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Property profile & analytics
OFF-MARKET
Estimated value
$20,545,000
Life science properties
650 Pleasant St, Watertown, MA 02472-2420
Entity Owned
4-yr Hold
Free & Clear
Property ID
US38-0550597
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1950
Construction
STEEL FRAME
Total area
68,504 SF
Lot
3.25 ac (141,483 SF)
Zoning code
PSCD
APN
WATE M:0810 B:0004 L:0001A
UPID
US38-0550597
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
-
AdvancedCath Medical Supply Store
-
Arranta Bio MA Llc Corporate Office
-
Arranta Bio Factory Production Facility
-
ReciBioPharm Corporate Office
-
The Field Companies Inc. Printing Service (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$18.44M
Blend (final)
Blend
$20.55M
Owner & transaction history
Hsre Waterbio LLC · 4 yrs held
Hsre Waterbio LLC
since 2021
Last sale
$21.6M
7 recorded transactions
Zoning & alternative use
PSCD · Watertown, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$24.1M
+116.0%
Restaurant
$19.9M
+78.1%
Auto repair, garage
$19.3M
+72.7%
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
$20,470,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$24,120,000
Change: +116% · Conversion: Difficult
RESTAURANT
$19,890,000
Change: +78% · Conversion: Difficult
AUTO REPAIR, GARAGE
$19,280,000
Change: +73% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$18,980,000
Change: +70% · Conversion: Difficult
RETAIL STORES
$18,465,000
Change: +65% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$15,785,000
Change: +41% · Conversion: Difficult
OFFICE BUILDING
$14,995,000
Change: +34% · Conversion: Difficult
Blend value · Realmo final
$20.55M
Range $18.49M – $22.60M · ±10% · vs last sale $21.64M (Sep 27 2021)
Last sale anchor
$21.64M
Sep 27 2021
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
$300 / 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
$975,225
Tax year 2024
Assessed value
$42,254,100
Assessed 2024
Previous assessed
$41,426,400
+2.0% YoY
Effective rate
2.31%
On assessed value
Assessed land
$9,188,300
Assessed improvement
$33,065,800
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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
Off-Market
Year built
1950
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
9
Total area
68,504 SF
Lot
3.25 ac (141,483 SF)
Zoning code
PSCD
APN
WATE M:0810 B:0004 L:0001A
UPID
US38-0550597
Jurisdiction
WATERTOWN
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
PSCD · Watertown, MA
Zoning PSCD · permitted uses
PSCD · 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)
Est. value
$24.1M
RESTAURANT
Est. value
$19.9M
AUTO REPAIR, GARAGE
Est. value
$19.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$19.0M
RETAIL STORES
Est. value
$18.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$15.8M
OFFICE BUILDING
Est. value
$15.0M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1950
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
9
Lot
3.25 ac
Current owner
From public records · entity-resolved
Hsre Waterbio LLC
Entity
Free & Clear · 4 yrs held
Mailing address
444 W LK ST STE #2100, CHICAGO, IL 60606-0069
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 27, 2021
$21,641,038
Hsre Waterbio LLC
650 Psw LLC
Quit Claim Arm's Length For Ne States
—
Jan 2, 2020
$12,000,000
650 Psw LLC
650 Pleasant Street LLC
Quit Claim Deed
related
—
Jul 3, 2019
—
650 Pleasant Street LLC
—
Deed
related
$500,000 · Wellesley Bk
Nov 9, 2016
—
650 Pleasant Street Ll
—
Deed
related
$250,000 · Wellesley Bk
Dec 23, 2010
—
650 Pleasant Street LLC
—
Deed Of Trust
related
$300,000 · Wellesley Cp Bank
Feb 17, 2006
$4,750,000
650 Pleasant St LLC
Boston Scientific Corp
Land Court
$4,275,000 · Wellesley Cp Bk
Mar 27, 1992
$4,150,000
Boston Scientific Corp
650 Pleasant St RT
Grant Deed
—
—
—
650 Pleasant Street LLC
—
Deed Of Trust
related
$500,000 · Wellesley Bk
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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