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Property profile & analytics
OFF-MARKET
Estimated value
$2,240,000
Medical Office Space
479 Old Un Tpke, Lancaster, MA 01523-3029
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US38-0351305
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2004
Total area
19,712 SF
Lot
3.6 ac (156,816 SF)
Zoning code
C
APN
LANC M:003.0 B:0000 L:0003.0
UPID
US38-0351305
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
by Request
Comparable Approach
Comparable
$1.91M
Blend (final)
Blend
$2.24M
Owner & transaction history
Mass Electric Co · 22 yrs held
Mass Electric Co
since 2004
7 recorded transactions
Zoning & alternative use
C · Lancaster, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Lancaster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lancaster 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
MEDICAL BUILDING
$2,430,000
Current use
RESTAURANT
$2,405,000
Change: -1% · Conversion: Difficult
OFFICE BUILDING
$2,260,000
Change: -7% · Conversion: Easy
RETAIL STORES
$2,010,000
Change: -17% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,945,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$2.24M
Range $2.02M – $2.46M · ±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
$114 / 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
$46,461
Tax year 2024
Assessed value
$2,661,000
Assessed 2024
Previous assessed
$2,644,400
+0.6% YoY
Effective rate
1.75%
On assessed value
Assessed land
$441,000
Assessed improvement
$2,220,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Year built
2004
Heating
HOT WATER
Buildings
3
Stories
2
Units
1
Total area
19,712 SF
Lot
3.6 ac (156,816 SF)
Zoning code
C
APN
LANC M:003.0 B:0000 L:0003.0
UPID
US38-0351305
Jurisdiction
LANCASTER
Zoning & alternative use
C · Lancaster, MA
Zoning C · permitted uses
C · Lancaster, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lancaster. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.4M
RESTAURANT
Est. value
$2.4M
OFFICE BUILDING
Est. value
$2.3M
RETAIL STORES
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.9M
MEDICAL BUILDING Current
RESTAURANT
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
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
2004
Heating
HOT WATER
Stories
2
Buildings
3
Units
1
Lot
3.6 ac
Current owner
From public records · entity-resolved
Mass Electric Co
Entity
Mailing address
107 CATERINA HTS, HOPKINTON, MA 01748
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 11, 2019
—
Middax LLC
—
Deed
related
$300,000 · Brookline LLC
Dec 21, 2018
—
Middax LLC
—
Deed
related
$1,900,000 · Brookline Bank
Jul 30, 2007
—
Middax LLC
—
Deed Of Trust
related
$1,510,000 · General Electric Capital Corp
Sep 24, 2004
—
Middax LLC
—
Deed Of Trust
related
$1,299,000 · New Eng Dev Corp
Jan 8, 2004
$1
Mass Electric Co
Middax INC
Grant Deed
related
—
Dec 16, 2003
$1
Mass Electric Co
Middax LLC
Grant Deed
related
—
Sep 17, 2003
—
Middax LLC
—
Deed Of Trust
related
$2,761,000 · Southern Nh Bank & Trust
Sep 17, 2003
$1
Middax LLC
Middax LLC
Grant Deed
related
—
Feb 4, 2000
—
Derby RT
—
Deed Of Trust
related
$75,000 · John Fanelli
May 22, 1998
—
Derby RT
—
Deed Of Trust
related
$125,000 · John Fanelli
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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