Individually Owned Property summary
AI-generated overview
Located at 1675 Main Street, the property is improved with a small restaurant building and a drive-in movie theater that were historically operated under short-term use. The site is zoned Highways Business Industrial 1, a district that permits a wide range of commercial and industrial uses, including warehouse/logistics, manufacturing, retail, and self-storage. Preliminary development planning has been completed for a two-building industrial project totaling approximately 431,000 square feet. The property sits within the Town of Leicester and Worcester County, areas characterized by an established industrial and manufacturing base and access to local universities and technical schools for workforce supply; Worcester Airport is about 12 minutes from the site, supporting connectivity for air freight and logistics.
Property profile
Verified
Property type
Theaters & concert halls
Use group
DRIVE-IN THEATER
Year built
1950
Construction
FRAME
Total area
5,614 SF
Lot
21 ac (914,760 SF)
Zoning code
HB1
APN
LEIC M:018 B:00000A7 L:0
UPID
US38-0841420
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$315k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$315k
Owner & transaction history
since 2026
3 recorded transactions
Zoning & alternative use
HB1 · Leicester, MA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$315k
Value range
$284k – $347k
±10% around blend
Estimated value / SF
$56 / SF
Confidence
Property data
100
Comparable evidence
60
$284k
blend $315k
$347k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
5,614 SF
Lot area
21 ac
Year built
1950
Stories
1
APN
LEIC M:018 B:00000A7 L:0
Zoning
HB1
Assessed value
$771,800
Annual tax
$9,686
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$315k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$772k
Move the market yield to see immediate price impact.
Value / SF
$137
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$49k
$972k
$695k
$540k
$54k
$1.08M
$772k
$600k
$59k
$1.19M
$849k
$660k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$9,686
Tax year 2024
Assessed value
$771,800
Assessed 2024
Previous assessed
$768,800
+0.4% YoY
Effective rate
1.25%
On assessed value
Assessed land
$638,100
Assessed improvement
$133,700
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Theaters & concert halls
Use group
DRIVE-IN THEATER
Status
Off-Market
Year built
1950
Construction
FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Units
1
Bathrooms
2
Total area
5,614 SF
Lot
21 ac (914,760 SF)
Zoning code
HB1
APN
LEIC M:018 B:00000A7 L:0
UPID
US38-0841420
Jurisdiction
LEICESTER
Zoning & alternative use
HB1 · Leicester, MAZoning HB1 · permitted uses
HB1 · Leicester, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1950
Construction
FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Units
1
Bathrooms
2
Lot
21 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
HB1
Jurisdiction
Leicester, MA
Recorded code
HB1
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for HB1 in Leicester, MA.
What opens after registration
Zoning profile
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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