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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Retail properties & Spaces
424 Marrett Rd, Lexington, MA 02421-7715
Individually Owned
29-yr Hold
~
Est. High Equity
Property ID
US38-0342302
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1915
Construction
FRAME
Total area
3,984 SF
Lot
0.22 ac (9,634 SF)
Zoning code
CSX
APN
LEXI M:0033 L:000078
UPID
US38-0342302
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
-
Shaker Glen Construction Construction Company
-
Woodhaven Realty Real Estate Agency
-
Metro Pets Pet Grooming Service
-
Peter's Painters of Lexington Painting Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$615k
Owner & transaction history
Peter C Kelley · 29 yrs held
Peter C Kelley
since 1996
5 recorded transactions
Zoning & alternative use
CSX · Lexington, 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 Lexington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lexington 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
$154 / 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
$24,127
Tax year 2024
Assessed value
$997,000
Assessed 2024
Previous assessed
$937,000
+6.4% YoY
Effective rate
2.42%
On assessed value
Assessed land
$527,000
Assessed improvement
$470,000
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1915
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
2
Total area
3,984 SF
Lot
0.22 ac (9,634 SF)
Zoning code
CSX
APN
LEXI M:0033 L:000078
UPID
US38-0342302
Jurisdiction
LEXINGTON
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
CSX · Lexington, MA
Zoning CSX · permitted uses
CSX · Lexington, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lexington. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1915
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
2
Lot
0.22 ac
Current owner
From public records · entity-resolved
Peter C Kelley
Individual
Mailing address
424 MARRETT RD, LEXINGTON, MA 02421-7715
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1996
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 1996
—
Peter C Kelley
—
Deed Of Trust
related
$200,000 · Zwi Kohorn
Apr 1, 1994
—
Richard F Perry
—
Deed Of Trust
related
$50,000 · Lexington Savings Bank
Oct 30, 1992
—
Richard F Perry
—
Deed Of Trust
related
$238,000 · Lexington Savings Bank
Dec 16, 1988
—
Richard F Perry
—
Deed Of Trust
related
$335,500 · Zeger Corp Pension Trust
Sep 4, 1987
—
Richard F Perry
—
Deed Of Trust
related
$2,000,000 · Depositors Trust Co
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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