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Property profile & analytics
OFF-MARKET
Estimated value
$2,895,000
Manufacturing properties
6 Martel Way, Georgetown, MA 01833-2223
Entity Owned
12-yr Hold
Free & Clear
Property ID
US38-1048738
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
20,870 SF
Lot
3.78 ac (164,506 SF)
APN
GEOR M:00016 B:00000 L:0011H
UPID
US38-1048738
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
by Request
CAP Approach
CAP
$3.42M
Comparable Approach
Comparable
$2.85M
Blend (final)
Blend
$2.90M
Owner & transaction history
Miral LLC · 12 yrs held
Miral LLC
since 2014
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.7M
+61.2%
Retail stores
$3.0M
+3.4%
Warehouse, storage
$2.9M
+1.3%
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 Georgetown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Georgetown 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%
$3,700,000
6.5%
$3,415,000
7%
$3,170,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,895,000
Current use
OFFICE BUILDING
$4,670,000
Change: +61% · Conversion: Difficult
RETAIL STORES
$2,995,000
Change: +3% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,935,000
Change: +1% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,840,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$2.90M
Range $2.61M – $3.18M · ±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
$139 / 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
$33,860
Tax year 2024
Assessed value
$2,698,000
Assessed 2024
Previous assessed
$2,409,100
+12.0% YoY
Effective rate
1.26%
On assessed value
Assessed land
$309,100
Assessed improvement
$2,388,900
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Total area
20,870 SF
Lot
3.78 ac (164,506 SF)
APN
GEOR M:00016 B:00000 L:0011H
UPID
US38-1048738
Jurisdiction
GEORGETOWN
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
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
INDUSTRIAL (GENERAL) Current
Est. value
$2.9M
OFFICE BUILDING
Est. value
$4.7M
RETAIL STORES
Est. value
$3.0M
WAREHOUSE, STORAGE
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$2.8M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (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
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Lot
3.78 ac
Current owner
From public records · entity-resolved
Miral LLC
Entity
Free & Clear · 12 yrs held
Mailing address
6 MARTEL WAY, GEORGETOWN, MA 01833-2223
Ownership since
2014
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
Jun 17, 2022
—
Miral LLC
—
Deed
related
$500,000 · Salem Five Cents Savings Bank
Sep 13, 2019
—
Miral LLC
—
Deed
related
$1,260,000 · Eastern Bank
Jul 1, 2014
$1,545,358
Miral LLC
Good Baking LLC
Quit Claim Deed
—
Jul 1, 2014
—
Jack Karp
Karps Boston Realty Co
Quit Claim Deed
related
—
Sep 22, 2009
—
Good Baking LLC
—
Deed Of Trust
related
$1,325,000 · Pentucket 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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