Add Listing
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

    2 Plymouth St Worcester, MA 01608-2121

    • Commercial land
    • 17,432 SF
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    Dec 02, 2021
    $3,150,000
    Value Estimations
    $3,015,000
    Show details
    Cap Rate Potential
    9.2%
    Commercial land
    Location Intelligence
    Property ID
    US38-0472791
    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

    • Commercial land

    Property Details for 2 Plymouth St

    Year built
    1950
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.14 lot acres
    Property size
    17,432 SF
    Zone code
    BG-4
    Property type
    Commercial land
    APN
    WORC M:05 B:004 L:03+04
    APU
    WORCM05B004L0304

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,555,000
      ML approach
      $2,595,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,920,000
      6.5%
      $3,620,000
      7%
      $3,360,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,915,000
      Current use
      RESTAURANT
      $3,625,000
      Change: +89% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,980,000
      Change: +55% Conversion: Difficult
      RETAIL STORES
      $2,545,000
      Change: +33% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $2,200,000
      Change: +15% Conversion: Difficult
      OFFICE BUILDING
      $2,175,000
      Change: +13% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,090,000
      Change: +9% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.7988
    Latitude
    42.2578
    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
    2024
    $9,147
    $304,500
    $0.00
    $304,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.12 Acres

      55 Lamartine St

      VACANT COMMERCIAL LAND • 0.12 Acres
      55 Lamartine St, Worcester, MA 01608-2111
      View Details
    • Value Estimation by Request
      0.09 Acres

      30 Lodi St

      VACANT COMMERCIAL LAND • 0.09 Acres
      30 Lodi St, Worcester, MA 01608-2118
      View Details
    • Value Estimation
      $4,105,000
      1.69 Acres

      5 Salem Sq

      VACANT COMMERCIAL LAND • 11,300 SF
      5 Salem Sq, Worcester, MA 01608-2015
      View Details
    • Value Estimation
      $1,210,000
      0.20 Acres

      112 Beacon St

      VACANT COMMERCIAL LAND • 0.20 Acres
      112 Beacon St, Worcester, MA 01608-2216
      View Details
    • Value Estimation by Request
      0.25 Acres

      193 Southbridge St

      VACANT COMMERCIAL LAND • 0.25 Acres
      193 Southbridge St, Worcester, MA 01608-2045
      View Details
    • Value Estimation by Request
      0.31 Acres

      123 Frnt St

      VACANT COMMERCIAL LAND • 0.31 Acres
      123 Frnt St, Worcester, MA 01608
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Worcester Central Business District Parcels

      Two well-located parcels in Worcester's Central Business District.
      61 Pearl St, Worcester, MA 01608
      View Details
    • Contact for pricing
      121,195 SF

      Office Space with Ballpark Views

      Office space with floor-to-ceiling windows and rooftop deck.
      50 Washington St, Worcester, MA 01608
      View Details
    • Contact for pricing
      381,368 SF

      Mixed-Use Redevelopment Opportunity

      30,000 SF mixed-use property with redevelopment potential.
      340 Main St, Worcester, MA 01608
      View Details
    • Contact for pricing
      1,680 SF

      Worcester Retail/Automotive Investment Opportunity

      1,680 SF building ideal for retail or vehicle-related businesses.
      51 Summer St, Worcester, MA 01608
      View Details

    Similar Nearby for Lease

    • $1,600 /Mo

      Loft Style Office Space

      Loft style office space with open floor plan available now.
      51 Union St, Worcester, MA 01608
      View Details
    • Contact for pricing
      1,000 SF

      Versatile Retail Space in Worcester

      Modern retail space for lease with ample parking and visibility.
      8-16 Portland St, Worcester, MA 01608
      View Details
    • Contact for pricing
      3,500 SF

      Historic Downtown Worcester Retail/Office Space

      Historic building with retail and office space in downtown Worcester.
      401-405 Main St, Worcester, MA 01608
      View Details
    • Contact for pricing
      25,649 SF

      Downtown Worcester Office Space Available

      Premier mixed-use property with office and retail space for rent.
      90-110 Front St, Worcester, MA 01608
      View Details
    • Contact for pricing

      Renovated Office Building For Rent

      First-class, three-story office building undergoing major renovations.
      120 Thomas St, Worcester, MA 01608
      View Details
    • Contact for pricing

      Class A Office Space Worcester

      Prime downtown Worcester office space for lease in modern building.
      1 Mercantile St, Worcester, MA 01608
      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.
    2 Plymouth St
    Worcester, MA 01608-2121
    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.
    Sign Up Successful!
    You now have access to more from Realmo!