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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Office Spaces
5 Higginson Sqn1 Salem, MA 01970
Entity Owned
9-yr Hold
Free & Clear
Property ID
US38-1309564
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1900
Construction
STEEL FRAME
Total area
1,748 SF
Lot
0.14 ac (6,098 SF)
Zoning code
B
APN
SALE M:35 L:0252 S:802
UPID
US38-1309564
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
$800k
Comparable Approach
Comparable
$693k
Blend (final)
Blend
$755k
Owner & transaction history
Sperling Investment LLC · 9 yrs held
Sperling Investment LLC
since 2016
3 recorded transactions
Zoning & alternative use
B · Salem, 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 Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem 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%
$865,000
6.5%
$800,000
7%
$740,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$500,000
Current use
COMMERCIAL (GENERAL)
$485,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$755k
Range $680k – $831k · ±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
$432 / 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
$9,542
Tax year 2024
Assessed value
$402,800
Assessed 2024
Previous assessed
$402,800
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed improvement
$402,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1900
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
4
Rooms
4
Bathrooms
2
Total area
1,748 SF
Lot
0.14 ac (6,098 SF)
Zoning code
B
APN
SALE M:35 L:0252 S:802
UPID
US38-1309564
Jurisdiction
SALEM
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
B · Salem, MA
Zoning B · permitted uses
B · Salem, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$500,000
COMMERCIAL (GENERAL)
Est. value
$485,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
1900
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
4
Buildings
1
Rooms
4
Bathrooms
2
Lot
0.14 ac
Current owner
From public records · entity-resolved
Sperling Investment LLC
Entity
Free & Clear · 9 yrs held
Mailing address
10 DERBY ST #1, SALEM, MA 01970-5621
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 4, 2016
$345,000
Sperling Investment LLC
Stpierre,andrew
Quit Claim Deed
—
Apr 25, 2014
$295,000
Andrew Stpierre
10 Derby Square LLC
Condominium Deed
—
Jun 19, 2006
$405,000
10 Derby Square LLC
Higginson Block RT
Grant Deed
$324,000 · Gary Needham
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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