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Property profile & analytics
OFF-MARKET
Estimated value
$1,375,000
Showrooms
7 Franklin St, Salem, MA 01970-2550
Individually Owned
26-yr Hold
~
Est. High Equity
Property ID
US38-0614504
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1996
Construction
STEEL FRAME
Total area
8,774 SF
Lot
0.39 ac (17,097 SF)
Zoning code
B1
APN
SALE M:26 L:0374
UPID
US38-0614504
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
-
ON2AUDIO Security Service
-
Intoxalock Ignition Interlock Building Supply General Contractor
-
Ken Rothwell's Custom Catering Take-out & Catering Catering Service
-
Brenner Facility Services Commercial Cleaning Service
-
Edilab Studio Marketing & Advertising (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.51M
Blend (final)
Blend
$1.38M
Owner & transaction history
Ann Elphick · 26 yrs held
Ann Elphick
since 2000
7 recorded transactions
Zoning & alternative use
B1 · Salem, 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 Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem 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
AUTO REPAIR, GARAGE
$2,100,000
Change: -13% · Conversion: Difficult
RETAIL STORES
$1,950,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$1.38M
Range $1.24M – $1.51M · ±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
$157 / 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
$22,558
Tax year 2024
Assessed value
$952,200
Assessed 2024
Previous assessed
$952,200
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed land
$538,300
Assessed improvement
$413,900
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1996
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
6
Total area
8,774 SF
Lot
0.39 ac (17,097 SF)
Zoning code
B1
APN
SALE M:26 L:0374
UPID
US38-0614504
Jurisdiction
SALEM
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
B1 · Salem, MA
Zoning B1 · permitted uses
B1 · Salem, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$2.1M
RETAIL STORES
Est. value
$2.0M
AUTO REPAIR, GARAGE
RETAIL STORES
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
1996
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
6
Lot
0.39 ac
Current owner
From public records · entity-resolved
Ann Elphick
Individual
Mailing address
16 BROADWAY, BEVERLY, MA 01915-4457
Ownership since
2000
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2026
—
7 Franklin Street LLC
—
Deed
related
$675,000 · Northeast Community Bank
Jan 17, 2012
—
7 Franklin Street LLC
—
Deed Of Trust
related
$600,000 · Northeast Community Cu
Aug 20, 2009
—
Ann B Elphick
—
Deed Of Trust
related
$455,000 · North Shore Bank
Jul 5, 2007
—
Ann B Elphick
—
Deed Of Trust
related
$50,000 · North Shore Bank
Oct 19, 2005
—
Ann B Elphick
—
Deed Of Trust
related
$400,000 · North Shore Bank
Mar 18, 2003
—
Ann B Elphick
—
Deed Of Trust
related
$310,000 · Heritage Cp Bank
Mar 1, 2000
$825,000
Ann Elphick
Contact Engineering
Grant Deed
$218,000 · Gloucester Bk & Tr Co
Feb 17, 1998
—
Contract Engineering
—
Deed Of Trust
related
$355,000 · Gloucester Bank & Trust Co
Dec 15, 1997
—
Contract Engineering
—
Deed Of Trust
related
$50,000 · Gloucester Bank & Trust Co
Oct 21, 1994
$120,000
Contract Engineering
National Grand Bank
Grant Deed
$115,000 · National Grand Bank Marblhd
Oct 2, 1991
$221,000
National Grand Bank
Jefferson Bronze Co
Grant Deed
related
—
May 23, 1988
—
Jefferson Bronze Co
—
Deed Of Trust
related
$300,000 · National Grand Bank Marblhd
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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