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Property profile & analytics
FOR LEASE
Retail space
1405 Main St Worcester, MA 01603
Individually Owned
19-yr Hold
Free & Clear
Property ID
US38-1303342
For Lease
1 / 6
$500/Mo
1405 Main St, Worcester, MA 01603
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1935
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,475 SF
Lot
0.45 ac (19,704 SF)
Zoning code
BL-1
APN
WORC M:15 B:020 L:0001B
UPID
US38-1303342
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
-
Kathleen's Skincare & Massage Spa & Massage Center Skin Care Clinic
-
Marc Alkes Insurance Insurance Agency
-
Tara Tivnan, LMHC Medical Clinic
-
Stephen P. Welch Ophthalmologist (Bike/Boat/Book/etc) Store
-
Throne of Worship Assembly of God Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$735k
Blend (final)
Blend
$745k
Owner & transaction history
Cassanelli Ft · 19 yrs held
Cassanelli Ft
since 2006
1 recorded transaction
Zoning & alternative use
BL-1 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+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
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
RETAIL STORES
$945,000
Current use
AUTO REPAIR, GARAGE
$1,105,000
Change: +17% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$815,000
Change: -14% · Conversion: Moderate
OFFICE BUILDING
$805,000
Change: -15% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$775,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$745k
Range $671k – $820k · ±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
$115 / 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
$16,008
Tax year 2024
Assessed value
$532,900
Assessed 2024
Previous assessed
$441,500
+20.7% YoY
Effective rate
3.00%
On assessed value
Assessed land
$295,200
Assessed improvement
$237,700
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
For Lease
Year built
1935
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
6
Total area
6,475 SF
Lot
0.45 ac (19,704 SF)
Zoning code
BL-1
APN
WORC M:15 B:020 L:0001B
UPID
US38-1303342
Jurisdiction
WORCESTER
Zoning & alternative use
BL-1 · Worcester, MA
Zoning BL-1 · permitted uses
BL-1 · 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
$945,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$815,000
OFFICE BUILDING
Est. value
$805,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$775,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1935
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
6
Lot
0.45 ac
Current owner
From public records · entity-resolved
Cassanelli Ft
Individual
Free & Clear · 19 yrs held
Mailing address
566 SS ST, SHREWSBURY, MA 01545-4818
Ownership since
2006
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
Oct 13, 2006
$1
Cassanelli Ft
Cassanelli,george
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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