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Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Retail space
1120 Grafton St Worcester, MA 01604-2030
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US38-1023616
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1998
Construction
FRAME
Total area
2,960 SF
Lot
2.15 ac (93,610 SF)
Zoning code
RL-7
APN
WORC M:34 B:025 L:00025
UPID
US38-1023616
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
-
Echobrook Nursery Garden Center
-
Saving People inc Association / Organization
-
Bhavna's Wellness Group Training Center Tutoring Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$550k
CAP Approach
CAP
$625k
Comparable Approach
Comparable
$602k
Blend (final)
Blend
$555k
Owner & transaction history
First Cottage St LLC · 5 yrs held
First Cottage St LLC
since 2021
Last sale
$517,000
7 recorded transactions
Zoning & alternative use
RL-7 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$505,000
+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
$640,000
ML approach
$550,000
CAP Approach
CAP Return
Estimation
6%
$680,000
6.5%
$625,000
7%
$580,000
Alternative Use
Use
Estimation
RETAIL STORES
$430,000
Current use
AUTO REPAIR, GARAGE
$505,000
Change: +17% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$375,000
Change: -14% · Conversion: Moderate
OFFICE BUILDING
$370,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$555k
Range $500k – $611k · ±10% · vs last sale $517k (Jun 7 2021)
Last sale anchor
$517k
Jun 7 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
$188 / 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
$15,891
Tax year 2024
Assessed value
$529,000
Assessed 2024
Previous assessed
$465,300
+13.7% YoY
Effective rate
3.00%
On assessed value
Assessed land
$309,400
Assessed improvement
$219,600
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1998
Construction
FRAME
Heating
SPACE
Buildings
1
Stories
3
Total area
2,960 SF
Lot
2.15 ac (93,610 SF)
Zoning code
RL-7
APN
WORC M:34 B:025 L:00025
UPID
US38-1023616
Jurisdiction
WORCESTER
Zoning & alternative use
RL-7 · Worcester, MA
Zoning RL-7 · permitted uses
RL-7 · 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
$430,000
AUTO REPAIR, GARAGE
Est. value
$505,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$375,000
OFFICE BUILDING
Est. value
$370,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1998
Construction
FRAME
Heating
SPACE
Stories
3
Buildings
1
Lot
2.15 ac
Current owner
From public records · entity-resolved
First Cottage St LLC
Entity
Mailing address
PO BOX 42, GROTON, MA 01450-0042
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2023
—
First Cottage Street LLC
—
Deed
related
$665,000 · Boston Trust Lending LLC
Jun 7, 2021
$517,000
First Cottage St LLC
Howard J Shear
Quit Claim Arm's Length For Ne States
$517,000 · Boston T Fin LLC
Oct 11, 2007
—
Francine T Shear
—
Deed Of Trust
related
$725,000 · Millbury National Bank
Nov 18, 2004
—
Francine T Shear
—
Deed Of Trust
related
$500,000 · Ups Capital Busines Cr
Feb 5, 2001
—
Howard J Shear
—
Deed Of Trust
related
$360,000 · Commerce Bank & Trust
Jun 3, 1999
—
Howard J Shear
—
Deed Of Trust
related
$70,000 · Clinton Savings Bank
Apr 2, 1998
—
Howard J Shear
—
Deed Of Trust
related
$225,000 · Clinton Savings Bank
—
—
Howard J Shear
—
Deed Of Trust
related
$15,000 · Bay St Svgs Bk
—
—
Howard J Shear
—
Deed Of Trust
related
$700,000 · Bay St Svgs 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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