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Property profile & analytics
OFF-MARKET
Estimated value
$1,805,000
Office buildings
57 Ray Ave, Burlington, MA 01803
Entity Owned
2-yr Hold
Free & Clear
Property ID
US38-0552240
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1965
Construction
STEEL FRAME
Total area
5,500 SF
Lot
0.37 ac (16,274 SF)
Zoning code
IG
APN
BURL M:000054 P:0003-5
UPID
US38-0552240
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.81M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.81M
Owner & transaction history
5 Ray Ave LLC · 2 yrs held
5 Ray Ave LLC
since 2023
Last sale
$1.9M
6 recorded transactions
Zoning & alternative use
IG · Burlington, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.6M
+58.3%
Auto repair, garage
$1.6M
+53.4%
Neighborhood: shopping center
$1.5M
+51.0%
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 Burlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burlington 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
$1,710,000
ML approach
$1,805,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,595,000
Change: +58% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,550,000
Change: +53% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,525,000
Change: +51% · Conversion: Difficult
RETAIL STORES
$1,485,000
Change: +47% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,420,000
Change: +41% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,265,000
Change: +26% · Conversion: Easy
Blend value · Realmo final
$1.81M
Range $1.62M – $1.99M · ±10% · vs last sale $1.85M (Nov 3 2023)
Last sale anchor
$1.85M
Nov 3 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
$328 / 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
$15,953
Tax year 2024
Assessed value
$618,100
Assessed 2024
Previous assessed
$618,100
+0.0% YoY
Effective rate
2.58%
On assessed value
Assessed land
$306,600
Assessed improvement
$311,500
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1965
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
1
Units
1
Bathrooms
4
Total area
5,500 SF
Lot
0.37 ac (16,274 SF)
Zoning code
IG
APN
BURL M:000054 P:0003-5
UPID
US38-0552240
Jurisdiction
BURLINGTON
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
IG · Burlington, MA
Zoning IG · permitted uses
IG · Burlington, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Burlington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
RETAIL STORES
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.3M
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1965
Construction
STEEL FRAME
Heating
CENTRAL
Stories
1
Buildings
1
Units
1
Bathrooms
4
Lot
0.37 ac
Current owner
From public records · entity-resolved
5 Ray Ave LLC
Entity
Free & Clear · 2 yrs held
Mailing address
57 RAY AVE, BURLINGTON, MA 01803
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
Apr 29, 2025
—
5 Ray Ave LLC
—
Deed
related
$1,800,000 · M & T Bank
Nov 3, 2023
$1,850,000
5 Ray Ave LLC
Harry L Spatz 2017 Ret
Quit Claim Arm's Length For Ne States
—
Sep 30, 2019
—
Harry,l Spatz 2017 Ret Trust
Spatz,harry L
Quit Claim Deed
related
—
Mar 22, 1999
$458,000
Harry L Spatz
Almark T
Grant Deed
—
Mar 26, 1996
—
T Almark
—
Deed Of Trust
related
$100,000 · Zuckerman Family Nomi
Sep 2, 1993
$286,000
T Almark
Somrock Corp
Grant Deed
$257,400 · Somerset 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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