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Property profile & analytics
OFF-MARKET
Estimated value
$16,000,000
Assisted living facilities
589 Highland Ave Needham, MA 02494-2205
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US38-1943030
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1995
Total area
65,886 SF
Lot
2.54 ac (110,642 SF)
Zoning code
GR
APN
NEED M:077.0 B:0001 L:0000.0
UPID
US38-1943030
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
-
Jill A. Keirstead, Cota Physician
-
Caitlin J. Ryan, OTR Physician
-
Barbara Lasky Nursing Home
-
Lindsay Mirakovits Physician
-
Patricia Campbell Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$16.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$16.00M
Owner & transaction history
WHC NEEDHAM LLC · 2 yrs held
WHC NEEDHAM LLC
since 2024
Last sale
$16.0M
1 recorded transaction
Zoning & alternative use
GR · Needham, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this district GR is to promote General Residence uses.
Zone name
General Residence
General category
RESIDENTIAL
Zone area
190.67 ac
Source
Realmo
Top alternative use upside
Office building
$21.5M
+973.5%
Restaurant
$11.7M
+485.6%
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 Needham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Needham 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
$16,000,000
ML approach
$16,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$21,520,000
Change: +973% · Conversion: Difficult
RESTAURANT
$11,740,000
Change: +486% · Conversion: Difficult
Blend value · Realmo final
$16.00M
Range $14.40M – $17.60M · ±10% · vs last sale $16.00M (Dec 31 2024)
Last sale anchor
$16.00M
Dec 31 2024
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
$243 / 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
$96,656
Tax year 2024
Assessed value
$3,933,900
Assessed 2024
Previous assessed
$4,052,800
-2.9% YoY
Effective rate
2.46%
On assessed value
Assessed land
$3,881,200
Assessed improvement
$52,700
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1995
Cooling
YES
Buildings
3
Total area
65,886 SF
Lot
2.54 ac (110,642 SF)
Zoning code
GR
APN
NEED M:077.0 B:0001 L:0000.0
UPID
US38-1943030
Jurisdiction
NEEDHAM
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
GR · Needham, MAZoning GR · permitted uses
GR · Needham, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this district GR is to promote General Residence uses.
Zone name
General Residence
General category
RESIDENTIAL
Zone area
190.67 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$21.5M
RESTAURANT
Est. value
$11.7M
OFFICE BUILDING
RESTAURANT
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
1995
Cooling
Yes
Buildings
3
Lot
2.54 ac
Current owner
From public records · entity-resolved
WHC NEEDHAM LLC
Entity
Free & Clear · 2 yrs held
Mailing address
63 KENDRICK ST, NEEDHAM, MA 02494-2760
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2024
$16,000,000
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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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