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Property profile & analytics
OFF-MARKET
Commercial real estate
193 Lk Ave Worcester, MA 01604-1137
Individually Owned
16-yr Hold
~
Est. High Equity
Property ID
US38-0875786
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Lot
0.44 ac (19,000 SF)
Zoning code
RL-7
APN
WORC M:17 B:028 L:00005
UPID
US38-0875786
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
-
Madulka's Ice Cream Grocery & Convenience Store Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Michael T Madulka · 16 yrs held
Michael T Madulka
since 2010
6 recorded transactions
Zoning & alternative use
RL-7 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the RL-7 is the promotion of residential uses and related uses
Zone name
Limited Residential 7000 Square Feet Minimum Lot Size
General category
RESIDENTIAL
Zone area
4,139.89 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2020Property tax & assessments
Tax year 2020
Tax billed
$26,999
Tax year 2020
Assessed value
$894,500
Assessed 2024
Previous assessed
$891,600
+0.3% YoY
Effective rate
3.02%
On assessed value
Assessed land
$286,600
Assessed improvement
$607,900
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Heating
NONE
Buildings
2
Units
6
Lot
0.44 ac (19,000 SF)
Zoning code
RL-7
APN
WORC M:17 B:028 L:00005
UPID
US38-0875786
Jurisdiction
WORCESTER
Zoning & alternative use
RL-7 · Worcester, MAZoning RL-7 · permitted uses
RL-7 · Worcester, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the RL-7 is the promotion of residential uses and related uses
Zone name
Limited Residential 7000 Square Feet Minimum Lot Size
General category
RESIDENTIAL
Zone area
4,139.89 ac
Source
Realmo
Building & site characteristics
From public records
Heating
NONE
Buildings
2
Units
6
Lot
0.44 ac
Current owner
From public records · entity-resolved
Michael T Madulka
Individual
Mailing address
195 LK AVE, WORCESTER, MA 01604-1137
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 4, 2010
$1
Michael T Madulka
American Liberty Mtg Co
Grant Deed
—
Aug 27, 2003
—
American Liberty Mtg&loan
—
Deed Of Trust
related
$250,000 · Webster First FCU
Jan 7, 2002
—
Amer Liberty Mtg
—
Deed Of Trust
related
$560,000 · Webster First FCU
Apr 3, 2000
—
Am Liberty Mtg
—
Deed Of Trust
related
$45,000 · Commerce Bank & Trust
Mar 4, 1999
—
American Liberty Mtg
—
Deed Of Trust
related
$265,000 · Commerce Bank & Trust
Dec 30, 1988
—
Dennis Ravenelle
—
Deed Of Trust
related
$320,000 · Bankboston Development Co LLC
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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