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Property profile & analytics
OFF-MARKET
Office buildings
487-491 Essex St Lawrence, MA 01840
Individually Owned
3-yr Hold
Free & Clear
Property ID
US38-0505511
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1971
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,092 SF
Lot
0.12 ac (5,046 SF)
APN
LAWR M:0145 B:0000 L:0031
UPID
US38-0505511
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Sito RT · 3 yrs held
Sito RT
since 2022
Last sale
$260,000
6 recorded transactions
Zoning & alternative use
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 Lawrence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lawrence 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$12,705
Tax year 2024
Assessed value
$655,900
Assessed 2024
Previous assessed
$535,100
+22.6% YoY
Effective rate
1.94%
On assessed value
Assessed land
$160,000
Assessed improvement
$495,900
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1971
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
2
Bathrooms
2
Total area
10,092 SF
Lot
0.12 ac (5,046 SF)
APN
LAWR M:0145 B:0000 L:0031
UPID
US38-0505511
Jurisdiction
LAWRENCE
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1971
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
2
Bathrooms
2
Lot
0.12 ac
Current owner
From public records · entity-resolved
Sito RT
Individual
Free & Clear · 3 yrs held
Mailing address
510 ESSEX ST, LAWRENCE, MA 01840-1242
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 9, 2022
—
Sito RT
Lawrence City Of
Redemption Deed
related
—
Feb 1, 2013
$260,000
Sito RT
Northern Inv LLC
Grant Deed
$100,000 · Sito RT
Apr 24, 2008
$235,000
Northern Investments LLC
J2m2 LLC
Grant Deed
—
Jul 6, 2006
—
J2m2 LLC
—
Deed Of Trust
related
$50,000 · Sovereign Bank
Apr 12, 2002
$130,000
J2m2 LLC
Classics Club INC
Grant Deed
$135,000 · First Essex Bank
Oct 4, 1995
$48,750
Classics Club INC
Whitworth RT
Grant Deed
—
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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