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Property profile & analytics
OFF-MARKET
Estimated value
$3,225,000
Manufacturing properties
65 Arbor Way, Fitchburg, MA 01420-4636
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US38-0717619
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2001
Construction
STEEL FRAME
Total area
43,840 SF
Lot
15.89 ac (692,038 SF)
Zoning code
I
APN
FITC M:110R B:0010 L:2
UPID
US38-0717619
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
-
ACHLA Designs (Bike/Boat/Book/etc) Store Hardware & Home Improvement
-
Minuteman International Ltd Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.23M
Owner & transaction history
Bell Realty Assoc LLC · 22 yrs held
Bell Realty Assoc LLC
since 2004
2 recorded transactions
Zoning & alternative use
I · Fitchburg, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$5.3M
+49.9%
Warehouse, storage
$4.4M
+25.4%
Office building
$4.0M
+13.6%
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 Fitchburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fitchburg 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,510,000
Current use
APARTMENT HOUSE (5+ UNITS)
$5,260,000
Change: +50% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,400,000
Change: +25% · Conversion: Easy
OFFICE BUILDING
$3,985,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$3.23M
Range $2.90M – $3.55M · ±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
$74 / 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
$34,091
Tax year 2024
Assessed value
$2,301,900
Assessed 2024
Previous assessed
$2,186,200
+5.3% YoY
Effective rate
1.48%
On assessed value
Assessed land
$478,400
Assessed improvement
$1,823,500
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
2001
Construction
STEEL FRAME
Heating
RADIANT
Buildings
1
Stories
1
Units
1
Bathrooms
4
Total area
43,840 SF
Lot
15.89 ac (692,038 SF)
Zoning code
I
APN
FITC M:110R B:0010 L:2
UPID
US38-0717619
Jurisdiction
FITCHBURG
Zoning & alternative use
I · Fitchburg, MA
Zoning I · permitted uses
I · Fitchburg, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fitchburg. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.3M
WAREHOUSE, STORAGE
Est. value
$4.4M
OFFICE BUILDING
Est. value
$4.0M
INDUSTRIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
OFFICE BUILDING
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
2001
Construction
STEEL FRAME
Heating
RADIANT
Stories
1
Buildings
1
Units
1
Bathrooms
4
Lot
15.89 ac
Current owner
From public records · entity-resolved
Bell Realty Assoc LLC
Entity
Mailing address
65 ARBOR WAY, FITCHBURG, MA 01420-4636
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 18, 2004
$500,000
Bell Realty Assoc LLC
Fitchburg Redevelopme Ity
Grant Deed
$375,000 · Enterprise Bank & Trust
Apr 19, 2000
$293,909
Aah Realty LLC
Fitchburg Redev Author
Grant Deed
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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