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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Investment properties
883 Salem St, Groveland, MA 01834-1512
Individually Owned
4-yr Hold
Property ID
US38-0665038
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1920
Construction
FRAME
Total area
1,312 SF
Lot
0.56 ac (24,546 SF)
Zoning code
C
APN
GROV M:48 B:006 L:0
UPID
US38-0665038
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$590k
CAP Approach
CAP
$410k
Comparable Approach
Comparable
$414k
Blend (final)
Blend
$535k
Owner & transaction history
Jessica Schmidt · 4 yrs held
Jessica Schmidt
since 2022
Last sale
$624,950
7 recorded transactions
Zoning & alternative use
C · Groveland, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$335,000
+29.0%
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 Groveland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Groveland 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
$540,000
ML approach
$590,000
CAP Approach
CAP Return
Estimation
6%
$445,000
6.5%
$410,000
7%
$380,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$335,000
Change: +29% · Conversion: Easy
Blend value · Realmo final
$535k
Range $482k – $589k · ±10% · vs last sale $625k (Apr 8 2022)
Last sale anchor
$625k
Apr 8 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
$408 / 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
$7,178
Tax year 2024
Assessed value
$530,100
Assessed 2024
Previous assessed
$519,600
+2.0% YoY
Effective rate
1.35%
On assessed value
Assessed land
$179,800
Assessed improvement
$350,300
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1920
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Rooms
6
Bathrooms
1
Total area
1,312 SF
Lot
0.56 ac (24,546 SF)
Zoning code
C
APN
GROV M:48 B:006 L:0
UPID
US38-0665038
Jurisdiction
GROVELAND
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
C · Groveland, MA
Zoning C · permitted uses
C · Groveland, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Groveland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$335,000
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
1920
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Rooms
6
Bathrooms
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
Jessica Schmidt
Individual
Mailing address
883 SALEM ST, GROVELAND, MA 01834-1512
Mailing matches property
Yes
Owner-occupied
Yes
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
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 8, 2022
$624,950
Jessica Schmidt
D&patricia Nihan Ret
Quit Claim Arm's Length For Ne States
$558,000 · Mortgage Network INC
Sep 17, 2019
—
Nihan,daniel & Patricia Trust
Nihan,daniel P & Patricia J
Quit Claim Deed
related
—
Dec 13, 2012
—
Daniel P Nihan
—
Deed Of Trust
related
$202,000 · Sierra Pacific Mortgage
May 19, 2009
—
Daniel P Nihan
—
Deed Of Trust
related
$175,000 · Commonwealth Mortgage
Nov 13, 2007
—
Daniel P Nihan
—
Deed Of Trust
related
$173,000 · Inst Savings Newburyport
Apr 3, 2006
—
Daniel P Nihan
—
Deed Of Trust
related
$180,000 · East-west Mortgage Corp
Sep 1, 2004
—
Daniel P Nihan
—
Deed Of Trust
related
$70,000 · Irwin Home Equity Corp
Jun 23, 2003
—
Daniel P Nihan
—
Deed Of Trust
related
$113,000 · Chittenden Trust Co
Jan 18, 2002
—
Daniel P Nihan
—
Deed Of Trust
related
$117,800 · Chittenden Trust Co
Sep 25, 1998
$145,000
Daniel P Nihan
Lyons,paul L
Grant Deed
$116,000 · Olde Towne Mortgage Co INC
Aug 21, 1998
—
Paul L Lyons
—
Deed Of Trust
related
$30,000 · Pentucket Five Cents
Aug 8, 1997
—
Paul L Lyons
—
Deed Of Trust
related
$15,000 · Pentucket Five Cents
Nov 15, 1996
—
Paul L Lyons
—
Deed Of Trust
related
$10,000 · Pentucket Five Cents
Feb 22, 1996
—
Paul L Lyons
—
Deed Of Trust
related
$5,000 · Pentucket Five Cents
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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