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Property profile & analytics
OFF-MARKET
Estimated value
$745,000
Turn key restaurants
1230 Main St Leicester, MA 01524-1351
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US38-1507875
Property summary
AI-generated overview
This exceptional 1,300-square-foot retail space at 1230 Main Street in Leicester, Massachusetts, presents a unique investment opportunity. Located on a 1.62-acre lot, this single-tenant property boasts convenient waterfront access and ample parking with over 65 shared spaces. The building, constructed in 1940 and renovated in 1990, is zoned CB and situated in Worcester County (zip code 01524). The property is currently vacant and ready for immediate occupancy. Existing town permits allow for a coffee shop or ice cream parlor, but the zoning allows for a wider range of retail uses. This prime location offers high visibility and accessibility, making it ideal for a variety of businesses seeking a well-established presence in a desirable community. The property's size and location provide excellent potential for growth and profitability. The ample parking ensures convenient access for customers and employees. Don't miss this chance to secure a thriving retail space in a vibrant location. Inquire today to learn more about this exceptional opportunity.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1940
Construction
FRAME
Total area
8,448 SF
Lot
1.62 ac (70,567 SF)
Zoning code
CB
APN
LEIC M:019 B:0000A11 L:0
UPID
US38-1507875
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
-
Castle Cantina Restaurant
-
Castle Cantina Tapas Bar & Restaurant Restaurant
-
Leicester Farmers' Market Specialty Food Shop Farmer's Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$904k
Blend (final)
Blend
$745k
Owner & transaction history
Quinones Properties LLC
Quinones Properties LLC
since 2025
Last sale
$1
5 recorded transactions
Zoning & alternative use
CB · Leicester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Leicester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Leicester 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
Blend value · Realmo final
$745k
Range $671k – $820k · ±10% · vs last sale $1 (Sep 12 2024)
Last sale anchor
$1
Sep 12 2024
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
$88 / 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
$10,988
Tax year 2024
Assessed value
$875,500
Assessed 2024
Previous assessed
$875,500
+0.0% YoY
Effective rate
1.26%
On assessed value
Assessed land
$212,600
Assessed improvement
$662,900
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1940
Construction
FRAME
Heating
HOT WATER
Buildings
1
Stories
1
Units
1
Bathrooms
5
Total area
8,448 SF
Lot
1.62 ac (70,567 SF)
Zoning code
CB
APN
LEIC M:019 B:0000A11 L:0
UPID
US38-1507875
Jurisdiction
LEICESTER
Zoning & alternative use
CB · Leicester, MA
Zoning CB · permitted uses
CB · Leicester, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Leicester. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1940
Construction
FRAME
Heating
HOT WATER
Stories
1
Buildings
1
Units
1
Bathrooms
5
Lot
1.62 ac
Current owner
From public records · entity-resolved
Quinones Properties LLC
Entity
Mailing address
14 HARBERTON DR, LEICESTER, MA 01524-1304
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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 7, 2025
$1,350,000
Quinones Properties LLC
Jks Waterfront Prop LLC
Deed
$350,000 · Jks Waterfront Prop L
Sep 12, 2024
—
Lake Sargent Assn INC
Jks Waterfront Prop LLC
Quit Claim Deed
related
—
Sep 21, 2021
$1,000,000
Jks Waterfront Prop LLC
James S Nicas
Quit Claim Arm's Length For Ne States
$800,000 · Melvin F Dorman
Dec 31, 2012
$1
Evangeline H Nicas
Marital T
Grant Deed
—
Oct 3, 2012
$1
Nicas T Helen
Nicas Helen K Est
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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