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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    623 Main St Tewksbury, MA 01876-1842

    • Automotive properties
    • 13,524 SF
    • 2.27 lot acres
    OFF-MARKET
    Last Sale
    Aug 17, 2022
    $2,250,000
    Value Estimations
    $1,780,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0400016
    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

    • Eco Auto / Car Dealer

    Property Details for 623 Main St

    Year built
    2001
    Construction
    STEEL FRAME
    Lot size
    2.27 lot acres
    Property size
    13,524 SF
    Zone code
    COM
    Property type
    Automotive properties
    APN
    TEWK M:0034 L:0048 U:0000
    APU
    TEWKM0034L0048U0000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,930,000
      ML approach
      $1,930,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,334,000
      Market price range: $685k - $2.30M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,115,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tewksbury
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.25
    Latitude
    42.6175
    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
    $58,466
    $435,400
    $1,881,000
    $2,316,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $365,000
      6,360 SF

      818 Main St

      VEHICLE SALES, RENTALS • 6,360 SF
      818 Main St, Tewksbury, MA 01876-1802
      View Details
    • Value Estimation
      $310,000
      33,550 SF

      150 Main St

      VEHICLE SALES, RENTALS • 33,550 SF
      150 Main St, Tewksbury, MA 01876-1726
      View Details
    • Value Estimation
      $13,700,000
      41,824 SF

      468 Main St

      VEHICLE SALES, RENTALS • 41,824 SF
      468 Main St, Tewksbury, MA 01876-2564
      View Details
    • Value Estimation
      $390,000
      4,750 SF

      2195 Main St

      VEHICLE SALES, RENTALS • 4,750 SF
      2195 Main St, Tewksbury, MA 01876-3029
      View Details
    • Value Estimation
      $345,000
      5,250 SF

      2221 Main St

      SERVICE STATION (FULL SERVICE) • 5,250 SF
      2221 Main St, Tewksbury, MA 01876-3029
      View Details
    • Value Estimation
      $320,000
      2,224 SF

      1590 Main St

      CAR WASH • 2,224 SF
      1590 Main St, Tewksbury, MA 01876-2067
      View Details

    Similar Nearby for Sale

    • $949,900
      3,260 SF

      Remodeled Freestanding Building For Sale

      Remodeled restaurant/bar with tenant, parking, and unfinished basement.
      2254 Main St, Tewksbury, MA 01876
      View Details
    • $999,800

      Prime Restaurant Location on Route

      Restaurant with 200 seats, function room, full liquor license.
      885 Main St, Tewksbury, MA 01876
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    • $3,000,000

      Industrial Land in Tewksbury, MA

      3.04 acre industrially zoned site with excellent highway access.
      1628-1636 Shawsheen St, Tewksbury, MA 01876
      View Details
    • $299,900

      Prime Commercial Property Investment

      Fully leased commercial property near I-495 with steady income.
      500 Clark Rd, Tewksbury, MA 01876
      View Details
    • Contact for pricing

      Land with Highway Access

      Land with flexible zoning and convenient highway access.
      832 North St, Tewksbury, MA 01876
      View Details
    • $999,999
      0.52 Acres

      Tewksbury Restaurant w/ Lease Income

      High-Visibility Restaurant, Great Lease!
      2254 Main St, Tewksbury, MA 01876
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      94,000 SF

      Tewksbury Retail Center Opportunity

      High-traffic retail space available in Tewksbury, MA
      553 Main St, Tewksbury, MA 01876
      View Details
    • Contact for pricing
      1,485 SF

      Retail Space in Tewksbury Shops

      Retail spaces available in a busy Tewksbury shopping center.
      345 Main St, Tewksbury, MA 01876
      View Details
    • $16 SF/Yr
      2,000 SF

      Retail Space on Main Street

      Retail suites available in Tewksbury, great visibility on Main
      616 Main St, Tewksbury, MA 01876
      View Details
    • Contact for pricing
      694 SF

      Retail Space on Main Street

      Retail spaces available in Tewksbury, MA on well-traveled road.
      1777 Main St, Tewksbury, MA 01876
      View Details
    • $18 SF/Yr
      60,060 SF

      Prime Middlesex County Office Space

      First-floor office, I-93 access, 5,890+ SF
      890 East St, Tewksbury, MA 01876
      View Details
    • Contact for pricing

      Tewksbury Office Building For Rent

      Two-story office building at I-495 and Route 133 junction.
      3 Highwood Dr, Tewksbury, MA 01876
      View Details
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    623 Main St
    Tewksbury, MA 01876-1842
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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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