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Property profile & analytics
OFF-MARKET
Estimated value
$3,105,000
Office buildings
191 May St Worcester, MA 01602-4353
Entity Owned
7-yr Hold
Free & Clear
Property ID
US38-1001818
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
19,420 SF
Lot
3.16 ac (137,649 SF)
Zoning code
IN-H
APN
WORC M:51 B:014 L:0000A
UPID
US38-1001818
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
-
Reliant Medical Group Neurology Department Hospital
-
Dr. Karen A. Heveron, MD Pediatrician Medical Clinic
-
RCAP Solutions Charitable Organization Social Service Agency
-
Reliant Medical Group Internal Medicine Department Medical Clinic
-
Reliant Medical Group: Morris Evelyn L MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.63M
Blend (final)
Blend
$3.11M
Owner & transaction history
Cp 191 May Street LLC · 7 yrs held
Cp 191 May Street LLC
since 2019
3 recorded transactions
Zoning & alternative use
IN-H · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.0M
+66.8%
Auto repair, garage
$3.3M
+37.1%
Retail stores
$2.8M
+17.2%
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
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
OFFICE BUILDING
$2,420,000
Current use
RESTAURANT
$4,040,000
Change: +67% · Conversion: Moderate
AUTO REPAIR, GARAGE
$3,320,000
Change: +37% · Conversion: Difficult
RETAIL STORES
$2,835,000
Change: +17% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,450,000
Change: +1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,330,000
Change: -4% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,135,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$1,950,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$3.11M
Range $2.79M – $3.42M · ±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
$160 / 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
$99,952
Tax year 2024
Assessed value
$3,327,300
Assessed 2024
Previous assessed
$3,029,800
+9.8% YoY
Effective rate
3.00%
On assessed value
Assessed land
$900,800
Assessed improvement
$2,426,500
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
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
1
Stories
2
Total area
19,420 SF
Lot
3.16 ac (137,649 SF)
Zoning code
IN-H
APN
WORC M:51 B:014 L:0000A
UPID
US38-1001818
Jurisdiction
WORCESTER
Zoning & alternative use
IN-H · Worcester, MA
Zoning IN-H · permitted uses
IN-H · 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
$2.4M
RESTAURANT
Est. value
$4.0M
AUTO REPAIR, GARAGE
Est. value
$3.3M
RETAIL STORES
Est. value
$2.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$2.1M
WAREHOUSE, STORAGE
Est. value
$2.0M
OFFICE BUILDING Current
RESTAURANT
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
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
2
Buildings
1
Lot
3.16 ac
Current owner
From public records · entity-resolved
Cp 191 May Street LLC
Entity
Free & Clear · 7 yrs held
Mailing address
1 W BOYLSTON ST STE LL5, WORCESTER, MA 01605-1275
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 12, 2019
—
Cp 191 May Street LLC
—
Deed
related
$2,058,000 · Td Bank NA
Jun 14, 2019
$950,000
Cp 191 May Street LLC
Snh Medical Office
Quit Claim Deed
—
Aug 13, 2008
$91,948,929
Hegarty,david J Tr
Mob RT
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
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