Individually Owned 
For Lease
1 / 12
$18 SF/Yr
47 Congress St, Salem, MA 01970
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Property summary
AI-generated overview
Shetland Park is a 29-acre waterfront business center in Salem, Massachusetts, designed to provide business workspace with views of the waterfront and access to the city’s historic and entertainment district. The campus is positioned north of Boston and includes office and business space configurations ranging from approximately 1,000 to 100,000 square feet, with options for spaces built to suit tenant requirements and move-in-ready layouts.
Property profile
Verified
Property type
Other industrial properties
Use group
INDUSTRIAL (GENERAL)
Lot
29.12 ac (1,268,467 SF)
Zoning code
I
APN
SALE M:34 L:0448
UPID
US38-1566625
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Physician
-
Dental Office
-
Atm
-
Physician
-
Pediatrician Physician
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$615k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$615k
Owner & transaction history
since 2019
4 recorded transactions
Zoning & alternative use
I · Salem, MA
Zoning description
The Intent of this To promote Industrial Uses
General category
INDUSTRIAL
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$615k
Value range
$554k – $677k
±10% around blend
Confidence
Property data
63
Market benchmarks
33
Comparable evidence
60
Income certainty
100
$554k
blend $615k
$677k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
Lot area
29.12 ac
APN
SALE M:34 L:0448
Zoning
I
Assessed value
$62,307,700
Annual tax
$1,603,007
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$1,603,007
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$615k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 211 sales
$164
N/A
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
Not available
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$39.82M
Move the market yield to see immediate price impact.
Value / SF
N/A
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$2.51M
$50.17M
$35.84M
$27.87M
$2.79M
$55.75M
$39.82M
$30.97M
$3.07M
$61.32M
$43.80M
$34.07M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$1,603,007
Tax year 2020
Assessed value
$62,307,700
Assessed 2024
Previous assessed
$62,307,700
+0.0% YoY
Effective rate
2.57%
On assessed value
Assessed land
$21,401,800
Assessed improvement
$40,905,900
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Heating
NONE
Buildings
7
Units
6
Lot
29.12 ac (1,268,467 SF)
Zoning code
I
APN
SALE M:34 L:0448
UPID
US38-1566625
Jurisdiction
SALEM
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
I · Salem, MAZoning I · permitted uses
I · Salem, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The Intent of this To promote Industrial Uses
General category
INDUSTRIAL
Building & site characteristics
From public records
Heating
NONE
Buildings
7
Units
6
Lot
29.12 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
I
INDUSTRIAL
Jurisdiction
Salem, MA
Recorded code
I
Official district
I
Official district profile
What the municipal code says about I
Zoning description
The Intent of this To promote Industrial Uses
General category
INDUSTRIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for I in Salem, MA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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