Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,880,000
Office buildings
46 Commerce Way Norton, MA 02766-3313
Entity Owned
7-yr Hold
Free & Clear
Property ID
US38-1972540
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2017
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,000 SF
Lot
5.43 ac (236,737 SF)
APN
NORT M:25 P:86
UPID
US38-1972540
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
-
National Weather Service Office - Boston / Norton Television Studio Radio Station
-
NWS Northeast River Forecast Center (NERFC) Television Studio Radio Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.24M
Comparable Approach
Comparable
$2.76M
Blend (final)
Blend
$2.88M
Owner & transaction history
Boyd Norton LLC · 7 yrs held
Boyd Norton LLC
since 2018
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.8M
+53.2%
Auto repair, garage
$2.1M
+16.5%
Retail stores
$2.0M
+7.4%
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%
$3,505,000
6.5%
$3,235,000
7%
$3,005,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,835,000
Current use
RESTAURANT
$2,810,000
Change: +53% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,135,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$1,970,000
Change: +7% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,920,000
Change: +5% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,835,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,790,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$2.88M
Range $2.59M – $3.17M · ±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
$240 / 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
$58,917
Tax year 2024
Assessed value
$4,257,000
Assessed 2024
Previous assessed
$4,184,000
+1.7% YoY
Effective rate
1.38%
On assessed value
Assessed land
$361,000
Assessed improvement
$3,896,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2017
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Buildings
1
Total area
12,000 SF
Lot
5.43 ac (236,737 SF)
APN
NORT M:25 P:86
UPID
US38-1972540
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
OFFICE BUILDING Current
Est. value
$1.8M
RESTAURANT
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$2.1M
RETAIL STORES
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.8M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
2017
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Buildings
1
Lot
5.43 ac
Current owner
From public records · entity-resolved
Boyd Norton LLC
Entity
Free & Clear · 7 yrs held
Mailing address
PO BOX 13470, RICHMOND, VA 23225-8470
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 4, 2018
$5,650,000
Boyd Norton LLC
46 Cmrc LLC
Quit Claim Deed
—
Jun 12, 2017
—
46 Commerce LLC
Ncc Land Cif 2 LLC
Quit Claim Deed
related
$4,075,510 · Middlesex Svgs Bk
—
—
Commerce LLC
—
Deed Of Trust
related
$4,075,510 · Middlesex Svgs Bk
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 46 Commerce Way?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
