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    Property profile & analytics

    61 Pearl St Worcester, MA 01608

    • Parking lots & garages
    • 0.68 lot acres
    For Sale
    View listing
    $3,345,000
    Value Estimation
    Location Intelligence
    Property ID
    US38-1289681
    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.

    Current Use by Public Records

    • Parking lots & garages

    Property Details for 61 Pearl St

    Lot size
    0.68 lot acres
    Zone code
    BG-6
    Property type
    Parking lots & garages
    APN
    WORC M:03 B:031 L:29+30
    APU
    WORCM03B031L2930

    Description

    Three strategically located commercial land parcels are available for sale in Worcester's Central Business District. These properties, totaling between 0.27 and 0.68 acres, offer significant development potential. The parcels are situated at 61 Pearl Street, 56 Pleasant Street, and 30 Chatham Street, and may be purchased individually or as a portfolio. 56 Pleasant Street is an unpaved development site, while 61 Pearl Street and 30 Chatham Street are currently paved and licensed parking lots. All three parcels are zoned BG-6, allowing for a variety of uses including office, food service, hotel, and multi-family dwellings by right. This presents a unique opportunity for investors and developers seeking to capitalize on the vibrant Worcester market. The location within an Opportunity Zone adds further investment appeal. The asking price for the entire portfolio is $3,345,000. Detailed site plans and zoning information are available upon request. This is a rare chance to acquire prime real estate in a rapidly growing urban core.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $335,000

    • CAP approach

      CAP return
      Estimation
      6%
      $270,000
      6.5%
      $275,000
      7%
      $250,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $240,000
      Geo Method
      $285,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $265,000
      Retail
      $235,000
      Mixed-Use
      $220,000
      Hospitality
      $270,000
      Educational
      $220,000
      Residential Income
      $280,000
      Energy
      $270,000
      Income-Based Land
      $285,000
      Food Service
      $240,000

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.804
    Latitude
    42.2639
    CBSA code
    49340
    CBSA name
    WORCESTER, MA-CT 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
    $14,891
    $441,300
    $54,400
    $495,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.52 Acres

      35 Portland St

      PARKING LOT • 0.52 Acres
      35 Portland St, Worcester, MA 01608
      View Details
    • Value Estimation
      $420,000
      10,591 SF

      129 Gold St

      PARKING LOT • 10,591 SF
      129 Gold St, Worcester, MA 01608
      View Details
    • Value Estimation
      $260,000
      0.44 Acres

      65 Lamartine St

      PARKING LOT • 0.44 Acres
      65 Lamartine St, Worcester, MA 01608
      View Details
    • Value Estimation by Request
      0.73 Acres

      30 Myrtle St

      PARKING LOT • 0.73 Acres
      30 Myrtle St, Worcester, MA 01608
      View Details
    • Value Estimation by Request
      541,728 SF

      201 Commercial St

      PARKING GARAGE, PARKING STRUCTURE • 541,728 SF
      201 Commercial St, Worcester, MA 01608
      View Details
    • Value Estimation
      $330,000
      0.30 Acres

      518 Main St

      PARKING LOT • 0.30 Acres
      518 Main St, Worcester, MA 01608
      View Details

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    61 Pearl St
    Worcester, MA 01608
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    Realmo Value Estimation

    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.

    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.

    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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