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Property profile & analytics
OFF-MARKET
Estimated value
$625,000
Warehouses
499 Main St, Gardner, MA 01440-3020
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US38-1701437
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1895
Construction
FRAME
Total area
6,160 SF
Lot
0.37 ac (16,200 SF)
APN
GARD M:R22 B:22 L:10
UPID
US38-1701437
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
-
Royal Steam Heater Co General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$855k
Blend (final)
Blend
$625k
Owner & transaction history
Royal Steam Heater Co · 1 yrs held
Royal Steam Heater Co
since 2024
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$965,000
+56.4%
Auto repair, garage
$945,000
+52.9%
Office building
$840,000
+35.5%
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 Gardner submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gardner 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
WAREHOUSE, STORAGE
$620,000
Current use
RETAIL STORES
$965,000
Change: +56% · Conversion: Moderate
AUTO REPAIR, GARAGE
$945,000
Change: +53% · Conversion: Easy
OFFICE BUILDING
$840,000
Change: +36% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$775,000
Change: +26% · Conversion: Moderate
COMMERCIAL (GENERAL)
$745,000
Change: +20% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$740,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$625k
Range $563k – $688k · ±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
$101 / 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
$4,179
Tax year 2024
Assessed value
$278,800
Assessed 2024
Previous assessed
$278,800
+0.0% YoY
Effective rate
1.50%
On assessed value
Assessed land
$72,100
Assessed improvement
$206,700
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1895
Construction
FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
2
Total area
6,160 SF
Lot
0.37 ac (16,200 SF)
APN
GARD M:R22 B:22 L:10
UPID
US38-1701437
Jurisdiction
GARDNER
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$620,000
RETAIL STORES
Est. value
$965,000
AUTO REPAIR, GARAGE
Est. value
$945,000
OFFICE BUILDING
Est. value
$840,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$775,000
COMMERCIAL (GENERAL)
Est. value
$745,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$740,000
WAREHOUSE, STORAGE Current
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1895
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
2
Lot
0.37 ac
Current owner
From public records · entity-resolved
Royal Steam Heater Co
Entity
Mailing address
PO BOX 427, GARDNER, MA 01440-0427
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 5, 2024
—
Royal Steam Heater Co
—
Deed
related
$2,000,000 · Td Bank NA
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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