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Property profile & analytics
OFF-MARKET
Estimated value
$13,495,000
Hotels
99 Erdman Way, Leominster, MA 01453-1805
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US38-1386395
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1988
Construction
STEEL FRAME
Total area
135,070 SF
Lot
6 ac (261,360 SF)
APN
LEOM M:0225 B:0001 L:0000
UPID
US38-1386395
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
-
DoubleTree by Hilton Hotel Leominster Hotel & Motel
-
Taste of North Central Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.64M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$13.50M
Owner & transaction history
99 Erdman Hotel LLC · 2 yrs held
99 Erdman Hotel LLC
since 2023
Last sale
$13.3M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$17.1M
+139.4%
Medical building
$16.6M
+132.5%
Restaurant
$14.6M
+104.0%
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 Leominster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Leominster 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
$11,700,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$16,940,000
6.5%
$15,635,000
7%
$14,520,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$17,130,000
Change: +139% · Conversion: Difficult
MEDICAL BUILDING
$16,635,000
Change: +133% · Conversion: Difficult
RESTAURANT
$14,595,000
Change: +104% · Conversion: Difficult
COMMERCIAL (GENERAL)
$13,035,000
Change: +82% · Conversion: Difficult
RETAIL STORES
$12,610,000
Change: +76% · Conversion: Difficult
AUTO REPAIR, GARAGE
$12,175,000
Change: +70% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$8,520,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$13.50M
Range $12.15M – $14.84M · ±10% · vs last sale $13.32M (Dec 22 2023)
Last sale anchor
$13.32M
Dec 22 2023
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
$100 / 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
$146,230
Tax year 2024
Assessed value
$10,077,900
Assessed 2024
Previous assessed
$10,077,900
+0.0% YoY
Effective rate
1.45%
On assessed value
Assessed land
$3,151,100
Assessed improvement
$6,926,800
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
7
Units
187
Bathrooms
2
Total area
135,070 SF
Lot
6 ac (261,360 SF)
APN
LEOM M:0225 B:0001 L:0000
UPID
US38-1386395
Jurisdiction
LEOMINSTER
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$17.1M
MEDICAL BUILDING
Est. value
$16.6M
RESTAURANT
Est. value
$14.6M
COMMERCIAL (GENERAL)
Est. value
$13.0M
RETAIL STORES
Est. value
$12.6M
AUTO REPAIR, GARAGE
Est. value
$12.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.5M
OFFICE BUILDING
MEDICAL BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
7
Buildings
1
Units
187
Bathrooms
2
Lot
6 ac
Current owner
From public records · entity-resolved
99 Erdman Hotel LLC
Entity
Mailing address
99 ERDMAN WAY, LEOMINSTER, MA 01453-1805
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
Oct 10, 2025
—
99 Erdman Hotel LLC
—
Deed
related
$23,377,500 · Bar Harbor Bank & Trust Co
Dec 22, 2023
$13,321,966
99 Erdman Hotel LLC
Hotel Leo 99 LLC
Quit Claim Arm's Length For Ne States
—
Dec 1, 2016
$12,500,000
Hotel Leo 99 LLC
99 Erdman Way Holdings
Quit Claim Arm's Length For Ne States
$13,500,000 · Wells Fargo Bank NA
Aug 1, 2013
$5,100,000
99 Erdman Way Holdings
Driftwood Hospitality Mgm
Quit Claim Deed
—
Dec 13, 2000
$10,500,000
Pma I LP
Felcor Hospitality Co
Grant Deed
$10,500,000 · Worth Funding INC
Apr 21, 1998
$8,100,000
Bristol Hospitality Co
Trn RT
Grant Deed
$120,000,000 · Zuckerman Family Nomi
Feb 8, 1990
—
Trn RT
—
Deed Of Trust
related
$1,000,000 · Zmc Trust Et Al 2nd
Dec 27, 1989
—
Trn RT
—
Deed Of Trust
related
$765,088 · Zuckerman Family Nomi
Jan 12, 1989
—
Trn Realty Tr
—
Deed Of Trust
related
$500,000 · First Service Bank Savings
Dec 19, 1988
—
Trn RT
—
Deed Of Trust
related
$1,278,314 · First Service Bank Savings
Nov 3, 1988
—
Trn Realty Tr
—
Deed Of Trust
related
$1,000,000 · First Service Bank Savings
Oct 14, 1988
—
Trn Realty Tr
—
Deed Of Trust
related
$4,479,258 · First Service Bank Savings
Apr 13, 1988
$300,000
Trn Realty Trust
Eljay Dev Co
Grant Deed
$6,700,000 · First Service Bank Savings
May 1, 1987
$1,500,000
T R N Rlty Tr By Tr
Eljay Devel Corp
Grant Deed
$1,500,000 · First Service Bank Savings
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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