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Property profile & analytics
FOR LEASE
Industrial properties
65 Grove St, Watertown, MA 02472
Entity Owned
7-yr Hold
Free & Clear
Property ID
US38-1161812
For Lease
$27,190,000
65 Grove St, Watertown, MA 02472
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1945
Construction
STEEL FRAME
Total area
125,064 SF
Lot
3.4 ac (148,104 SF)
Zoning code
I-2
APN
WATE M:1501 B:0023 L:0000
UPID
US38-1161812
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
-
CDS Visual, Inc. (Bike/Boat/Book/etc) Store Corporate Office
-
Stellular Bio Corporate Office
-
Markem-Imaje Business Service Center Corporate Office
-
Selecta Biosciences Inc Corporate Office
-
Lyndra Therapeutics Inc Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$31.75M
Comparable Approach
Comparable
$19.09M
Blend (final)
Blend
$27.19M
Owner & transaction history
Bre Bmr Grove LLC · 7 yrs held
Bre Bmr Grove LLC
since 2018
7 recorded transactions
Zoning & alternative use
I-2 · Watertown, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Watertown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Watertown 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%
$34,395,000
6.5%
$31,745,000
7%
$29,480,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$44,030,000
Current use
RESTAURANT
$36,310,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$27.19M
Range $24.47M – $29.91M · ±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
$217 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$543,320
Tax year 2019
Assessed value
$72,433,500
Assessed 2024
Previous assessed
$66,814,600
+8.4% YoY
Effective rate
0.75%
On assessed value
Assessed land
$14,275,700
Assessed improvement
$58,157,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Status
For Lease
Year built
1945
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
YES
Buildings
2
Stories
3
Units
2
Bathrooms
13
Total area
125,064 SF
Lot
3.4 ac (148,104 SF)
Zoning code
I-2
APN
WATE M:1501 B:0023 L:0000
UPID
US38-1161812
Jurisdiction
WATERTOWN
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
I-2 · Watertown, MA
Zoning I-2 · permitted uses
I-2 · Watertown, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Watertown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$44.0M
RESTAURANT
Est. value
$36.3M
COMMERCIAL (GENERAL) Current
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
1945
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
Yes
Stories
3
Buildings
2
Units
2
Bathrooms
13
Lot
3.4 ac
Current owner
From public records · entity-resolved
Bre Bmr Grove LLC
Entity
Free & Clear · 7 yrs held
Mailing address
65 GRV ST, WATERTOWN, MA 02472-2826
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 14, 2025
—
Bre-bmr Grove LLC
—
Deed
related
$475,000 · Standard Chartered Bk
Mar 10, 2021
—
Bre Bmr Grv LLC
—
Deed
related
$90,000,000 · Wells Fargo Bank NA
Nov 30, 2018
—
Bre Bmr Grove LLC
—
Deed
related
$58,381,000 · Miscellaneous Fin & Mtg Co
Nov 15, 2018
$62,500,000
Bre Bmr Grove LLC
Cresset Grove LLC
Quit Claim Deed
—
Jun 24, 2014
$5,000,000
Cresset Grove LLC
Ge Ionics INC
Quit Claim Deed
—
Apr 28, 2004
—
Ionics INC
—
Deed Of Trust
related
$255,000,000 · Ubs Ag Stamford Branc
—
—
Bre Bmr Grove LLC
—
Deed Of Trust
related
$58,381,000 · Miscellaneous Fin & Mtg Co
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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