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    Property profile & analytics

    1406 Main St Worcester, MA 01603-1289

    • Super regional malls
    • 4,000 SF
    • 0.49 lot acres
    OFF-MARKET
    Value Estimation
    $405,000
    Last Sale
    Apr 30, 2024
    Location Intelligence
    Property ID
    US38-0827114
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Fresh Way Pizza / Pizza Restaurant / Italian Restaurant
    • ONE STOP SMOKE SHOP / Tobacco Shop
    • One Stop Mini Market / Tobacco Shop / Ice Cream Shop
    • ATM / Atm
    • Eleni's Designs / Beauty Salon

    Property Details for 1406 Main St

    Year built
    1987
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.49 lot acres
    Property size
    4,000 SF
    Zone code
    BL-1
    Property type
    Super regional malls
    APN
    WORC M:15 B:009 L:00004
    APU
    WORCM15B009L00004

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $380,000

    • CAP approach

      CAP return
      Estimation
      6%
      $440,000
      6.5%
      $450,000
      7%
      $495,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $455,000
      Geo Method
      $480,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $470,000
      Retail
      $545,000
      Mixed-Use
      $415,000
      Hospitality
      $520,000
      Educational
      $495,000
      Residential Income
      $480,000
      Energy
      $475,000
      Income-Based Land
      $450,000
      Food Service
      $455,000

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.8546
    Latitude
    42.2409
    CBSA code
    49340
    CBSA name
    WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $17,123
    $312,700
    $257,300
    $570,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      25,765 SF

      65 James St

      REGIONAL SHOPPING CENTER, MALL • 25,765 SF
      65 James St, Worcester, MA 01603-1026
      View Details
    • Value Estimation by Request
      26,864 SF

      1049th Main St

      REGIONAL SHOPPING CENTER, MALL • 26,864 SF
      1049th Main St, Worcester, MA 01603-2421
      View Details
    • Value Estimation
      $360,000
      7,369 SF

      1330 Main St

      REGIONAL SHOPPING CENTER, MALL • 7,369 SF
      1330 Main St, Worcester, MA 01603-1552
      View Details
    • Value Estimation by Request
      47,102 SF

      120 Stafford St

      REGIONAL SHOPPING CENTER, MALL • 47,102 SF
      120 Stafford St, Worcester, MA 01603-1457
      View Details
    • Value Estimation by Request
      19,880 SF

      1241 Main St

      REGIONAL SHOPPING CENTER, MALL • 19,880 SF
      1241 Main St, Worcester, MA 01603-1842
      View Details
    • Value Estimation by Request
      7,161 SF

      155 James St

      REGIONAL SHOPPING CENTER, MALL • 7,161 SF
      155 James St, Worcester, MA 01603
      View Details

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    Similar Nearby for Lease

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      Worcester Retail Pad Site Opportunity

      Prime 2.24-acre lot, build-to-suit options.
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    • $15 SF/Yr
      24,829 SF

      Versatile Commercial Space in Worcester

      Spacious retail unit with office and warehouse potential.
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    • $1,800 /Mo

      High-Traffic Retail Space Available

      Retail space with excellent visibility on a busy main road.
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      View Details
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    1406 Main St
    Worcester, MA 01603-1289
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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