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Property profile & analytics
OFF-MARKET
Estimated value
$4,060,000
Manufacturing properties
697 Hartford Tpke, Shrewsbury, MA 01545-4103
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US38-1784054
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1970
Construction
STEEL FRAME
Total area
34,724 SF
Lot
3.29 ac (143,312 SF)
Zoning code
LI
APN
SHRE M:42 B:023000
UPID
US38-1784054
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
-
Harvey Remodeling LLC Renovation Specialist General Contractor
-
Thomas Rothwell Spa Spa & Massage Center
-
Sound Sensation Electronics & Wireless Store Auto Parts Store
-
Intoxalock Ignition Interlock Building Supply General Contractor
-
Elite Academy of Dance Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.86M
CAP Approach
CAP
$4.88M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.06M
Owner & transaction history
Me Realty LLC · 2 yrs held
Me Realty LLC
since 2023
Last sale
$4.3M
7 recorded transactions
Zoning & alternative use
LI · Shrewsbury, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.5M
+135.6%
Retail stores
$5.5M
+96.0%
Auto repair, garage
$5.3M
+91.7%
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 Shrewsbury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shrewsbury 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
$3,775,000
ML approach
$3,860,000
CAP Approach
CAP Return
Estimation
6%
$5,285,000
6.5%
$4,875,000
7%
$4,530,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,780,000
Current use
RESTAURANT
$6,545,000
Change: +136% · Conversion: Difficult
RETAIL STORES
$5,450,000
Change: +96% · Conversion: Moderate
AUTO REPAIR, GARAGE
$5,325,000
Change: +92% · Conversion: Easy
OFFICE BUILDING
$4,720,000
Change: +70% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,385,000
Change: +58% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,165,000
Change: +50% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,820,000
Change: +38% · Conversion: Difficult
Blend value · Realmo final
$4.06M
Range $3.65M – $4.47M · ±10% · vs last sale $4.30M (Nov 28 2023)
Last sale anchor
$4.30M
Nov 28 2023
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
$117 / 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
$19,732
Tax year 2024
Assessed value
$1,593,900
Assessed 2024
Previous assessed
$1,593,900
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$311,000
Assessed improvement
$1,282,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1970
Construction
STEEL FRAME
Heating
OIL
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
8
Total area
34,724 SF
Lot
3.29 ac (143,312 SF)
Zoning code
LI
APN
SHRE M:42 B:023000
UPID
US38-1784054
Jurisdiction
SHREWSBURY
Zoning & alternative use
LI · Shrewsbury, MA
Zoning LI · permitted uses
LI · Shrewsbury, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shrewsbury. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.8M
RESTAURANT
Est. value
$6.5M
RETAIL STORES
Est. value
$5.5M
AUTO REPAIR, GARAGE
Est. value
$5.3M
OFFICE BUILDING
Est. value
$4.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.2M
COMMERCIAL (GENERAL)
Est. value
$3.8M
INDUSTRIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1970
Construction
STEEL FRAME
Heating
OIL
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
8
Lot
3.29 ac
Current owner
From public records · entity-resolved
Me Realty LLC
Entity
Mailing address
697 HARTFORD TPKE, SHREWSBURY, MA 01545-4103
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
Nov 28, 2023
$4,300,000
Me Realty LLC
Hartford Turnpike LLC
Quit Claim Arm's Length For Ne States
$3,000,000 · Mutualone Bank
Oct 10, 2023
—
Hartford Turnpike LLC
—
Deed
related
$200,000 · Mary Harvey
Sep 15, 2023
—
240 Shrewsbury Street LLC
—
Deed
related
$220,000 · Hartford Turnpike LLC
May 26, 2023
—
Hartford Turnpike LLC
—
Deed
related
$400,000 · 240 Shrewsbury St LLC
Dec 15, 2020
—
Hartford Tpke LLC
—
Deed
related
$100,000 · Bay State Savings Bank
May 31, 2018
—
Hartford Turnpike LLC
—
Deed
related
$550,000 · Bay State Bank
Jan 19, 2018
—
Hartford Turnpike LLC
—
Deed
related
$150,000 · Bay State Bank
Oct 27, 2011
$1,027,500
Hartford Turnpike LLC
Neon RT
Deed
$822,000 · Bay State Savings 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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