Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    509 Broadway, Unit 2 Revere, MA 02151-3065

    • Commercial real estate
    • 1,175 SF
    OFF-MARKET
    Last Sale
    Sep 19, 2024
    $135,000
    Value Estimations
    $135,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-2540198
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 509 Broadway

    Year built
    1970
    Construction
    STEEL FRAME
    Property size
    1,175 SF
    Zone code
    GB
    Property type
    Commercial real estate
    APN
    REVE M:16 B:262-263 L:8 U:2
    APU
    REVEM16B262263L8U2

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $135,000
      ML approach
      $135,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Revere
    County
    Suffolk
    State
    Massachusetts
    Longitude
    -71.0106
    Latitude
    42.4122
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $4,568
    $0.00
    $252,400
    $252,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $310,000
      0.61 Acres

      20 Furlong Dr

      COMMERCIAL (GENERAL) • 0.61 Acres
      20 Furlong Dr, Revere, MA 02151-4006
      View Details
    • Value Estimation
      $580,000
      2.77 Acres

      36 Lee Burbank Hwy

      COMMERCIAL (GENERAL) • 2.77 Acres
      36 Lee Burbank Hwy, Revere, MA 02151
      View Details
    • Value Estimation
      $475,000
      19.51 Acres

      339 Squire Rd

      COMMERCIAL (GENERAL) • 19.51 Acres
      339 Squire Rd, Revere, MA 02151-6148
      View Details
    • Value Estimation by Request
      30,920 SF

      777 Shr Rd

      SHOW ROOM, WAREHOUSE • 30,920 SF
      777 Shr Rd, Revere, MA 02151-1545
      View Details
    • Value Estimation
      $320,000
      1,711 SF

      140 School St

      SHOW ROOM, WAREHOUSE • 1,711 SF
      140 School St, Revere, MA 02151-3013
      View Details
    • Value Estimation
      $310,000
      2,572 SF

      1 Shirley Ave

      SHOW ROOM, WAREHOUSE • 2,572 SF
      1 Shirley Ave, Revere, MA 02151-5109
      View Details

    Similar Nearby for Sale

    • $999,999
      0.09 Acres

      Revere Mixed-Use Commercial Property

      Prime Revere location, high pedestrian traffic. Two leased storefronts & single-family home.
      Broadway, Revere, MA 02151
      View Details
    • $1,799,900
      0.19 Acres

      Revere Commercial Development Opportunity

      Prime Revere location, high development potential.
      Broadway, Revere, MA 02151
      View Details
    • $699,990

      Revere Multifamily Investment Opportunity

      Classic multifamily property in Revere with significant upside potential.
      12 Clark Rd, Revere, MA 02151
      View Details
    • $884,900

      Spacious Two-Family Near Revere Beach

      Two-family property with updates, near Revere Beach and public transit.
      95 Bates St, Revere, MA 02151
      View Details
    • $849,000

      Revere Multi-Family Home

      Move-in ready multi-family home with outdoor dining area.
      37 Franklin Ave, Revere, MA 02151
      View Details
    • $1,890,000

      Six-Unit Apartment Building Near Beach

      Fully occupied six-unit apartment building near Revere Beach.
      83 Shirley Ave, Revere, MA 02151
      View Details

    Similar Nearby for Lease

    • $4,500 /Mo

      Prime Revere Beach Retail/Office Space

      New construction retail/office space near public transportation and major highways.
      650 Beach St, Revere, MA 02151
      View Details
    • Contact for pricing
      9,306 SF

      Retail Space in Revere

      9,306 SF retail space available for rent.
      9 Everett St, Revere, MA 02151
      View Details
    • Contact for pricing

      Two-Story Retail/Office Building Available

      3,800 SF free-standing building suitable for retail, office, restaurant.
      Revere, MA 02151
      View Details
    • Contact for pricing
      3,658 SF

      Ocean Ave Retail Spaces

      Revere, MA: Prime Retail Opportunity
      646 Ocean Ave, Revere, MA 02151
      View Details
    • Contact for pricing
      121,320 SF

      Revere Retail Center Opportunity

      High-traffic shopping center, 2 suites available.
      40 Furlong Dr, Revere, MA 02151
      View Details
    • Contact for pricing
      1,414 SF

      Retail Space in Revere Plaza

      Retail spaces available in high-visibility Revere shopping center.
      3 Everett St, Revere, MA 02151
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    509 Broadway, Unit 2
    Revere, MA 02151-3065
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.