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Property profile & analytics
OFF-MARKET
Estimated value
$18,800,000
Warehouses
450 Whitney St, Northborough, MA 01532-2504
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US38-0765586
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1973
Total area
102,284 SF
Lot
6.1 ac (265,725 SF)
Zoning code
I
APN
NBOR M:0150 L:0014
UPID
US38-0765586
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
$18.80M
CAP Approach
CAP
$18.34M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$18.80M
Owner & transaction history
448-450 Whitney LLC · 1 yrs held
448-450 Whitney LLC
since 2024
Last sale
$18.8M
6 recorded transactions
Zoning & alternative use
I · Northborough, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$19.3M
+87.9%
Retail stores
$16.1M
+56.4%
Auto repair, garage
$15.7M
+52.9%
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 Northborough submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Northborough 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
$18,800,000
ML approach
$18,800,000
CAP Approach
CAP Return
Estimation
6%
$19,865,000
6.5%
$18,335,000
7%
$17,025,000
Alternative Use
Use
Estimation
RESTAURANT
$19,285,000
Change: +88% · Conversion: Difficult
RETAIL STORES
$16,050,000
Change: +56% · Conversion: Moderate
AUTO REPAIR, GARAGE
$15,690,000
Change: +53% · Conversion: Easy
OFFICE BUILDING
$13,910,000
Change: +36% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$12,910,000
Change: +26% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$12,270,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$18.80M
Range $16.92M – $20.68M · ±10% · vs last sale $18.80M (Oct 4 2024)
Last sale anchor
$18.80M
Oct 4 2024
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
$184 / 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
$138,626
Tax year 2024
Assessed value
$9,707,700
Assessed 2024
Previous assessed
$9,707,700
+0.0% YoY
Effective rate
1.43%
On assessed value
Assessed land
$1,826,600
Assessed improvement
$7,881,100
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1973
Heating
SPACE
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
4
Total area
102,284 SF
Lot
6.1 ac (265,725 SF)
Zoning code
I
APN
NBOR M:0150 L:0014
UPID
US38-0765586
Jurisdiction
NORTHBOROUGH
Zoning & alternative use
I · Northborough, MA
Zoning I · permitted uses
I · Northborough, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Northborough. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$19.3M
RETAIL STORES
Est. value
$16.1M
AUTO REPAIR, GARAGE
Est. value
$15.7M
OFFICE BUILDING
Est. value
$13.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$12.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$12.3M
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
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
1973
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
4
Lot
6.1 ac
Current owner
From public records · entity-resolved
448-450 Whitney LLC
Entity
Mailing address
666 3RD AVESTE17, NEW YORK, NY 10017-4011
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 4, 2024
$18,800,000
448-450 Whitney LLC
G&i Ix 450 Whitney LLC
Quit Claim Arm's Length For Ne States
$80,800,000 · Bref Six Trs LLC
Jul 2, 2021
—
G&i 9 450 Whitney LLC
—
Deed
related
$738,530,000 · Royal Bank Of Canada
Feb 8, 2017
$23,333,923
G & I 9 450 Whitney LLC
Cabot 2 Ma1m5 LLC
Quit Claim Deed
related
$738,530 · Royal Bk/canada
Sep 11, 2008
—
Cabot Industrial Value Op
—
Deed Of Trust
related
$59,728,000 · Prudential Insurance Co
Dec 2, 1997
$4,050,000
State Teachers Retirem
Mgi 450 Whitney Ave
Grant Deed
—
May 10, 1995
$2,250,000
450 Whitney Ave Mgi
45 Whitney Ave LP
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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