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    Property profile & analytics

    61 Central St Norwood, MA 02062-3551

    • Auto shops
    • 5,850 SF
    • 0.18 lot acres
    OFF-MARKET
    Last Sale
    May 29, 2025
    $970,000
    Value Estimations
    $1,095,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1099782
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Brewster Ambulance Service / Ambulance Service

    Property Details for 61 Central St

    Year built
    1950
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.18 lot acres
    Property size
    5,850 SF
    Property type
    Auto shops
    APN
    NORW M:00001 B:00006 L:0013B
    APU
    NORWM00001B00006L0013B

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,175,000
      ML approach
      $1,180,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,170,000
      Market price range: $893k - $2.83M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,715,000
      RETAIL STORES
      $1,715,000
      APARTMENT HOUSE (5+ UNITS)
      $1,680,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Norwood
    County
    Norfolk
    State
    Massachusetts
    Longitude
    -71.1999
    Latitude
    42.1928
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $15,247
    $133,300
    $504,100
    $637,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $755,000
      10,325 SF

      145 Broadway

      AUTO REPAIR, GARAGE • 10,325 SF
      145 Broadway, Norwood, MA 02062-3436
      View Details
    • Value Estimation
      $830,000
      4,920 SF

      291 Lenox St

      AUTO REPAIR, GARAGE • 4,920 SF
      291 Lenox St, Norwood, MA 02062-3417
      View Details
    • Value Estimation by Request
      3,552 SF

      433 Walpole St

      AUTO REPAIR, GARAGE • 3,552 SF
      433 Walpole St, Norwood, MA 02062-3034
      View Details
    • Value Estimation by Request
      3,396 SF

      883 Washington St

      AUTO REPAIR, GARAGE • 3,396 SF
      883 Washington St, Norwood, MA 02062-3430
      View Details
    • Value Estimation by Request
      3,872 SF

      1255 Washington St

      AUTO REPAIR, GARAGE • 3,872 SF
      1255 Washington St, Norwood, MA 02062-4024
      View Details
    • Value Estimation by Request
      4,095 SF

      305 Boston Providence Tpke

      AUTO REPAIR, GARAGE • 4,095 SF
      305 Boston Providence Tpke, Norwood, MA 02062-3932
      View Details

    Similar Nearby for Sale

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      2,610 SF

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      Fully occupied auto repair facility near Route 1 Auto Mile.
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      Prime commercial property on Route 1 in Norwood, Massachusetts.
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    • $4,000,000
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      Norwood Industrial/Automotive Opportunity

      Versatile 14,000 SF industrial/automotive space on 1 acre.
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    • $2,450,000
      7,000 SF

      Industrial/Automotive Building For Sale

      7,000 SF industrial/automotive building with multiple tenants.
      915 Pleasant St, Norwood, MA 02062
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      2,610 SF

      Norwood Auto Repair Facility For Sale

      2,610 SF auto repair facility on 0.96 acres.
      900 Pleasant St, Norwood, MA 02062
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    Similar Nearby for Lease

    • $23 SF/Yr
      1,886 SF

      Versatile Retail Space in Norwood

      1,886 SF retail space with premium finishes and parking.
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    • Contact for pricing
      5,940 SF

      Norwood Retail Space For Lease

      High-traffic retail space available in Norwood, MA.
      954 Providence Hwy, Norwood, MA 02062
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    • $25 SF/Yr
      6,258 SF

      Norwood Two-Story Building For Rent

      Two-story building in downtown Norwood with ample parking.
      157 Central St, Norwood, MA 02062
      View Details
    • Contact for pricing

      Downtown Norwood Office/Showroom Space

      Bright, freshly painted office/showroom in downtown Norwood.
      856 Washington St, Norwood, MA 02062
      View Details
    • Contact for pricing
      1,300 SF

      Renovated Office/Retail Space Available

      Renovated 1,298 SF office/retail space in high-traffic Norwood location.
      175 Walpole St, Norwood, MA 02062
      View Details
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    61 Central St
    Norwood, MA 02062-3551
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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