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Property profile & analytics
OFF-MARKET
Estimated value
$15,175,000
Life science properties
420 Fortune Blvd 450 Milford, MA 01757-1722
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US38-0622557
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1987
Construction
STEEL FRAME
Total area
105,304 SF
Lot
8.55 ac (372,438 SF)
Zoning code
IB
APN
MILF M:32 B:098 L:10
UPID
US38-0622557
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
-
ProVerde Laboratories, Inc. Laboratory Cannabis Store
-
Des Lauriers & Associates Land Surveyor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.27M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$15.18M
Owner & transaction history
Bpvif V Holdings 18 LLC · 5 yrs held
Bpvif V Holdings 18 LLC
since 2021
Last sale
$15.3M
7 recorded transactions
Zoning & alternative use
IB · Milford, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$13.9M
+140.6%
Medical building
$13.0M
+124.4%
Restaurant
$12.9M
+122.4%
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 Milford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milford 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
$15,025,000
ML approach
$9,270,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$13,905,000
Change: +141% · Conversion: Difficult
MEDICAL BUILDING
$12,970,000
Change: +124% · Conversion: Difficult
RESTAURANT
$12,850,000
Change: +122% · Conversion: Difficult
RETAIL STORES
$12,645,000
Change: +119% · Conversion: Difficult
AUTO REPAIR, GARAGE
$11,855,000
Change: +105% · Conversion: Difficult
Blend value · Realmo final
$15.18M
Range $13.66M – $16.69M · ±10% · vs last sale $15.25M (Jun 10 2021)
Last sale anchor
$15.25M
Jun 10 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
$144 / 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
$171,646
Tax year 2024
Assessed value
$7,125,200
Assessed 2024
Previous assessed
$7,125,200
+0.0% YoY
Effective rate
2.41%
On assessed value
Assessed land
$2,287,800
Assessed improvement
$4,837,400
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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
Off-Market
Year built
1987
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
3
Bathrooms
6
Total area
105,304 SF
Lot
8.55 ac (372,438 SF)
Zoning code
IB
APN
MILF M:32 B:098 L:10
UPID
US38-0622557
Jurisdiction
MILFORD
Zoning & alternative use
IB · Milford, MA
Zoning IB · permitted uses
IB · Milford, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Milford. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$13.9M
MEDICAL BUILDING
Est. value
$13.0M
RESTAURANT
Est. value
$12.9M
RETAIL STORES
Est. value
$12.6M
AUTO REPAIR, GARAGE
Est. value
$11.9M
OFFICE BUILDING
MEDICAL BUILDING
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
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
1987
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
3
Bathrooms
6
Lot
8.55 ac
Current owner
From public records · entity-resolved
Bpvif V Holdings 18 LLC
Entity
Mailing address
PO BOX 209329, AUSTIN, TX 78720-9276
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 10, 2021
$15,250,000
Bpvif V Holdings 18 LLC
Psgc Milford Industrial
Quit Claim Arm's Length For Ne States
$10,800,000 · Unibank For Savings
Dec 24, 2019
$6,200,000
Psgc Milford Industrial
Milford Fenwal Realty LLC
Quit Claim Arm's Length For Ne States
$11,025,000 · Brookline Bank
Sep 29, 2003
—
Milford-fenwal Rlty LLC
—
Deed Of Trust
related
$4,800,000 · Cambridge Savings Bank
Jan 22, 2003
—
Milford Fenwal Realty LLC
—
Deed Of Trust
related
$1,800,000 · Framingham Cp Bank
Mar 29, 1996
—
Real Est Fafard
—
Deed Of Trust
related
$4,443,384 · Nationwide Life Insco
Mar 17, 1989
—
Howard A Fafard
—
Deed Of Trust
related
$2,900,000 · Zuckerman Family Nomi
Mar 31, 1988
—
Fortune Blvd Rlty Tr
—
Deed Of Trust
related
$800,000 · Bankboston Development Co LLC
Oct 22, 1987
—
Fortune Blvd Rlty Tr
—
Deed Of Trust
related
$4,000,000 · Zuckerman Family Nomi
Feb 26, 1987
—
Fortune Blvd Rlty Tr
—
Deed Of Trust
related
$4,100,000 · Zuckerman Family Nomi
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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