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Property profile & analytics
OFF-MARKET
Estimated value
$2,645,000
Medical Office Space
464 Hillside Ave Needham, MA 02494-1227
Entity Owned
17-yr Hold
Absentee Owner
Free & Clear
Property ID
US38-0359898
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Total area
72,390 SF
Lot
1.78 ac (77,319 SF)
Zoning code
I
APN
NEED M:100.0 B:0004 L:0000.0
UPID
US38-0359898
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
-
Stephen Rotman Physician
-
Dr. Hassan Arif Physician
-
Christine Pierre Physician
-
Hershey Judith L Physician
-
Dr. Ronald Gomes Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.65M
Owner & transaction history
PALAESTRA ASOCIATES
PALAESTRA ASOCIATES
Zoning & alternative use
I · Needham, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this district I is to promote Institutional uses.
Zone name
Institutional
General category
CIVIC_INSTITUTIONAL
Zone area
73.34 ac
Source
Realmo
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 Needham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Needham 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
Blend value · Realmo final
$2.65M
Range $2.38M – $2.91M · ±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
$37 / 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
$193,378
Tax year 2024
Assessed value
$7,870,500
Assessed 2024
Previous assessed
$7,281,400
+8.1% YoY
Effective rate
2.46%
On assessed value
Assessed land
$827,900
Assessed improvement
$7,042,600
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Cooling
YES
Buildings
3
Total area
72,390 SF
Lot
1.78 ac (77,319 SF)
Zoning code
I
APN
NEED M:100.0 B:0004 L:0000.0
UPID
US38-0359898
Jurisdiction
NEEDHAM
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
I · Needham, MAZoning I · permitted uses
I · Needham, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this district I is to promote Institutional uses.
Zone name
Institutional
General category
CIVIC_INSTITUTIONAL
Zone area
73.34 ac
Source
Realmo
Building & site characteristics
From public records
Cooling
Yes
Buildings
3
Lot
1.78 ac
Current owner
From public records · entity-resolved
PALAESTRA ASOCIATES
Individual
Free & Clear · 0 yrs held
Mailing address
187 ROSEMARY ST, NEEDHAM, MA 02494-3239
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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