New search
Property profile & analytics
OFF-MARKET
Estimated value
$6,480,000
Auto shops
48 Joy St, Somerville, MA 02143-2111
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-1751368
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,180 SF
Lot
0.24 ac (10,542 SF)
Zoning code
IA
APN
SOME M:94 B:A L:7
UPID
US38-1751368
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
-
DM Auto Body Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.15M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.48M
Owner & transaction history
Lft Joy Street LLC · 3 yrs held
Lft Joy Street LLC
since 2022
Last sale
$6.8M
7 recorded transactions
Zoning & alternative use
IA · Somerville, 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 Somerville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Somerville 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
$6,175,000
ML approach
$6,150,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$6.48M
Range $5.83M – $7.13M · ±10% · vs last sale $6.80M (Dec 29 2022)
Last sale anchor
$6.80M
Dec 29 2022
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
$1,251 / 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
$21,105
Tax year 2024
Assessed value
$1,159,600
Assessed 2024
Previous assessed
$1,143,800
+1.4% YoY
Effective rate
1.82%
On assessed value
Assessed land
$823,800
Assessed improvement
$335,800
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
RADIANT
Buildings
1
Stories
1
Units
1
Total area
5,180 SF
Lot
0.24 ac (10,542 SF)
Zoning code
IA
APN
SOME M:94 B:A L:7
UPID
US38-1751368
Jurisdiction
SOMERVILLE
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
IA · Somerville, MA
Zoning IA · permitted uses
IA · Somerville, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Somerville. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
RADIANT
Stories
1
Buildings
1
Units
1
Lot
0.24 ac
Current owner
From public records · entity-resolved
Lft Joy Street LLC
Entity
Mailing address
75 CAMBRIDGE PKWY STE #100, CAMBRIDGE, MA 02142-1237
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2022
$6,800,000
Lft Joy Street LLC
Lawrence Cardone
Deed
—
Dec 19, 2022
—
Lawrence Cardone
24-48 Joy Street Dev LLC
Quit Claim Deed
related
—
Jun 22, 2022
—
24-48 Joy Street Dev LLC
Lawrence Cardone
Quit Claim Deed
related
—
Dec 30, 2020
$300,000
Lawrence Cardone
Donald J Mazzeo
Quit Claim Arm's Length For Ne States
—
Dec 30, 2020
—
Lawrence Cardone
Lawrence Cardone
Quit Claim Deed
related
—
Sep 8, 2004
—
Donald J Mazzeo
—
Deed Of Trust
related
$36,000 · Armand Donati
Aug 11, 2004
—
Donald J Mazzeo
—
Deed Of Trust
related
$487,500 · Central Cooperative Bank
Jul 30, 2004
—
Donald J Mazzeo
—
Deed Of Trust
related
$36,000 · Armand Donati
May 6, 2004
$1
Donald J Mazzeo
Mazzeo,donald J
Grant Deed
related
—
Jun 1, 1990
—
Donald J Mazzeo
—
Deed Of Trust
related
$300,000 · Somerset Savings Bank
Nov 6, 1987
—
Donald J Mazzeo
—
Deed Of Trust
related
$250,000 · Somerset Savings Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 48 Joy St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
