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Property profile & analytics
OFF-MARKET
Estimated value
$1,050,000
Investment properties
54 R Jones Rd, Spencer, MA 01562-2722
Individually Owned
20-yr Hold
Property ID
US38-0010292
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,328 SF
Lot
129.99 ac (5,662,364 SF)
APN
SPEN M:00R25 B:00017 L:00000
UPID
US38-0010292
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
-
Prime Property Developers Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.30M
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$1.05M
Owner & transaction history
Carl A Leinonen · 20 yrs held
Carl A Leinonen
since 2005
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.5M
+42.6%
Auto repair, garage
$1.4M
+39.4%
Office building
$1.3M
+23.6%
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 Spencer submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spencer 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%
$1,400,000
6.5%
$1,295,000
7%
$1,200,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,025,000
Current use
RETAIL STORES
$1,465,000
Change: +43% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,430,000
Change: +39% · Conversion: Difficult
OFFICE BUILDING
$1,270,000
Change: +24% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,175,000
Change: +15% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,120,000
Change: +9% · Conversion: Moderate
WAREHOUSE, STORAGE
$935,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$1.05M
Range $945k – $1.16M · ±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
$113 / 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
$12,736
Tax year 2024
Assessed value
$1,113,276
Assessed 2024
Previous assessed
$1,113,276
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$109,876
Assessed improvement
$1,003,400
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
2
Stories
1
Units
2
Bathrooms
2
Total area
9,328 SF
Lot
129.99 ac (5,662,364 SF)
APN
SPEN M:00R25 B:00017 L:00000
UPID
US38-0010292
Jurisdiction
SPENCER
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
COMMERCIAL (GENERAL) Current
Est. value
$1.0M
RETAIL STORES
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$935,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Buildings
2
Units
2
Bathrooms
2
Lot
129.99 ac
Current owner
From public records · entity-resolved
Carl A Leinonen
Individual
Mailing address
54 R JONES RD, SPENCER, MA 01562-2722
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2005
—
Carl A Leinonen
—
Deed Of Trust
related
$307,000 · First Pioneer Farm Credit Aca
Jun 13, 2002
—
Carl A Leinonen
—
Deed Of Trust
related
$253,000 · First Pioneer Farm Credit Aca
Jun 17, 1994
—
Leinonen Realty INC
—
Deed Of Trust
related
$161,000 · Southbridge Cu
Mar 16, 1993
—
Carl A Leinonen
—
Deed Of Trust
related
$319,000 · Southbridge Cu
Apr 17, 1992
—
Carl Leinonen
—
Deed Of Trust
related
$260,000 · N Brookfield Savings 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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