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Property profile & analytics
OFF-MARKET
Estimated value
$229,155,000
Office buildings
466 Atlantic Ave 474, Boston, MA 02210-2437
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-0217440
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1924
Construction
STEEL FRAME
Total area
338,481 SF
Lot
0.83 ac (36,176 SF)
Zoning code
C
APN
CBOS W:03 P:02956 S:000
UPID
US38-0217440
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
by Request
CAP Approach
CAP
$163.77M
Comparable Approach
Comparable
$208.02M
Blend (final)
Blend
$229.16M
Owner & transaction history
Nflsre 470 Atlantic LLC · 4 yrs held
Nflsre 470 Atlantic LLC
since 2021
Last sale
$238.0M
7 recorded transactions
Zoning & alternative use
C · Boston, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$227.8M
+9.5%
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 Boston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boston 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
$232,590,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$177,420,000
6.5%
$163,770,000
7%
$152,075,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$208,020,000
Current use
RESTAURANT
$227,755,000
Change: +9% · Conversion: Moderate
AUTO REPAIR, GARAGE
$199,160,000
Change: -4% · Conversion: Difficult
RETAIL STORES
$181,895,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$229.16M
Range $206.24M – $252.07M · ±10% · vs last sale $238.00M (Dec 17 2021)
Last sale anchor
$238.00M
Dec 17 2021
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
$677 / 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
$3,925,452
Tax year 2024
Previous assessed
$154,854,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1924
Construction
STEEL FRAME
Heating
NONE
Buildings
1
Stories
14
Units
15
Total area
338,481 SF
Lot
0.83 ac (36,176 SF)
Zoning code
C
APN
CBOS W:03 P:02956 S:000
UPID
US38-0217440
Jurisdiction
BOSTON
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
C · Boston, MA
Zoning C · permitted uses
C · Boston, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boston. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$208.0M
RESTAURANT
Est. value
$227.8M
AUTO REPAIR, GARAGE
Est. value
$199.2M
RETAIL STORES
Est. value
$181.9M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
1924
Construction
STEEL FRAME
Heating
NONE
Stories
14
Buildings
1
Units
15
Lot
0.83 ac
Current owner
From public records · entity-resolved
Nflsre 470 Atlantic LLC
Entity
Mailing address
60 STATE ST STE #1020, BOSTON, MA 02109-1842
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 17, 2021
$238,000,000
Nflsre 470 Atlantic LLC
Csrefi Independence Wharf
Quit Claim Arm's Length For Ne States
—
Sep 28, 2009
$106,250,000
Csrefi Independence Wharf
Independence Wharf LLC
Grant Deed
—
Jul 1, 2002
$82,200,000
Independence Wharf LLC
Independence Wharf RT
Grant Deed
related
—
Aug 17, 1999
$50,450
Modern Continental 470
Atlantic Ave Mgmt 47
Grant Deed
$36,777,419 · Atlantic Mortgage Corp
Aug 17, 1999
—
Modern Continental 470
—
Deed Of Trust
related
$8,672,580 · Zuckerman Family Nomi
Jul 28, 1999
$1,000
470 Atlantic Ave Mgmt
Harborista Assoc LP
Grant Deed
related
—
Feb 10, 1989
—
Harborista Assocs LP
—
Deed Of Trust
related
$10,000,000 · Zuckerman Family Nomi
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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