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    979 Main St Wakefield, MA 01880-3990
    Property profile & analytics

    979 Main St Wakefield, MA 01880-3990

    View on Map
    • Super regional malls
    • 22,944 SF
    • 0.95 lot acres
    Off-Market
    Last Sale Apr 30, 2021
    Property ID
    US38-1264318
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $2,930,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Tequila's Mexican Cantina / Restaurant
    • Lisa's Family Pizzeria Wakefield / Restaurant
    • Halligan Chiropractic / Alternative Medicine Practice
    • Jill A. Halligan, DC / Alternative Medicine Practice
    • Revere Tanning Salon / Tanning Salon

    Property Details for 979 Main St

    Year built
    1971
    Construction
    STEEL FRAME
    Lot size
    0.95 lot acres
    Property size
    22,944 SF
    Zone code
    B
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    WAKE M:000024 B:0257 P:00023A
    APU
    WAKEM000024B0257P00023A

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,012,000
      Market price range: $1.60M - $10.5M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wakefield
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.066
    Latitude
    42.4814
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $51,095
    $607,300
    $1,747,300
    $2,354,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,455,000
      10,140 SF

      383 Lowell St, Unit 395

      REGIONAL SHOPPING CENTER, MALL • 10,140 SF
      383 Lowell St, Wakefield, MA 01880-1962
      View Details
    • Value Estimation
      $2,410,000
      13,436 SF

      21 Broadway St, Unit 29

      REGIONAL SHOPPING CENTER, MALL • 13,436 SF
      21 Broadway St, Wakefield, MA 01880-3210
      View Details
    • Value Estimation
      $925,000
      5,459 SF

      403 Lowell St, Unit 413

      REGIONAL SHOPPING CENTER, MALL • 5,459 SF
      403 Lowell St, Wakefield, MA 01880-1962
      View Details
    • Value Estimation
      $2,160,000
      15,608 SF

      6 Greenwood St

      REGIONAL SHOPPING CENTER, MALL • 15,608 SF
      6 Greenwood St, Wakefield, MA 01880-4083
      View Details
    • Value Estimation
      $1,725,000
      12,468 SF

      1117 Main St

      REGIONAL SHOPPING CENTER, MALL • 12,468 SF
      1117 Main St, Wakefield, MA 01880-4101
      View Details
    • Value Estimation by Request
      3,667 SF

      200-400 Quannapowitt Pkwy

      Restaurants • 3,667 SF
      200-400 Quannapowitt Pkwy, Wakefield, MA 01880
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Mixed-use property in Wakefield center with value-add potential.
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      Wakefield Office Condo For Sale

      Rare office condo in pristine condition, ideal Wakefield location.
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    • $989,000
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      Two-Family Home Near Lake Quannapowitt

      Two-unit property with yard, near Lake Quannapowitt.
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    • $1,695,000

      Renovated Office Building in Wakefield

      Turn-key office building with recent renovations and expansion.
      45 Albion St, Wakefield, MA 01880
      View Details
    • $849,000
      1,942 SF

      Two-Family Home in Wakefield, MA

      Two-family home near transportation, shopping, and Lake Quannapowitt.
      293 Albion St, Wakefield, MA 01880
      View Details

    Similar Nearby for Lease

    • $1,800 /Mo
      950 SF

      Downtown Wakefield Office/Retail Space

      950 sqft office/retail space near Wakefield Station.
      209 Albion St, Wakefield, MA 01880
      View Details
    • Contact for pricing
      3,667 SF

      Prime Wakefield Retail Space

      Restaurant/Commercial Space Available
      200-400 Quannapowitt Pkwy, Wakefield, MA 01880
      View Details
    • $272 SF/Yr

      Downtown Wakefield Retail/Office Space

      950 sqft retail or office space near Wakefield Station.
      209 Albion St, Wakefield, MA 01880
      View Details
    • Contact for pricing
      950 SF

      Downtown Wakefield Office/Retail Space

      950 sqft office or retail space near Wakefield Station.
      209 Albion St, Wakefield, MA 01880
      View Details
    • Contact for pricing
      6,000 SF

      Prime Wakefield Retail Space

      6,000 SF Retail Space Available
      500 Main St, Wakefield, MA 01880
      View Details
    • $17 SF/Yr

      Renovated Industrial Unit with Loading

      Two-level industrial unit with loading dock, renovated in 2025.
      1 Melvin St, Wakefield, MA 01880
      View Details
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    Wakefield, MA 01880-3990
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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