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    Property profile & analytics

    1 Wallace Rd Fitchburg, MA 01420-2935

    • Retail space
    • 4,000 SF
    • 0.97 lot acres
    OFF-MARKET
    Value Estimation
    $300,000
    Last Sale
    Aug 15, 2024
    $212,000
    Location Intelligence
    Property ID
    US38-0157836
    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

    • Retail space

    Property Details for 1 Wallace Rd

    Year built
    1950
    Construction
    FRAME
    Lot size
    0.97 lot acres
    Property size
    4,000 SF
    Zone code
    C
    Property type
    Retail space
    APN
    FITC M:0039 B:0050 L:0
    APU
    FITCM0039B0050L0

    Description

    This exceptional retail property, the INDEPENDENCE BUILDING, presents a compelling investment opportunity in Fitchburg, Massachusetts. Located at 1 Wallace Rd, 01420, this 4,000 square foot, single-story building sits on a one-acre lot and offers significant potential for a variety of uses. Currently zoned C, the property boasts 15 parking spaces and is conveniently situated along the river and a bicycle/walkway, ensuring high visibility and accessibility. Built in 1950 and renovated in 1975, the building features a mostly open floor plan with a rear garage door, making it ideal for diverse commercial ventures. Potential uses include, but are not limited to, convenience stores, restaurants, storefronts, laundromats, light manufacturing, or contractor spaces. All utilities (water, sewer, electric, and gas) are readily available on-site. The asking price is $299,000, translating to $74.75 per square foot. The property is available for occupancy on April 18, 2024. This is a single-unit, Class B building owned by a corporation. Prospective buyers are responsible for conducting due diligence to verify property dimensions, easements, rights-of-way, and zoning regulations.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $310,000

    • CAP approach

      CAP return
      Estimation
      6%
      $265,000
      6.5%
      $280,000
      7%
      $315,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $315,000
      Geo Method
      $300,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $265,000
      Retail
      $310,000
      Mixed-Use
      $260,000
      Hospitality
      $305,000
      Educational
      $275,000
      Residential Income
      $295,000
      Energy
      $260,000
      Income-Based Land
      $315,000
      Food Service
      $240,000

    Location Insight

    • Map
    • Local Demand
    City
    Fitchburg
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.819
    Latitude
    42.584
    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
    $4,073
    $142,500
    $132,500
    $275,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      9,200 SF

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    • Value Estimation by Request
      13,807 SF

      161 Main St

      RETAIL STORES (PERSONAL SERVICES) • 13,807 SF
      161 Main St, Fitchburg, MA 01420-4329
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    • Value Estimation
      $180,000
      2,496 SF

      49 John Fitch Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,496 SF
      49 John Fitch Hwy, Fitchburg, MA 01420-5903
      View Details
    • Value Estimation
      $265,000
      2,040 SF

      909 Ss St

      RETAIL STORES (PERSONAL SERVICES) • 2,040 SF
      909 Ss St, Fitchburg, MA 01420-6385
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    • Value Estimation
      $230,000
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      123 Airport Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,350 SF
      123 Airport Rd, Fitchburg, MA 01420-8142
      View Details
    • Value Estimation
      $260,000
      3,100 SF

      47 Bemis Rd, Unit 53

      RETAIL STORES (PERSONAL SERVICES) • 3,100 SF
      47 Bemis Rd, Fitchburg, MA 01420-6349
      View Details

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    Similar Nearby for Lease

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    1 Wallace Rd
    Fitchburg, MA 01420-2935
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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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