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Property profile & analytics
FOR LEASE
Office buildings
10 East Worcester St Worcester, MA 01604
Entity Owned
1-yr Hold
Free & Clear
Property ID
US38-1711858
For Lease
1 / 7
Contact for pricing
10 East Worcester St, Worcester, MA 01604
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1898
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
58,446 SF
Lot
1.24 ac (54,014 SF)
Zoning code
MG-2
APN
WORC M:04 B:001 L:13-15
UPID
US38-1711858
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
-
Rainbow International of Southeastern Massachusetts Carpet Cleaning Service Building Restoration Service
-
Cardinal Construction Inc Construction Company
-
Cardinal Environmental LLC Corporate Office
-
GoVenture Capital Group Venture Capital Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.17M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.24M
Blend (final)
Blend
$6.62M
Owner & transaction history
89 Shrewsbury Street LLC · 1 yrs held
89 Shrewsbury Street LLC
since 2025
Last sale
$7.3M
7 recorded transactions
Zoning & alternative use
MG-2 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$10.0M
+37.1%
Retail stores
$8.5M
+17.2%
Neighborhood: shopping center
$7.4M
+1.2%
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 Worcester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Worcester 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
$6,180,000
ML approach
$7,170,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,290,000
Current use
AUTO REPAIR, GARAGE
$9,990,000
Change: +37% · Conversion: Difficult
RETAIL STORES
$8,540,000
Change: +17% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$7,375,000
Change: +1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$7,010,000
Change: -4% · Conversion: Easy
COMMERCIAL (GENERAL)
$6,475,000
Change: -11% · Conversion: Easy
WAREHOUSE, STORAGE
$5,865,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$6.62M
Range $5.95M – $7.28M · ±10% · vs last sale $7.25M (May 20 2025)
Last sale anchor
$7.25M
May 20 2025
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
$113 / 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
$148,055
Tax year 2024
Assessed value
$4,928,600
Assessed 2024
Previous assessed
$4,776,900
+3.2% YoY
Effective rate
3.00%
On assessed value
Assessed land
$1,328,000
Assessed improvement
$3,600,600
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1898
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Buildings
1
Stories
3
Total area
58,446 SF
Lot
1.24 ac (54,014 SF)
Zoning code
MG-2
APN
WORC M:04 B:001 L:13-15
UPID
US38-1711858
Jurisdiction
WORCESTER
Zoning & alternative use
MG-2 · Worcester, MAZoning MG-2 · permitted uses
MG-2 · Worcester, MA
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 Current
Est. value
$7.3M
AUTO REPAIR, GARAGE
Est. value
$10.0M
RETAIL STORES
Est. value
$8.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.0M
COMMERCIAL (GENERAL)
Est. value
$6.5M
WAREHOUSE, STORAGE
Est. value
$5.9M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1898
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Stories
3
Buildings
1
Lot
1.24 ac
Current owner
From public records · entity-resolved
89 Shrewsbury Street LLC
Entity
Free & Clear · 1 yrs held
Mailing address
10 E WORCESTER ST, WORCESTER, MA 01604-3612
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 20, 2025
$7,250,000
89 Shrewsbury Street LLC
Condron Worcester Rlty Ll
Deed
—
Dec 11, 2020
—
Condron Worcester Rlty
—
Deed
related
$600,000 · Mass Dev Fin'l Agcy
Jul 25, 2018
—
Condron Worcester Real
—
Deed
related
$4,050,000 · Peoples United Bank
Jul 11, 2013
—
Condron Worcester Realty
—
Deed Of Trust
related
$4,519,259 · Peoples Bank
Jun 27, 2012
—
Condron Worcester Realty
—
Deed Of Trust
related
$2,278,700 · Peoples Bank
Nov 5, 2007
—
Condron Worc Realty LLC
—
Deed Of Trust
related
$5,500,000 · Flagship Bank & Trust
Dec 31, 2001
$690,000
Worc Realty Lc Condron
Kennedy Holding Co INC
Grant Deed
—
Dec 31, 2001
—
Worc Realtyllc Condron
—
Deed Of Trust
related
$745,600 · Flagship Bank & Trust
Mar 3, 1993
—
Kennedy Holding Co
—
Deed Of Trust
related
$748,000 · First Nh Bank Granite
—
—
Condron Worcester Realty
—
Deed Of Trust
related
$400,000 · Community Dev Commission
—
—
Condron Worcester Rlty
—
Deed Of Trust
related
$600,000 · Mass Dev Fin'l Agcy
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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