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Property profile & analytics
FOR LEASE
Banks
40 Summer St Boston, MA 02110
Individually Owned
19-yr Hold
Free & Clear
Property ID
US38-1757531
For Lease
1 / 2
$1,180,000
40 Summer St, Boston, MA 02110
View Listing →
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1899
Construction
BRICK
Total area
33,665 SF
Lot
0.05 ac (2,156 SF)
Zoning code
C
APN
CBOS W:03 P:04593 S:000
UPID
US38-1757531
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
-
Citizens Bank Loan Service
-
Robert Searle Financial Advisor
-
Angelica Cronk Financial Advisor
-
Study Group International USA High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$835k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.52M
Blend (final)
Blend
$1.18M
Owner & transaction history
40 Summer Street RT · 19 yrs held
40 Summer Street RT
since 2006
4 recorded transactions
Zoning & alternative use
C · Boston, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Boston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boston 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
$835,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.18M
Range $1.06M – $1.30M · ±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
$35 / 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
$84,529
Tax year 2024
Assessed value
$3,345,021
Assessed 2024
Previous assessed
$3,531,116
-5.3% YoY
Effective rate
2.53%
On assessed value
Assessed land
$1,424,939
Assessed improvement
$1,920,082
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Banks
Use group
FINANCIAL BUILDING
Status
For Lease
Year built
1899
Construction
BRICK
Heating
NONE
Buildings
1
Stories
5
Units
4
Total area
33,665 SF
Lot
0.05 ac (2,156 SF)
Zoning code
C
APN
CBOS W:03 P:04593 S:000
UPID
US38-1757531
Jurisdiction
BOSTON
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
C · Boston, MA
Zoning C · permitted uses
C · Boston, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boston. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1899
Construction
BRICK
Heating
NONE
Stories
5
Buildings
1
Units
4
Lot
0.05 ac
Current owner
From public records · entity-resolved
40 Summer Street RT
Individual
Free & Clear · 19 yrs held
Mailing address
20 WINTHROP SQ, BOSTON, MA 02110-1229
Ownership since
2006
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
Dec 13, 2006
$1
40 Summer Street RT
Aw Perry INC
Grant Deed
—
Sep 24, 1999
—
Street T Summer
—
Deed Of Trust
related
$5,250,000 · Citizens Bank Of Ma
Dec 30, 1997
—
Summer St T 40
—
Deed Of Trust
related
$3,500,000 · Citizens Bank Of Ma
Dec 30, 1988
—
Summer St T Forty
—
Deed Of Trust
related
$28,000,000 · Bankboston Development Co LLC
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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