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Property profile & analytics
FOR LEASE
Industrial properties
400 Riverpark Dr, North Reading, MA 01864
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US38-1079604
For Lease
1 / 4
$20,260,000
400 Riverpark Dr, North Reading, MA 01864
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Total area
138,540 SF
Lot
13.51 ac (588,496 SF)
Zoning code
IB
APN
NREA M:001.0 B:0000 L:0004.0
UPID
US38-1079604
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
-
Bright Horizons at Riverpark Daycare Center
-
Crowe Paradis Services Corporation Insurance Agency
-
Avnet, Inc. Electronics & Wireless Store
-
ISO Claims Partners Consultant
-
400 Riverpark Lot (Propark) Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$22.67M
Comparable Approach
Comparable
$21.75M
Blend (final)
Blend
$20.26M
Owner & transaction history
Atlantic 400 Rivpark LLC · 5 yrs held
Atlantic 400 Rivpark LLC
since 2021
Last sale
$20.0M
2 recorded transactions
Zoning & alternative use
IB · North Reading, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$33.6M
+57.9%
Apartment house (5+ units)
$31.9M
+50.1%
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 North Reading submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Reading 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
$18,915,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$24,560,000
6.5%
$22,670,000
7%
$21,050,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$21,265,000
Current use
OFFICE BUILDING
$33,580,000
Change: +58% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$31,920,000
Change: +50% · Conversion: Difficult
Blend value · Realmo final
$20.26M
Range $18.23M – $22.29M · ±10% · vs last sale $20.00M (Mar 30 2021)
Last sale anchor
$20.00M
Mar 30 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
$146 / 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
$262,219
Tax year 2024
Assessed value
$19,850,000
Assessed 2024
Previous assessed
$18,670,300
+6.3% YoY
Effective rate
1.32%
On assessed value
Assessed land
$6,002,300
Assessed improvement
$13,847,700
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Heating
NONE
Buildings
4
Total area
138,540 SF
Lot
13.51 ac (588,496 SF)
Zoning code
IB
APN
NREA M:001.0 B:0000 L:0004.0
UPID
US38-1079604
Jurisdiction
NORTH READING
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
IB · North Reading, MA
Zoning IB · permitted uses
IB · North Reading, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Reading. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$21.3M
OFFICE BUILDING
Est. value
$33.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$31.9M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
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
Heating
NONE
Buildings
4
Lot
13.51 ac
Current owner
From public records · entity-resolved
Atlantic 400 Rivpark LLC
Entity
Mailing address
205 NEWBURY ST, FRAMINGHAM, MA 01701-4581
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 30, 2021
$20,000,000
Atlantic 400 Rivpark LLC
Curo North Reading LLC
Quit Claim Arm's Length For Ne States
$17,000,000 · Middlesex Savings Bank
Aug 15, 2016
$21,400,000
Curo North Reading LLC
Riverpark Investors LP
Quit Claim Arm's Length For Ne States
$15,000,000 · Middlesex Savings Bank
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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