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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    45 Sullivan Rd North Billerica, MA 01862-2003

    • Manufacturing properties
    • 3,500 SF
    • 3.58 lot acres
    OFF-MARKET
    Value Estimations
    $550,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1926140
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Manufacturing properties

    Property Details for 45 Sullivan Rd

    Year built
    2013
    Construction
    STEEL FRAME
    Lot size
    3.58 lot acres
    Property size
    3,500 SF
    Property type
    Manufacturing properties
    APN
    BILL M:0037 B:0011 L:3-1
    APU
    BILLM0037B0011L31

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $620,000
      6.5%
      $575,000
      7%
      $530,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $628,000
      Market price range: $392k - $628k
      AI Estimate
      $441,000
      Market price range: $185k - $477k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $485,000
      Current use
      COMMERCIAL (GENERAL)
      $640,000
      Change: +32% Conversion: Difficult
      OFFICE BUILDING
      $520,000
      Change: +7% Conversion: Difficult
      WAREHOUSE, STORAGE
      $510,000
      Change: +5% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    North Billerica
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.322
    Latitude
    42.568
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $13,145
    $376,300
    $147,600
    $523,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $795,000
      4,960 SF

      98 Billerica Ave

      MANUFACTURING (LIGHT) • 4,960 SF
      98 Billerica Ave, North Billerica, MA 01862-1276
      View Details
    • Value Estimation
      $940,000
      6,000 SF

      8 Republic Rd

      MANUFACTURING (LIGHT) • 6,000 SF
      8 Republic Rd, North Billerica, MA 01862-2504
      View Details
    • Value Estimation
      $18,165,000
      219,164 SF

      400 High St

      MANUFACTURING (LIGHT) • 219,164 SF
      400 High St, North Billerica, MA 01862
      View Details
    • Value Estimation
      $3,270,000
      23,110 SF

      135 Rangeway Rd

      MANUFACTURING (LIGHT) • 23,110 SF
      135 Rangeway Rd, North Billerica, MA 01862-2006
      View Details
    • Value Estimation
      $9,370,000
      75,070 SF

      95 Billerica Ave

      MANUFACTURING (LIGHT) • 75,070 SF
      95 Billerica Ave, North Billerica, MA 01862-1231
      View Details
    • Value Estimation
      $935,000
      7,200 SF

      6 Republic Rd

      MANUFACTURING (LIGHT) • 7,200 SF
      6 Republic Rd, North Billerica, MA 01862-2504
      View Details

    Similar Nearby for Sale

    • $775,000
      3,706 SF

      Industrial Warehouse Condo For Sale

      3706 SF industrial warehouse condo with mezzanine office.
      34 Sullivan Rd, North Billerica, MA 01862
      View Details
    • Contact for pricing

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      Adaptable retail property in high-traffic area, suitable for investors.
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      Commercial real estate
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    • $679,900

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      Two office suites totaling 4,608 SF for sale.
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    • $899,000

      Fully Tenanted Three-Family Property

      Three-family property in Billerica with strong rental income.
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    Similar Nearby for Lease

    • Contact for pricing

      Renovated Flex Space Available

      Renovated flex space suitable for various business needs.
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    • Contact for pricing
      61,795 SF

      Billerica Executive Office Space

      7,700 SF Flex Space Available Now
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    • Contact for pricing
      9,000 SF

      Billerica Warehouse Space for Lease

      9,000 SF industrial/warehouse space with convenient highway access.
      11 Esquire Rd, Billerica, MA 01862
      View Details
    • Contact for pricing
      10,411 SF

      Flex/R&D/Office Space Available

      450,000 SF flex/R&D/office space for growing companies.
      101 Billerica Ave, North Billerica, MA 01862
      View Details
    • Contact for pricing
      4,558 SF

      Flex/Lab Space in Forest Ridge

      Office, flex, and lab space minutes from Route 3.
      85 Rangeway Rd, North Billerica, MA 01862
      View Details
    • Contact for pricing
      5,655 SF

      Billerica Flex Park Space Available

      Two-building flex park totaling 69,250 SF for lease.
      144-148 Rangeway Rd, Billerica, MA 01862
      View Details
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    45 Sullivan Rd
    North Billerica, MA 01862-2003
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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