New search
Property profile & analytics
FOR LEASE
Office buildings
8 Bourbon St, Peabody, MA 01960
Entity Owned
4-yr Hold
Free & Clear
Property ID
US38-2217511
For Lease
1 / 15
$2,850/Mo
8 Bourbon St, Peabody, MA 01960
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2000
Total area
11,968 SF
Lot
1.14 ac (49,602 SF)
Zoning code
BR
APN
PEAB M:0027 B:0006-A
UPID
US38-2217511
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
-
Sunshine Laundry (Bike/Boat/Book/etc) Store
-
Barber House Hair Salon
-
Qodesh Family Church (QFC) Boston Church
-
Plastix Salon Hair Salon Nail Salon
-
MD Esthetics By The Zen Spa Spa & Massage Center Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.45M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.71M
Blend (final)
Blend
$2.44M
Owner & transaction history
Bourbon Development LLC · 4 yrs held
Bourbon Development LLC
since 2022
Last sale
$2.2M
5 recorded transactions
Zoning & alternative use
BR · Peabody, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.8M
+73.0%
Auto repair, garage
$2.9M
+29.6%
Retail stores
$2.7M
+20.3%
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 Peabody submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Peabody 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
$2,460,000
ML approach
$2,450,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,210,000
Current use
APARTMENT HOUSE (5+ UNITS)
$3,825,000
Change: +73% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,865,000
Change: +30% · Conversion: Difficult
RETAIL STORES
$2,660,000
Change: +20% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,585,000
Change: +17% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,960,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$2.44M
Range $2.20M – $2.68M · ±10% · vs last sale $2.20M (Mar 2 2022)
Last sale anchor
$2.20M
Mar 2 2022
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
$204 / 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
$38,183
Tax year 2024
Assessed value
$2,027,800
Assessed 2024
Previous assessed
$2,027,800
+0.0% YoY
Effective rate
1.88%
On assessed value
Assessed land
$777,700
Assessed improvement
$1,250,100
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2000
Heating
FORCED AIR
Buildings
1
Stories
2
Total area
11,968 SF
Lot
1.14 ac (49,602 SF)
Zoning code
BR
APN
PEAB M:0027 B:0006-A
UPID
US38-2217511
Jurisdiction
PEABODY
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
BR · Peabody, MA
Zoning BR · permitted uses
BR · Peabody, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Peabody. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.8M
AUTO REPAIR, GARAGE
Est. value
$2.9M
RETAIL STORES
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$2.6M
INDUSTRIAL (GENERAL)
Est. value
$2.0M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
INDUSTRIAL (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
2000
Heating
FORCED AIR
Stories
2
Buildings
1
Lot
1.14 ac
Current owner
From public records · entity-resolved
Bourbon Development LLC
Entity
Free & Clear · 4 yrs held
Mailing address
10 WATERSIDE LN, GLOUCESTER, MA 01930-4010
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 2, 2022
$2,200,000
Bourbon Development LLC
8 Bourbon Street LLC
Quit Claim Arm's Length For Ne States
—
May 25, 2021
—
8 Bourbon Street LLC
Jsd RT
Quit Claim Deed
related
$1,507,675 · Nicholas A Cameles
May 25, 2021
$1,100,000
8 Bourbon Street LLC
Jsd RT
Quit Claim Arm's Length For Ne States
$1,507,675 · Nicholas A Cameles
Oct 30, 2019
$1,100,000
Jsd Trust
Double Bourbon LLC
Quit Claim Deed
$810,000 · Double Bourbon LLC
Oct 30, 2019
—
Jsd RT Trust
Double Bourbon LLC
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
