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Property profile & analytics
OFF-MARKET
Estimated value
$2,185,000
Showrooms
423rd Watertown St Newton, MA 02458-1113
Entity Owned
Absentee Owner
Free & Clear
Property ID
US38-1521665
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
17,411 SF
Lot
0.69 ac (30,005 SF)
Zoning code
BU2
APN
NEWT S:14 B:008 L:0006A
UPID
US38-1521665
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.19M
Owner & transaction history
FRANCHI, LOUIS
FRANCHI, LOUIS
Zoning & alternative use
BU2 · Newton, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of the zone to promote business uses
Zone name
Business 2
General category
COMMERCIAL
Zone area
82.81 ac
Source
Realmo
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 Newton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newton 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$125 / 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
$29,350
Tax year 2024
Assessed value
$1,601,200
Assessed 2024
Previous assessed
$1,525,700
+4.9% YoY
Effective rate
1.83%
On assessed value
Assessed land
$968,000
Assessed improvement
$633,200
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
1
Stories
1
Units
6
Rooms
6
Bathrooms
6
Total area
17,411 SF
Lot
0.69 ac (30,005 SF)
Zoning code
BU2
APN
NEWT S:14 B:008 L:0006A
UPID
US38-1521665
Jurisdiction
NEWTON
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
BU2 · Newton, MAZoning BU2 · permitted uses
BU2 · Newton, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of the zone to promote business uses
Zone name
Business 2
General category
COMMERCIAL
Zone area
82.81 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
1
Units
6
Rooms
6
Bathrooms
6
Lot
0.69 ac
Current owner
From public records · entity-resolved
FRANCHI, LOUIS
Individual
Free & Clear · 0 yrs held
Mailing address
182 W CENTRAL ST STE #303, NATICK, MA 01760-3756
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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