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Property profile & analytics
OFF-MARKET
Estimated value
$2,075,000
Warehouses
56 Mitchell Rd, Ipswich, MA 01938-1219
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-0436623
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1989
Construction
STEEL FRAME
Total area
9,600 SF
Lot
1.58 ac (68,825 SF)
Zoning code
I
APN
IPSW M:021 B:018T L:0
UPID
US38-0436623
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
-
Advanced Precision Engineering Engineer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.04M
CAP Approach
CAP
$1.91M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.08M
Owner & transaction history
Wfs Legacy LLC · 3 yrs held
Wfs Legacy LLC
since 2023
Last sale
$2.1M
6 recorded transactions
Zoning & alternative use
I · Ipswich, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.3M
+145.5%
Apartment house (5+ units)
$3.1M
+127.4%
Office building
$2.5M
+82.8%
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 Ipswich submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ipswich 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
$2,055,000
ML approach
$2,040,000
CAP Approach
CAP Return
Estimation
6%
$2,065,000
6.5%
$1,910,000
7%
$1,770,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,350,000
Current use
RESTAURANT
$3,315,000
Change: +145% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,070,000
Change: +127% · Conversion: Difficult
OFFICE BUILDING
$2,465,000
Change: +83% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,300,000
Change: +70% · Conversion: Easy
RETAIL STORES
$2,135,000
Change: +58% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,915,000
Change: +42% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,570,000
Change: +16% · Conversion: Easy
Blend value · Realmo final
$2.08M
Range $1.87M – $2.28M · ±10% · vs last sale $2.10M (Mar 7 2023)
Last sale anchor
$2.10M
Mar 7 2023
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
$216 / 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
$8,100
Tax year 2024
Assessed value
$711,800
Assessed 2024
Previous assessed
$711,800
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$263,300
Assessed improvement
$448,500
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
1989
Construction
STEEL FRAME
Heating
SPACE
Buildings
1
Stories
1
Units
1
Bathrooms
3
Total area
9,600 SF
Lot
1.58 ac (68,825 SF)
Zoning code
I
APN
IPSW M:021 B:018T L:0
UPID
US38-0436623
Jurisdiction
IPSWICH
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
I · Ipswich, MA
Zoning I · permitted uses
I · Ipswich, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ipswich. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.4M
RESTAURANT
Est. value
$3.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.1M
OFFICE BUILDING
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.3M
RETAIL STORES
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$1.9M
INDUSTRIAL (GENERAL)
Est. value
$1.6M
WAREHOUSE, STORAGE Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
INDUSTRIAL (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
1989
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Buildings
1
Units
1
Bathrooms
3
Lot
1.58 ac
Current owner
From public records · entity-resolved
Wfs Legacy LLC
Entity
Mailing address
56 MITCHELL RD, IPSWICH, MA 01938-1219
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
Mar 7, 2023
$2,100,000
Wfs Legacy LLC
Strack LLC
Quit Claim Arm's Length For Ne States
$1,471,000 · North Shore Bank
Oct 22, 2012
$700,000
Strack LLC
Ajs Realty Co LLC
Grant Deed
$550,000 · North Shore Bank
Feb 1, 2001
$540,000
Ajs Realty Co LLC
Dover RT
Grant Deed
$459,000 · Sovereign Bank
Feb 26, 1998
—
Dover RT
—
Deed Of Trust
related
$103,500 · Salem Five Cents Savings Bank
Dec 21, 1993
—
R T Dover
—
Deed Of Trust
related
$250,000 · Ma Business Development Corp
May 29, 1987
$200,000
Dover RT
Tinker Real Est Tr
Grant Deed
$575,000 · Gary Needham
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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