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Property profile & analytics
OFF-MARKET
Estimated value
$3,225,000
Super regional malls
104 Belmont St Worcester, MA 01605-2937
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-0537409
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,493 SF
Lot
0.41 ac (18,056 SF)
Zoning code
BL-1
APN
WORC M:01 B:025 L:37+39
UPID
US38-0537409
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
-
Dunkin' Bakery Specialty Food Shop
-
Belmont Convenience Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.19M
CAP Approach
CAP
$3.11M
Comparable Approach
Comparable
$2.10M
Blend (final)
Blend
$3.23M
Owner & transaction history
104 Belmont St LLC · 4 yrs held
104 Belmont St LLC
since 2021
Last sale
$3.9M
7 recorded transactions
Zoning & alternative use
BL-1 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.6M
+64.8%
Auto repair, garage
$2.1M
+35.4%
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
$3,165,000
ML approach
$3,185,000
CAP Approach
CAP Return
Estimation
6%
$3,365,000
6.5%
$3,105,000
7%
$2,885,000
Alternative Use
Use
Estimation
RESTAURANT
$2,600,000
Change: +65% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,135,000
Change: +35% · Conversion: Difficult
Blend value · Realmo final
$3.23M
Range $2.90M – $3.55M · ±10% · vs last sale $3.90M (Aug 11 2021)
Last sale anchor
$3.90M
Aug 11 2021
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
$258 / 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
$51,137
Tax year 2024
Assessed value
$1,702,300
Assessed 2024
Previous assessed
$1,662,700
+2.4% YoY
Effective rate
3.00%
On assessed value
Assessed land
$584,200
Assessed improvement
$1,118,100
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
1
Stories
2
Units
5
Total area
12,493 SF
Lot
0.41 ac (18,056 SF)
Zoning code
BL-1
APN
WORC M:01 B:025 L:37+39
UPID
US38-0537409
Jurisdiction
WORCESTER
Zoning & alternative use
BL-1 · Worcester, MA
Zoning BL-1 · permitted uses
BL-1 · 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
RESTAURANT
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$2.1M
RESTAURANT
AUTO REPAIR, GARAGE
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
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
2
Buildings
1
Units
5
Lot
0.41 ac
Current owner
From public records · entity-resolved
104 Belmont St LLC
Entity
Mailing address
11 DOWNING DR, NORTON, MA 02766-2558
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
17 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 11, 2021
$3,900,000
104 Belmont St LLC
Maja Properties LLC
Quit Claim Arm's Length For Ne States
$2,900,000 · Rockland Trust Co
Mar 12, 2021
—
Maja Prop LLC
—
Deed
related
$10,400,000 · Country Bank
Sep 27, 2012
—
Maja Props LLC
—
Deed Of Trust
related
$30,000 · N Middlesex Savings Bank
Jun 2, 2010
$1
Maja Prop LLC
Surabian Realty Co INC
Grant Deed
—
Jun 2, 2010
—
Maja Prop LLC
—
Deed Of Trust
related
$1,900,000 · N Middlesex Savings Bank
Oct 23, 2008
—
Surabian Realty Co INC
—
Deed Of Trust
related
$2,007,000 · Avidia Bank
Jun 13, 2008
—
Surabian Realty Co INC
—
Deed Of Trust
related
$10,000,000 · Avidia Bank
Jul 31, 2007
—
Surabian Realty Co INC
—
Deed Of Trust
related
$1,390,000 · Hudson Savings Bank
Jun 19, 2006
—
Surabian Realty Co INC
—
Deed Of Trust
related
$5,500,000 · Hudson Savings Bank
Jan 9, 2004
—
Surabian Rlty Co INC
—
Deed Of Trust
related
$3,500,000 · Hudson Savings Bank
Feb 26, 2003
—
Surabian Realty Co INC
—
Deed Of Trust
related
$1,200,000 · Clinton Savings Bank
Mar 28, 2002
—
Surabian Rlty Co INC
—
Deed Of Trust
related
$300,000 · Rapid Funding LLC
Jul 2, 1998
—
Surabian Rlty Co INC
—
Deed Of Trust
related
$864,000 · Country Bank
Jan 24, 1996
—
Surabian Realty Co
—
Deed Of Trust
related
$60,000 · Bankboston Development Co LLC
Aug 18, 1993
—
Surabian Realty Co INC
—
Deed Of Trust
related
$875,000 · Bankboston Development Co LLC
May 30, 1989
—
Surabian Rlty
—
Deed Of Trust
related
$50,000 · Shawmut Worc Cnty Bk
May 1, 1989
—
Surabian Rlty Co
—
Deed Of Trust
related
$677,000 · Shawmut Worc Cnty Bk
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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