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Property profile & analytics
FOR LEASE
Showrooms
120 Thomas St, Worcester, MA 01608
Individually Owned
4-yr Hold
Free & Clear
Property ID
US38-0419498
For Lease
1 / 3
$29 SF/Yr
120 Thomas St, Worcester, MA 01608
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Property summary
AI-generated overview
120 Thomas Street in Worcester, MA, presents a unique opportunity for businesses seeking high-quality office space. This three-story, 32,000-square-foot building, recently renovated in 2023, offers a blend of medical and executive office suites. The property boasts a modern design, featuring a new roof, skylights, lobby, elevator, hallways, and building facade. Multiple tenancy options are available, with spaces ranging from a minimum of 2,000 square feet to a maximum contiguous space of 10,000 square feet
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1970
Construction
CONCRETE
Total area
23,110 SF
Lot
1.37 ac (59,461 SF)
Zoning code
ML40
APN
WORC M:02 B:005 L:00004
UPID
US38-0419498
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
-
Faucher Direct Care Physician
-
Jessica Piper Physician
-
Gameday Men’s Health Worcester Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.51M
Blend (final)
Blend
$2.65M
Owner & transaction history
Thomas-summer St T · 4 yrs held
Thomas-summer St T
since 2022
Last sale
$2.7M
1 recorded transaction
Zoning & alternative use
ML40 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.0M
+55.4%
Retail stores
$3.4M
+32.8%
Neighborhood: shopping center
$2.9M
+14.8%
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
$2,170,000
ML approach
$2,245,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,540,000
Current use
AUTO REPAIR, GARAGE
$3,950,000
Change: +55% · Conversion: Difficult
RETAIL STORES
$3,375,000
Change: +33% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,915,000
Change: +15% · Conversion: Difficult
OFFICE BUILDING
$2,880,000
Change: +13% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,775,000
Change: +9% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,320,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$2.65M
Range $2.38M – $2.91M · ±10% · vs last sale $2.65M (Apr 15 2022)
Last sale anchor
$2.65M
Apr 15 2022
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
$114 / 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
$85,353
Tax year 2024
Assessed value
$2,841,300
Assessed 2024
Previous assessed
$2,939,300
-3.3% YoY
Effective rate
3.00%
On assessed value
Assessed land
$913,400
Assessed improvement
$1,927,900
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
For Lease
Year built
1970
Construction
CONCRETE
Heating
SPACE
Buildings
1
Stories
3
Units
5
Total area
23,110 SF
Lot
1.37 ac (59,461 SF)
Zoning code
ML40
APN
WORC M:02 B:005 L:00004
UPID
US38-0419498
Jurisdiction
WORCESTER
Zoning & alternative use
ML40 · Worcester, MA
Zoning ML40 · permitted uses
ML40 · 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
COMMERCIAL (GENERAL) Current
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$4.0M
RETAIL STORES
Est. value
$3.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.8M
WAREHOUSE, STORAGE
Est. value
$2.3M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1970
Construction
CONCRETE
Heating
SPACE
Stories
3
Buildings
1
Units
5
Lot
1.37 ac
Current owner
From public records · entity-resolved
Thomas-summer St T
Individual
Free & Clear · 4 yrs held
Mailing address
100 MLK JR BLVD, WORCESTER, MA 01608-1209
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 15, 2022
$2,650,000
Thomas-summer St T
Vna Care Network Fndtn
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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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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