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Property profile & analytics
OFF-MARKET
Estimated value
$2,320,000
Office buildings
172 Shrewsbury St Worcester, MA 01604-4636
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US38-1135647
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
21,381 SF
Lot
0.44 ac (19,381 SF)
Zoning code
BG-3
APN
WORC M:16 B:015 L:15+19
UPID
US38-1135647
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
-
Kenny Exteriors Roofing Company General Contractor
-
Just Paint Studio Training Center (Bike/Boat/Book/etc) Store
-
The Imagery Studio Photography Service (Bike/Boat/Book/etc) Store
-
Park Place Realty Enterprises Real Estate Agency
-
Worm County Motor Club Motoring Club
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.31M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.85M
Blend (final)
Blend
$2.32M
Owner & transaction history
Parkside Holdings INC · 2 yrs held
Parkside Holdings INC
since 2023
Last sale
$2.3M
7 recorded transactions
Zoning & alternative use
BG-3 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.7M
+37.1%
Retail stores
$3.1M
+17.2%
Neighborhood: shopping center
$2.7M
+1.2%
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
$2,380,000
ML approach
$2,310,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,665,000
Current use
AUTO REPAIR, GARAGE
$3,655,000
Change: +37% · Conversion: Difficult
RETAIL STORES
$3,125,000
Change: +17% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,700,000
Change: +1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,565,000
Change: -4% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,370,000
Change: -11% · Conversion: Easy
WAREHOUSE, STORAGE
$2,145,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$2.32M
Range $2.09M – $2.55M · ±10% · vs last sale $2.30M (Oct 6 2023)
Last sale anchor
$2.30M
Oct 6 2023
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
$109 / 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
$52,291
Tax year 2024
Assessed value
$1,740,700
Assessed 2024
Previous assessed
$1,735,100
+0.3% YoY
Effective rate
3.00%
On assessed value
Assessed land
$309,300
Assessed improvement
$1,431,400
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
1
Stories
3
Units
14
Total area
21,381 SF
Lot
0.44 ac (19,381 SF)
Zoning code
BG-3
APN
WORC M:16 B:015 L:15+19
UPID
US38-1135647
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
OFFICE BUILDING Current
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$3.7M
RETAIL STORES
Est. value
$3.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.4M
WAREHOUSE, STORAGE
Est. value
$2.1M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
3
Buildings
1
Units
14
Lot
0.44 ac
Current owner
From public records · entity-resolved
Parkside Holdings INC
Entity
Mailing address
172 SHREWSBURY ST, WORCESTER, MA 01604-4636
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 6, 2023
$2,300,000
Parkside Holdings INC
Lawlis T
Quit Claim Arm's Length For Ne States
$2,100,000 · Lawlis Trust
Dec 8, 2022
—
Lawlis T
Gail F Sullivan
Quit Claim Deed
related
—
Aug 23, 2006
$1
T Lawlis
Lawlis,robert M
Grant Deed
—
Jan 18, 2006
$1
Gail F Sullivan
Dinatale,louis C
Grant Deed
related
—
Jul 17, 1995
$500,000
Robert Lawlis
Dinatale,louis
Grant Deed
—
Jun 29, 1989
—
Louis Dinatale JR.
—
Deed Of Trust
related
$350,000 · Bank Of N E Worcester
Sep 21, 1988
—
Louis C Dinatale JR
—
Deed Of Trust
related
$300,000 · Bank Of N E Worcester
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.
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