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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Investment properties
138 Millbury St Worcester, MA 01610-2823
Entity Owned
7-yr Hold
Property ID
US38-2506073
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1925
Construction
FRAME
Total area
5,069 SF
Lot
0.09 ac (3,900 SF)
Zoning code
BG-3
APN
WORC M:05 B:021 L:00027
UPID
US38-2506073
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
-
El Dorado Mexican Grill Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$565k
Blend (final)
Blend
$570k
Owner & transaction history
Gremark LLC · 7 yrs held
Gremark LLC
since 2018
6 recorded transactions
Zoning & alternative use
BG-3 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$865,000
+90.7%
Retail stores
$740,000
+63.0%
Neighborhood: shopping center
$640,000
+40.8%
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
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
COMMERCIAL (GENERAL)
$455,000
Current use
AUTO REPAIR, GARAGE
$865,000
Change: +91% · Conversion: Difficult
RETAIL STORES
$740,000
Change: +63% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$640,000
Change: +41% · Conversion: Difficult
OFFICE BUILDING
$630,000
Change: +39% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$610,000
Change: +34% · Conversion: Moderate
WAREHOUSE, STORAGE
$510,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$570k
Range $513k – $627k · ±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
$112 / 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
Assessed value
$586,500
Assessed 2024
Previous assessed
$628,500
-6.7% YoY
Assessed land
$186,200
Assessed improvement
$400,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1925
Construction
FRAME
Heating
STEAM
Buildings
1
Stories
3
Units
5
Total area
5,069 SF
Lot
0.09 ac (3,900 SF)
Zoning code
BG-3
APN
WORC M:05 B:021 L:00027
UPID
US38-2506073
Jurisdiction
WORCESTER
Zoning & alternative use
BG-3 · Worcester, MA
Zoning BG-3 · permitted uses
BG-3 · 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
$455,000
AUTO REPAIR, GARAGE
Est. value
$865,000
RETAIL STORES
Est. value
$740,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$640,000
OFFICE BUILDING
Est. value
$630,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$610,000
WAREHOUSE, STORAGE
Est. value
$510,000
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
1925
Construction
FRAME
Heating
STEAM
Stories
3
Buildings
1
Units
5
Lot
0.09 ac
Current owner
From public records · entity-resolved
Gremark LLC
Entity
Mailing address
16 NANCY CIR, CANTON, MA 02021-3310
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 1, 2020
—
Gremark LLC
—
Deed
related
$140,000 · Eastern Bank
Dec 4, 2018
$485,000
Gremark LLC
Spyridon Frangos
Quit Claim Arm's Length For Ne States
$368,750 · Eastern Bank
Jun 24, 2013
—
Spyridon Frangos
Frangos,stamatia
Quit Claim Deed
related
—
Dec 18, 1991
—
Spyridon Frangos
—
Deed Of Trust
related
$92,767 · Worc County Inst Savings
Dec 1, 1988
$102,000
Stamatia Frangos
Bahnan,tony
Grant Deed
$100,000 · Worc County Inst Savings
Dec 17, 1987
$70,000
Tony Bahnan
Garg,sshankar L
Grant Deed
$40,000 · Zenon Grzybowski
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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