Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    15 Simmons Ave Worcester, MA 01605-2237

    • Specialty properties
    • 1,988 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Jul 08, 2022
    $349,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1005932
    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

    • Specialty properties

    Property Details for 15 Simmons Ave

    Year built
    2010
    Construction
    CONCRETE
    Lot size
    0.23 lot acres
    Property size
    1,988 SF
    Zone code
    RS-7
    Property type
    Specialty properties
    APN
    WORC M:39 B:016 L:00574
    APU
    WORCM39B016L00574

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.7744
    Latitude
    42.2888
    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
    2018
    $6,297
    $155,800
    $412,500
    $568,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,250,000
      9,876 SF

      67 Belmont St Ste, Unit 201

      CHARITABLE ORGANIZATION • 9,876 SF
      67 Belmont St Ste, Worcester, MA 01605-2649
      View Details
    • Value Estimation
      $4,345,000
      55,449 SF

      559 Plantation St

      CHARITABLE ORGANIZATION • 55,449 SF
      559 Plantation St, Worcester, MA 01605-2350
      View Details
    • Value Estimation by Request
      6,559 SF

      21 Catharine St

      CHARITABLE ORGANIZATION • 6,559 SF
      21 Catharine St, Worcester, MA 01605-2709
      View Details
    • Value Estimation
      $600,000
      18,374 SF

      1 Gorham St

      CHARITABLE ORGANIZATION • 18,374 SF
      1 Gorham St, Worcester, MA 01605-3626
      View Details
    • Value Estimation by Request
      0.55 Acres

      28 Catharine St

      CHARITABLE ORGANIZATION • 0.55 Acres
      28 Catharine St, Worcester, MA 01605
      View Details
    • Value Estimation by Request
      5,746 SF

      300 Lincoln St

      FUNERAL HOME • 5,746 SF
      300 Lincoln St, Worcester, MA 01605-3635
      View Details

    Similar Nearby for Sale

    • $4,153,016
      11,382 SF

      451 Lincoln St

      Individual retail properties • 11,382 SF
      451 Lincoln St, Worcester, MA 01605
      View Details
    • $749,900

      Large Multifamily Property Near Hospital

      Three-family property with updates, convenient location, and parking.
      24 Catharine St, Worcester, MA 01605
      View Details
    • $849,900

      Spacious Three-Family Home with Updates

      Impressive three-family home with modern updates and desirable amenities.
      12 Windsor St, Worcester, MA 01605
      View Details
    • $499,000

      Worcester Three-Family Investment Opportunity

      Well-maintained three-family property in desirable Bell Hill neighborhood.
      17 Vinson St, Worcester, MA 01605
      View Details
    • $524,999

      Two-Family Home in Forest Grove

      Two-family home near WPI and Assumption College.
      11 Chadwick St, Worcester, MA 01605
      View Details
    • $4,000,000
      17,724 SF

      New Worcester Multi-Family Residence

      Newly constructed multi-family residence in a desirable Worcester location.
      40 Hooper St, Worcester, MA 01605
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      54,381 SF

      Lincoln Plaza Retail Spaces Available

      Worcester, MA Power Center Retail Spaces
      525 Lincoln St, Worcester, MA 01605
      View Details
    • $13 SF/Yr
      6,249 SF

      Worcester Office Space Available

      Flexible workspace solutions in prime location.
      287 Floors, Worcester, MA 01605
      View Details
    • $21 SF/Yr
      72,000 SF

      Refurbished Office Property in Worcester

      72,000 square foot office property in a prime location.
      108 Grove Street Ter, Worcester, MA 01605
      View Details
    • $28 SF/Yr
      2,750 SF

      Professional Office Suites for Sublease

      Two office suites available for sublease in Worcester, MA.
      385 Grove St, Worcester, MA 01605
      View Details
    • $16 SF/Yr

      Renovated Multi-Use Building in Worcester

      Newly renovated 36,000 SF multi-use building near I-290.
      95 Prescott St, Worcester, MA 01605
      View Details
    • Contact for pricing
      44,000 SF

      Worcester Retail/Office/Warehouse Space Available

      8,000 SF space suitable for office, retail, or warehouse.
      19 Glennie St, Worcester, MA 01605
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    15 Simmons Ave
    Worcester, MA 01605-2237
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.