billerica 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
$8,370,000
ML approach
$9,480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL
$9,785,000
Current use
RESTAURANT
$17,430,000
Change: +78% · Conversion: Difficult
AUTO REPAIR, GARAGE
$16,900,000
Change: +73% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$16,635,000
Change: +70% · Conversion: Difficult
RETAIL STORES
$16,185,000
Change: +65% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$13,835,000
Change: +41% · Conversion: Difficult
COMMERCIAL (GENERAL)
$10,980,000
Change: +12% · Conversion: Difficult
OFFICE BUILDING
$8,765,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$11.53M
Range $10.37M – $12.68M · ±10% · vs last sale $13.45M (Dec 7 2024)
Last sale anchor
$13.45M
Dec 7 2024
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
$192 / 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
$207,216
Tax year 2024
Assessed value
$8,258,900
Assessed 2024
Previous assessed
$7,899,300
+4.6% YoY
Effective rate
2.51%
On assessed value
Assessed land
$2,088,400
Assessed improvement
$6,170,500
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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
Off-Market
Year built
1980
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
3
Total area
60,040 SF
Lot
10.24 ac (446,054 SF)
Zoning code
5
APN
BILL M:0096 B:0166 L:1
UPID
US38-1717195
Jurisdiction
BILLERICA
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
5 · Billerica, MA
Zoning 5 · permitted uses
5 · Billerica, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Billerica. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL Current
Est. value
$9.8M
RESTAURANT
Est. value
$17.4M
AUTO REPAIR, GARAGE
Est. value
$16.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$16.6M
RETAIL STORES
Est. value
$16.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$13.8M
COMMERCIAL (GENERAL)
Est. value
$11.0M
OFFICE BUILDING
Est. value
$8.8M
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
OFFICE 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
1980
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
3
Lot
10.24 ac
Current owner
From public records · entity-resolved
Bire 37 Manning Rd Owner
Individual
Mailing address
1 SANSOME ST STE #1500, SAN FRANCISCO, CA 94104-4449
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 7, 2025
$13,445,294
Bire 37 Manning Rd Owner
Bpvif V Holdings 17 LLC
Deed
$31,790,000 · Bmo Harris Bank NA
Jul 14, 2021
—
Bpvif 5 Hldg 17 LLC
—
Deed
related
$5,867,500 · Cambridge Savings Bank
May 21, 2021
$8,850,000
Bpvif 5 Holdings 17 LLC
Bc Manning Road LLC
Quit Claim Arm's Length For Ne States
—
Oct 12, 2016
$3,000,000
Bc Manning Road LLC
37 Manning Road LP
Quit Claim Deed
$1,950,000 · Cambridge Tr
Apr 22, 2010
—
37 Manning Road LP
—
Deed Of Trust
related
$1,100,000 · Enterprise Bank & Trust
Oct 26, 1999
—
Manning Rd LP 37
—
Deed Of Trust
related
$1,478,000 · Medford Savings Bank
Aug 22, 1989
$1,697,001
37 Manning Rd Ltd
Manning Assoc Ltd
Grant Deed
related
—
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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