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Property profile & analytics
OFF-MARKET
Estimated value
$7,640,000
Retail space
920 Highland Ave Needham, MA 02494
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US38-1011942
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Total area
43,838 SF
Lot
1.81 ac (78,844 SF)
Zoning code
AS
APN
NEED M:063.0 B:0038 L:0000.0
UPID
US38-1011942
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.64M
Owner & transaction history
Highland Montrose LLC · 21 yrs held
Highland Montrose LLC
since 2005
3 recorded transactions
Zoning & alternative use
AS · Needham, 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 Needham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Needham 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
APARTMENT HOUSE (5+ UNITS)
$12,595,000
Change: -2% · Conversion: Difficult
COMMERCIAL (GENERAL)
$11,220,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$7.64M
Range $6.88M – $8.40M · ±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
$174 / 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
$185,231
Tax year 2024
Assessed value
$7,538,900
Assessed 2024
Previous assessed
$7,011,400
+7.5% YoY
Effective rate
2.46%
On assessed value
Assessed land
$1,336,000
Assessed improvement
$6,202,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Heating
NONE
Cooling
YES
Buildings
4
Total area
43,838 SF
Lot
1.81 ac (78,844 SF)
Zoning code
AS
APN
NEED M:063.0 B:0038 L:0000.0
UPID
US38-1011942
Jurisdiction
NEEDHAM
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
AS · Needham, MA
Zoning AS · permitted uses
AS · Needham, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Needham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$12.6M
COMMERCIAL (GENERAL)
Est. value
$11.2M
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
Heating
NONE
Cooling
Yes
Buildings
4
Lot
1.81 ac
Current owner
From public records · entity-resolved
Highland Montrose LLC
Entity
Mailing address
159 CAMBRIDGE ST, ALLSTON, MA 02134-1848
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2005
$11,000,000
Highland Montrose LLC
Mellen Highland Assoc LLC
Grant Deed
related
$9,400,000 · Citigroup Global Markets
Feb 16, 1996
$414,000
Mellen Highlands Assoc
Calverts INC
Grant Deed
$1,500,000 · Bay Bank
Mar 15, 1994
—
Calverts INC
—
Deed Of Trust
related
$1,800,000 · Bay Bank
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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