Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    474 Main St, Unit 1a Wakefield, MA 01880

    • Manufacturing properties
    • 19,474 SF
    • 0.44 lot acres
    For Lease
    View listing
    $3,000 /Mo
    Last Sale
    Aug 02, 2024
    $1,400,000
    Value Estimations
    $1,400,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1727369
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Mystic Industries Corporation / Industrial Manufacturer / Production Facility

    Property Details for 474 Main St

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.44 lot acres
    Property size
    19,474 SF
    Zone code
    B
    Property type
    Manufacturing properties
    APN
    WAKE M:000018 B:0226 P:0006G+
    APU
    WAKEM000018B0226P0006G

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,400,000
      ML approach
      $1,400,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,904,000
      Market price range: $1.67M - $4.95M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wakefield
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.0686
    Latitude
    42.5014
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $24,007
    $398,900
    $707,400
    $1,106,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,365,000
      15,600 SF

      4 Railroad Ave

      MANUFACTURING (LIGHT) • 15,600 SF
      4 Railroad Ave, Wakefield, MA 01880-3240
      View Details
    • Value Estimation by Request
      2,360 SF

      427 Water St

      MANUFACTURING (LIGHT) • 2,360 SF
      427 Water St, Wakefield, MA 01880-3516
      View Details
    • Value Estimation
      $710,000
      7,626 SF

      78 Water St

      MANUFACTURING (LIGHT) • 7,626 SF
      78 Water St, Wakefield, MA 01880-3015
      View Details
    • Value Estimation
      $12,050,000
      149,512 SF

      365 Audubon Rd

      MANUFACTURING (LIGHT) • 149,512 SF
      365 Audubon Rd, Wakefield, MA 01880-1204
      View Details
    • Value Estimation
      $870,000
      7,240 SF

      9 Broadway St

      MANUFACTURING (LIGHT) • 7,240 SF
      9 Broadway St, Wakefield, MA 01880-3210
      View Details
    • Value Estimation
      $2,195,000
      23,866 SF

      50 New Salem St

      MANUFACTURING (LIGHT) • 23,866 SF
      50 New Salem St, Wakefield, MA 01880-1979
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Wakefield Multifamily Near Transportation

      Three-unit property near downtown, commuter rail, shopping, and dining.
      51 Crescent St, Wakefield, MA 01880
      View Details
    • $995,000

      West Side Multifamily Home

      Well-maintained multifamily home in a sought-after West Side location.
      66 Gould St, Wakefield, MA 01880
      View Details
    • $750,000

      Turn-Key Office Building in Wakefield

      Recently renovated office building in downtown Wakefield with on-site parking.
      36 W Water St, Wakefield, MA 01880
      View Details
    • $98,000

      Wakefield Office Space: Prime Location

      Spacious Office, Abundant Parking, Commuter Rail Access
      380 Lowell St, Wakefield, MA 01880
      View Details
    • Contact for pricing

      Prime Location Development Opportunity

      High-profile site suitable for various commercial uses.
      Wakefield, MA 01880
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo

      Main Street Warehouse Space Available

      Warehouse/light industrial space for rent, utilities included.
      474 Main St, Wakefield, MA 01880
      View Details
    • Contact for pricing
      14,145 SF

      70,163 SF Flex/Industrial Building

      Flex/industrial space in Wakefield, MA, with Route 128 access.
      7-11 Audubon Rd, Wakefield, MA 01880
      View Details
    • Contact for pricing
      2,838 SF

      Wakefield Industrial Unit For Rent

      Industrial unit with loading dock, newly renovated in 2025.
      1 Melvin St, Wakefield, MA 01880
      View Details
    • Contact for pricing
      3,660 SF

      Amenity-Rich Office Space Available

      Class A office campus with numerous amenities and natural surroundings.
      401 Edgewater Dr, Wakefield, MA 01880
      View Details
    • $2,300 /Mo
      1,200 SF

      Downtown Wakefield Converted House Office

      Office space in downtown Wakefield, conveniently located near commuter rail.
      15 Richardson Ave, Wakefield, MA 01880
      View Details
    • $272 SF/Yr
      2,000 SF

      Downtown Wakefield Office Space

      Prime Retail/Office, Single Tenant, 950 sq ft.
      209 Albion St, Wakefield, MA 01880
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    474 Main St, Unit 1a
    Wakefield, MA 01880
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.