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Property profile & analytics
OFF-MARKET
Estimated value
$1,335,000
Retail space
1023 Southbridge St Worcester, MA 01610-3698
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US38-1737308
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2020
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,325 SF
Lot
1.24 ac (53,927 SF)
Zoning code
MG-2
APN
WORC M:26 B:020 L:0005A
UPID
US38-1737308
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
-
MY SALON Suite Hair Salon Nail Salon
-
Hanamore Hair Salon Nail Salon
-
Sassylady Queen Hair Salon
-
Sunnyside Cannabis Dispensary - Worcester (Bike/Boat/Book/etc) Store
-
Better Body Sculpting Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.83M
Blend (final)
Blend
$1.34M
Owner & transaction history
Wpb Worcester LLC · 1 yrs held
Wpb Worcester LLC
since 2024
5 recorded transactions
Zoning & alternative use
MG-2 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.9M
+42.4%
Auto repair, garage
$1.6M
+17.0%
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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,360,000
Current use
RESTAURANT
$1,940,000
Change: +42% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,595,000
Change: +17% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,175,000
Change: -14% · Conversion: Moderate
OFFICE BUILDING
$1,165,000
Change: -15% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,120,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.34M
Range $1.20M – $1.47M · ±10%
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
$143 / 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
$36,189
Tax year 2024
Assessed value
$1,204,700
Assessed 2024
Previous assessed
$1,204,700
+0.0% YoY
Effective rate
3.00%
On assessed value
Assessed land
$487,700
Assessed improvement
$717,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2020
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
YES
Buildings
1
Stories
1
Total area
9,325 SF
Lot
1.24 ac (53,927 SF)
Zoning code
MG-2
APN
WORC M:26 B:020 L:0005A
UPID
US38-1737308
Jurisdiction
WORCESTER
Zoning & alternative use
MG-2 · Worcester, MA
Zoning 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
Worcester. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.4M
RESTAURANT
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
2020
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
1
Lot
1.24 ac
Current owner
From public records · entity-resolved
Wpb Worcester LLC
Entity
Free & Clear · 1 yrs held
Mailing address
6800 PARAGON PLSTE20, RICHMOND, VA 23230-1649
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 25, 2024
—
Wpb Worcester LLC
Wpb Holdings LLC
Quit Claim Deed
related
—
Aug 31, 2020
—
Wpb Hldg LLC
—
Deed
related
$2,500,000 · Wpb Worcester LLC
Dec 10, 2019
—
Cultivate Hldgs LLC
—
Grant Deed
related
$10,420,000 · Romspen Mtg
Oct 19, 2016
$160,000
Wpb Holdings LLC
Stone Hldg Co LLC
Foreclosure
related
—
—
—
Wpb Hldg LLC
—
Deed Of Trust
related
$2,500,000 · Wpb Worcester LLC
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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