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Property profile & analytics
OFF-MARKET
Estimated value
$650,000
Office buildings
462 Merrimack St Methuen, MA 01844-5804
Entity Owned
16-yr Hold
Free & Clear
Property ID
US38-0438257
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Construction
STEEL FRAME
Total area
6,156 SF
Lot
0.7 ac (30,623 SF)
Zoning code
BH
APN
METH M:01109 B:00078E L:00006B
UPID
US38-0438257
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
-
Costa-Eagle Media Television Studio Media Distribution
-
WCCM Radio Station Telecommunications Service
-
Forteleciendo La Familia Radio Station Telecommunications Service
-
WNNW Radio Station Telecommunications Service
-
WCEC Radio Station Telecommunications Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$816k
Blend (final)
Blend
$650k
Owner & transaction history
462 Merrimack Street LLC · 16 yrs held
462 Merrimack Street LLC
since 2009
5 recorded transactions
Zoning & alternative use
BH · Methuen, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
B. Applicability. An application for a Billboard Special Permit shall be allowed in the BH and IL Zoning districts. C. Applications. Billboards require a special permit, as set forth in this Section XI. The special permit granting authority shall be the Board of Appeals. Prior to the grant of any special permit, the Department of Economic and Community Devel…
Zone name
Highway Business District
General category
COMMERCIAL
Zone area
706.99 ac
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 Methuen submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Methuen 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
OFFICE BUILDING
$1,045,000
Current use
INDUSTRIAL (GENERAL)
$1,010,000
Change: -3% · Conversion: Difficult
WAREHOUSE, STORAGE
$865,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$650k
Range $585k – $715k · ±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
$106 / 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
$13,287
Tax year 2024
Assessed value
$632,700
Assessed 2024
Previous assessed
$599,400
+5.6% YoY
Effective rate
2.10%
On assessed value
Assessed land
$270,800
Assessed improvement
$361,900
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
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
3
Total area
6,156 SF
Lot
0.7 ac (30,623 SF)
Zoning code
BH
APN
METH M:01109 B:00078E L:00006B
UPID
US38-0438257
Jurisdiction
METHUEN
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
BH · Methuen, MAZoning BH · permitted uses
BH · Methuen, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
B. Applicability. An application for a Billboard Special Permit shall be allowed in the BH and IL Zoning districts. C. Applications. Billboards require a special permit, as set forth in this Section XI. The special permit granting authority shall be the Board of Appeals. Prior to the grant of any special permit, the Department of Economic and Community Development shall provide a written recommendation to the Board. Applications for Billboard Special Permits shall be completed and filed in accordance with the Rules and Regulations of the SPGA. In addition to the general requirements of
Zone name
Highway Business District
General category
COMMERCIAL
Zone area
706.99 ac
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.0M
INDUSTRIAL (GENERAL)
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$865,000
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
3
Lot
0.7 ac
Current owner
From public records · entity-resolved
462 Merrimack Street LLC
Entity
Free & Clear · 16 yrs held
Mailing address
462 MERRIMACK ST, METHUEN, MA 01844-5804
Ownership since
2009
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
Mar 31, 2011
—
462 Merrimack Street LLC
—
Deed Of Trust
related
$380,000 · Enterprise Bank & Trust
Nov 12, 2009
$1
462 Merrimack Street LLC
Costa,patrick J
Grant Deed
—
Nov 12, 2009
—
462 Merrimack Street LLC
—
Deed Of Trust
related
$113,000 · Enterprise Bank & Trust
Sep 12, 2003
—
462 Merrimack St LLC
—
Deed Of Trust
related
$130,000 · First Essex Bank
Jan 3, 1995
—
Patrick J Costa
—
Deed Of Trust
related
$100,000 · First Essex Savings 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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