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Property profile & analytics
OFF-MARKET
Estimated value
$19,650,000
Office buildings
120 Frnt St Worcester, MA 01608-1413
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US38-1038588
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1971
Construction
STEEL FRAME
Total area
174,365 SF
Lot
0.82 ac (35,897 SF)
Zoning code
BG-6
APN
WORC M:02 B:23B L:0000O
UPID
US38-1038588
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$19.27M
Blend (final)
Blend
$19.65M
Owner & transaction history
120 Mercantile Center · 7 yrs held
120 Mercantile Center
since 2018
5 recorded transactions
Zoning & alternative use
BG-6 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$29.8M
+37.1%
Retail stores
$25.5M
+17.2%
Neighborhood: shopping center
$22.0M
+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
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
OFFICE BUILDING
$21,740,000
Current use
AUTO REPAIR, GARAGE
$29,800,000
Change: +37% · Conversion: Difficult
RETAIL STORES
$25,470,000
Change: +17% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$22,005,000
Change: +1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$20,920,000
Change: -4% · Conversion: Easy
COMMERCIAL (GENERAL)
$19,180,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$17,495,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$19.65M
Range $17.69M – $21.62M · ±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
$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
$435,610
Tax year 2024
Assessed value
$14,501,000
Assessed 2024
Previous assessed
$14,361,700
+1.0% YoY
Effective rate
3.00%
On assessed value
Assessed land
$2,725,000
Assessed improvement
$11,776,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1971
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
9
Total area
174,365 SF
Lot
0.82 ac (35,897 SF)
Zoning code
BG-6
APN
WORC M:02 B:23B L:0000O
UPID
US38-1038588
Jurisdiction
WORCESTER
Zoning & alternative use
BG-6 · Worcester, MA
Zoning BG-6 · permitted uses
BG-6 · 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
OFFICE BUILDING Current
Est. value
$21.7M
AUTO REPAIR, GARAGE
Est. value
$29.8M
RETAIL STORES
Est. value
$25.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$22.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$20.9M
COMMERCIAL (GENERAL)
Est. value
$19.2M
WAREHOUSE, STORAGE
Est. value
$17.5M
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
1971
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
9
Buildings
1
Lot
0.82 ac
Current owner
From public records · entity-resolved
120 Mercantile Center
Individual
Mailing address
36 WASHINGTON ST STE #390, WELLESLEY HILLS, MA 02481-1932
Ownership since
2018
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
Nov 16, 2018
$14,850,000
120 Mercantile Center
120 Front St Owner Ass
Quit Claim Arm's Length For Ne States
$15,300,000 · Cornerstone Bank
Oct 15, 2015
$8,000,000
120 Front St Owner Ass
Worcester Renaissance
Quit Claim Arm's Length For Ne States
$8,000,000 · Fidelity Cooperative Bank
Feb 1, 1993
$2,710,000
Worcester Center RT
May Department Stores
Grant Deed
—
Aug 5, 1992
$150,000
Worcester Center RT
B F C Real Est Co
Grant Deed
—
Jan 27, 1988
$3,433,393
B F C Real Estate Co
Allied Stores Genrl
Grant Deed
—
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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