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Property profile & analytics
OFF-MARKET
Estimated value
$14,590,000
Warehouses
41 Lyman St, Northborough, MA 01532-2060
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-0933030
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2001
Total area
84,000 SF
Lot
9.51 ac (414,134 SF)
Zoning code
I
APN
NBOR M:0660 L:0014
UPID
US38-0933030
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
-
Crandall Hicks Co. Warehouse & Storage
-
Smds Northeast Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.73M
CAP Approach
CAP
$15.06M
Comparable Approach
Comparable
$12.45M
Blend (final)
Blend
$14.59M
Owner & transaction history
Exeter 41 Lyman LP · 4 yrs held
Exeter 41 Lyman LP
since 2022
Last sale
$18.0M
7 recorded transactions
Zoning & alternative use
I · Northborough, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$15.8M
+87.9%
Retail stores
$13.2M
+56.4%
Auto repair, garage
$12.9M
+52.9%
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 Northborough submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Northborough 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
$17,375,000
ML approach
$9,730,000
CAP Approach
CAP Return
Estimation
6%
$16,315,000
6.5%
$15,060,000
7%
$13,985,000
Alternative Use
Use
Estimation
RESTAURANT
$15,835,000
Change: +88% · Conversion: Difficult
RETAIL STORES
$13,180,000
Change: +56% · Conversion: Moderate
AUTO REPAIR, GARAGE
$12,885,000
Change: +53% · Conversion: Easy
OFFICE BUILDING
$11,420,000
Change: +36% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$10,600,000
Change: +26% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$10,080,000
Change: +20% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,245,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$14.59M
Range $13.13M – $16.05M · ±10% · vs last sale $18.00M (Jun 23 2022)
Last sale anchor
$18.00M
Jun 23 2022
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
$174 / 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
$211,678
Tax year 2024
Assessed value
$14,823,400
Assessed 2024
Previous assessed
$14,823,400
+0.0% YoY
Effective rate
1.43%
On assessed value
Assessed improvement
$14,823,400
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2001
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Total area
84,000 SF
Lot
9.51 ac (414,134 SF)
Zoning code
I
APN
NBOR M:0660 L:0014
UPID
US38-0933030
Jurisdiction
NORTHBOROUGH
Zoning & alternative use
I · Northborough, MA
Zoning I · permitted uses
I · Northborough, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Northborough. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$15.8M
RETAIL STORES
Est. value
$13.2M
AUTO REPAIR, GARAGE
Est. value
$12.9M
OFFICE BUILDING
Est. value
$11.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$10.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.1M
COMMERCIAL (GENERAL)
Est. value
$9.2M
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
2001
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Lot
9.51 ac
Current owner
From public records · entity-resolved
Exeter 41 Lyman LP
Entity
Mailing address
100 W MATSONFORD RD #250, RADNOR, PA 19087-4558
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 23, 2022
$18,000,000
Exeter 41 Lyman LP
Ak&c Holdings LLC
Quit Claim Arm's Length For Ne States
$130,191,190 · Jpmorgan Chase Bank NA
Dec 17, 2020
—
Ak&c Hldg LLC
—
Deed
related
$4,900,000 · Webster Five Cents Savings Bank
Jun 19, 2018
—
Ak&c Holdings LLC
—
Deed
related
$1,850,000 · United Bank
Mar 3, 2017
$3,800,000
Ak&c Holdings LLC
Lyman Street RT
Quit Claim Arm's Length For Ne States
$1,900,000 · Webster Fivecent Svgs
Mar 1, 2011
$1
Richard W Kohn
41 Lyman Realty LLC
Grant Deed
—
Mar 1, 2011
—
Lyman Street RT
—
Deed Of Trust
related
$2,575,000 · Hingham Institute For Savings
Mar 30, 2005
—
41 Lyman Rlty LLC
—
Deed Of Trust
related
$2,650,000 · Hingham Institute For Savings
Oct 28, 2004
$1
41 Lyman Realty LLC
41 Lyman St RT
Grant Deed
related
—
Jan 3, 2003
—
41 Lyman St. RT
—
Deed Of Trust
related
$2,230,000 · Citizens Bank Of Ma
Dec 6, 2002
$3,950,000
41 Lyman St. RT
Lyman Dev RT
Grant Deed
related
$2,230,000 · Citizens Bank Of Ma
Oct 3, 2002
—
Robert J Depietri JR.
—
Deed Of Trust
related
$3,300,000 · Medford Savings Bank
Dec 7, 2000
—
Lyman Dev RT
—
Deed Of Trust
related
$2,500,000 · First Essex Savings Bank
May 23, 2000
$500,000
Lyman Dev RT
Ifv RT
Grant Deed
$500,000 · Lbm Financial LLC
Apr 9, 1999
$205,000
Ifv RT
Black Iron T
Grant Deed
—
Nov 20, 1989
—
Black Iron Trust
—
Deed Of Trust
related
$40,000 · Zwi Kohorn
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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