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Property profile & analytics
OFF-MARKET
Estimated value
$970,000
Super regional malls
515 Lowell St, Peabody, MA 01960-1382
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US38-0962626
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1985
Construction
FRAME
Total area
33,200 SF
Lot
2.34 ac (101,930 SF)
Zoning code
BR
APN
PEAB M:0036 B:0002
UPID
US38-0962626
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
-
Miller Mortgage, LLC Loan Service Bank
-
Zolotas Peabody Kitchen Bath Hardware & Home Improvement Kitchen & Bath Showroom
-
Home Decor Plaza Business Service Center Corporate Office
-
RE/MAX 360 : Luciano Leone Team Real Estate Agency
-
Zambrano Properties & Associates Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$925k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.01M
Blend (final)
Blend
$970k
Owner & transaction history
Lee Tapper · 7 yrs held
Lee Tapper
since 2018
4 recorded transactions
Zoning & alternative use
BR · Peabody, 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 Peabody submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Peabody 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
$925,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,435,000
Current use
Blend value · Realmo final
$970k
Range $873k – $1.07M · ±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
$29 / 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
$69,720
Tax year 2024
Assessed value
$3,702,600
Assessed 2024
Previous assessed
$3,702,600
+0.0% YoY
Effective rate
1.88%
On assessed value
Assessed land
$1,450,400
Assessed improvement
$2,252,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1985
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
14
Total area
33,200 SF
Lot
2.34 ac (101,930 SF)
Zoning code
BR
APN
PEAB M:0036 B:0002
UPID
US38-0962626
Jurisdiction
PEABODY
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
BR · Peabody, MA
Zoning BR · permitted uses
BR · Peabody, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Peabody. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1985
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
14
Lot
2.34 ac
Current owner
From public records · entity-resolved
Lee Tapper
Individual
Mailing address
515 LOWELL ST, PEABODY, MA 01960-1382
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 7, 2018
—
Lee Tapper
Tapper
Trustees Deed
$1,600,000 · North Shore Bank
Mar 1, 2013
—
RT Tapper
—
Deed Of Trust
related
$475,000 · North Shore Bank
Oct 17, 2003
—
Lee M Tapper
—
Deed Of Trust
related
$650,000 · Banknorth NA
Nov 25, 1997
—
RT Tapper
—
Deed Of Trust
related
$1,950,000 · Warren Five Cts Savings
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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