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Property profile & analytics
OFF-MARKET
Estimated value
$65,245,000
Warehouses
45 Commerce Way, Norton, MA 02766-3313
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US38-0574257
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
559,641 SF
Lot
73.61 ac (3,206,452 SF)
APN
NORT M:25 P:1
UPID
US38-0574257
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
-
Horizon Beverage Company Big Box & Wholesale Store
-
Horizon Beverage Group Big Box & Wholesale Store Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$41.87M
Blend (final)
Blend
$65.25M
Owner & transaction history
Props LLC · 15 yrs held
Props LLC
since 2011
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$99.6M
+34.5%
Retail stores
$91.8M
+24.0%
Apartment house (5+ units)
$89.6M
+21.0%
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 Norton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norton 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
WAREHOUSE, STORAGE
$74,025,000
Current use
AUTO REPAIR, GARAGE
$99,590,000
Change: +35% · Conversion: Easy
RETAIL STORES
$91,820,000
Change: +24% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$89,600,000
Change: +21% · Conversion: Difficult
OFFICE BUILDING
$85,495,000
Change: +16% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$85,480,000
Change: +15% · Conversion: Moderate
COMMERCIAL (GENERAL)
$83,365,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$65.25M
Range $58.72M – $71.77M · ±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
$117 / 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
$943,184
Tax year 2024
Assessed value
$68,149,140
Assessed 2024
Previous assessed
$67,176,610
+1.4% YoY
Effective rate
1.38%
On assessed value
Assessed land
$13,567,200
Assessed improvement
$54,581,940
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Total area
559,641 SF
Lot
73.61 ac (3,206,452 SF)
APN
NORT M:25 P:1
UPID
US38-0574257
Jurisdiction
NORTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$74.0M
AUTO REPAIR, GARAGE
Est. value
$99.6M
RETAIL STORES
Est. value
$91.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$89.6M
OFFICE BUILDING
Est. value
$85.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$85.5M
COMMERCIAL (GENERAL)
Est. value
$83.4M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
73.61 ac
Current owner
From public records · entity-resolved
Props LLC
Entity
Mailing address
45 COMMERCE WAY, NORTON, MA 02766-3313
Ownership since
2011
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
Jan 26, 2021
—
E&r Prop LLC
—
Deed
related
$12,944,556 · Citizens Bank Of Rhode Island
Jun 16, 2011
$20,600,000
Props LLC
Cabot 2 Maiboi LLC
Grant Deed
$15,708,000 · Wells Fargo Mortgage
Feb 8, 2008
—
Cabot Malbol LLC
—
Deed Of Trust
related
$104,655,000 · New York Insurance Co
Jan 3, 2008
$25,085,000
Cabot Ma 1b01 LLC
General Motors Corp
Grant Deed
—
Sep 1, 2004
$6,250,000
General Motors Corp
Norton Future Nt
Grant Deed
—
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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