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Property profile & analytics
OFF-MARKET
Estimated value
$805,000
Retail space
43 Main St, Lee, MA 01238
Individually Owned
12-yr Hold
Free & Clear
Property ID
US38-1750637
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1886
Construction
FRAME
Total area
7,496 SF
Lot
0.09 ac (3,920 SF)
Zoning code
B
APN
LEEE M:018 B:0A L:0000-0057.0
UPID
US38-1750637
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
-
Pumpkin Patch Quilts (Bike/Boat/Book/etc) Store Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$863k
Blend (final)
Blend
$805k
Owner & transaction history
Richard F Shields · 12 yrs held
Richard F Shields
since 2013
7 recorded transactions
Zoning & alternative use
B · Lee, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+1.9%
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 Lee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lee 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,075,000
Current use
COMMERCIAL (GENERAL)
$1,095,000
Change: +2% · Conversion: Easy
OFFICE BUILDING
$1,045,000
Change: -3% · Conversion: Easy
AUTO REPAIR, GARAGE
$975,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$805k
Range $725k – $886k · ±10%
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
$107 / 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
$6,452
Tax year 2024
Assessed value
$574,000
Assessed 2024
Previous assessed
$531,100
+8.1% YoY
Effective rate
1.12%
On assessed value
Assessed land
$128,600
Assessed improvement
$445,400
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 space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1886
Construction
FRAME
Heating
FORCED AIR
Buildings
1
Stories
2
Total area
7,496 SF
Lot
0.09 ac (3,920 SF)
Zoning code
B
APN
LEEE M:018 B:0A L:0000-0057.0
UPID
US38-1750637
Jurisdiction
LEE
Zoning & alternative use
B · Lee, MA
Zoning B · permitted uses
B · Lee, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lee. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$975,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1886
Construction
FRAME
Heating
FORCED AIR
Stories
2
Buildings
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
Richard F Shields
Individual
Free & Clear · 12 yrs held
Mailing address
27 ACADEMY ST, LEE, MA 01238-1601
Ownership since
2013
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
Apr 22, 2021
—
Richard F Shields
—
Deed
related
$404,000 · Lee Bank
Aug 13, 2013
—
Richard F Shields
Shields,richard F
Quit Claim Deed
related
—
Nov 10, 2005
$537,250
Richard F Shields
Downing,patrick F
Grant Deed
$429,000 · Lee Bank
Jun 13, 2003
—
Beth A Downing
—
Deed Of Trust
related
$300,000 · Lee Bank
Jun 21, 1995
—
Patrick Downing
—
Deed Of Trust
related
$200,000 · Bankboston Development Co LLC
Aug 9, 1994
—
Patrick F Downing
—
Deed Of Trust
related
$250,000 · Lee Bank
Aug 9, 1994
$312,500
Patrick F Downing
Downing,francis X
Grant Deed
related
$232,500 · Zenon Grzybowski
May 16, 1989
—
Francis X Downing
—
Deed Of Trust
related
$100,000 · Lee Bank
Mar 5, 1987
—
Francis X Downing
—
Deed Of Trust
related
$99,500 · Lee 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.
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