New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,750,000
Warehouses
5 Michigan Dr, Natick, MA 01760-1350
Entity Owned
14-yr Hold
Free & Clear
Property ID
US38-0655591
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1964
Construction
FRAME
Total area
23,800 SF
Lot
0.71 ac (31,076 SF)
Zoning code
INI
APN
NATI M:00000015 P:0000105B
UPID
US38-0655591
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
-
CS Recitations Tutoring Service Training Center
-
Timmins Enterprises (Bike/Boat/Book/etc) Store
-
PrimeTime Lacrosse Gym & Fitness Center Sports Field & Court
-
The Kinder Group, LLC Security Service
-
Spark Advertising LLC Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.75M
Owner & transaction history
Michigan Drive Realty LLC · 14 yrs held
Michigan Drive Realty LLC
since 2011
3 recorded transactions
Zoning & alternative use
INI · Natick, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.6M
+32.1%
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 Natick submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Natick 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
$3,460,000
Current use
OFFICE BUILDING
$4,575,000
Change: +32% · Conversion: Difficult
Blend value · Realmo final
$2.75M
Range $2.48M – $3.03M · ±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
$116 / 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
$40,300
Tax year 2024
Assessed value
$3,287,100
Assessed 2024
Previous assessed
$3,287,100
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$856,400
Assessed improvement
$2,430,700
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
1964
Construction
FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Units
1
Rooms
2
Total area
23,800 SF
Lot
0.71 ac (31,076 SF)
Zoning code
INI
APN
NATI M:00000015 P:0000105B
UPID
US38-0655591
Jurisdiction
NATICK
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
INI · Natick, MA
Zoning INI · permitted uses
INI · Natick, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Natick. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$3.5M
OFFICE BUILDING
Est. value
$4.6M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
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
1964
Construction
FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Units
1
Rooms
2
Lot
0.71 ac
Current owner
From public records · entity-resolved
Michigan Drive Realty LLC
Entity
Free & Clear · 14 yrs held
Mailing address
19 TECH CIR, NATICK, MA 01760-1023
Ownership since
2011
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
Mar 12, 2026
—
Michigan Drive Realty LLC
—
Deed
related
$1,198,000 · Middlesex Fed Svgs Fa
Sep 29, 2025
—
Michigan Drive Realty LLC
—
Deed
related
$790,612 · Middlesex Fsla
Dec 2, 2011
$1,200,000
Michigan Drive Realty LLC
Hosokawa Micron Internati
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.
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 5 Michigan Dr?
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.
