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Property profile & analytics
OFF-MARKET
Estimated value
$7,270,000
Super regional malls
510 Main St, Leominster, MA 01453-1814
Entity Owned
21-yr Hold
Free & Clear
Property ID
US38-0445056
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
76,705 SF
Lot
5.49 ac (239,144 SF)
APN
LEOM M:0204 B:0003 L:0000
UPID
US38-0445056
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
-
Urgent Care Leominster Medical Clinic
-
Marshalls Department Store
-
HomeGoods Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.53M
Blend (final)
Blend
$7.27M
Owner & transaction history
212 Realty LLC · 21 yrs held
212 Realty LLC
since 2005
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$12.0M
+24.3%
Auto repair, garage
$11.8M
+21.6%
Office building
$11.0M
+13.2%
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 Leominster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Leominster 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
NEIGHBORHOOD: SHOPPING CENTER
$9,680,000
Current use
RETAIL STORES
$12,035,000
Change: +24% · Conversion: Easy
AUTO REPAIR, GARAGE
$11,770,000
Change: +22% · Conversion: Difficult
OFFICE BUILDING
$10,960,000
Change: +13% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$9,205,000
Change: -5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$8,825,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$7.27M
Range $6.54M – $8.00M · ±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
$95 / 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
$84,939
Tax year 2024
Assessed value
$5,853,800
Assessed 2024
Previous assessed
$4,925,500
+18.8% YoY
Effective rate
1.45%
On assessed value
Assessed land
$1,647,500
Assessed improvement
$4,206,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
4
Bathrooms
2
Total area
76,705 SF
Lot
5.49 ac (239,144 SF)
APN
LEOM M:0204 B:0003 L:0000
UPID
US38-0445056
Jurisdiction
LEOMINSTER
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$9.7M
RETAIL STORES
Est. value
$12.0M
AUTO REPAIR, GARAGE
Est. value
$11.8M
OFFICE BUILDING
Est. value
$11.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.2M
COMMERCIAL (GENERAL)
Est. value
$8.8M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
4
Bathrooms
2
Lot
5.49 ac
Current owner
From public records · entity-resolved
212 Realty LLC
Entity
Free & Clear · 21 yrs held
Mailing address
975 MERRIAM AVE STE #213, LEOMINSTER, MA 01453-1220
Ownership since
2005
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
Jul 27, 2022
—
212 Realty LLC
—
Deed
related
$2,000,000 · Rollstone Bank & Trust
Dec 9, 2020
—
212 Rlty LLC
—
Deed
related
$2,200,000 · Rollstone Bank & Trust
Sep 27, 2013
—
212 Realty LLC
—
Deed Of Trust
related
$1,600,000 · Clinton Savings Bank
Sep 21, 2012
—
2-12 Realty LLC
—
Deed Of Trust
related
$1,650,000 · Clinton Savings Bank
Feb 22, 2005
$1
212 Realty LLC
Two & Twelve T
Grant Deed
—
Mar 27, 1997
—
Two&twelve Trust
—
Deed Of Trust
related
$8,200,000 · First Massachusetts Bank
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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