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Property profile & analytics
OFF-MARKET
Estimated value
$1,265,000
Car washes
215 Grv St Worcester, MA 01605-1707
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US38-1647648
Property profile
Verified
Property type
Car washes
Use group
CAR WASH
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,300 SF
Lot
0.7 ac (30,442 SF)
Zoning code
BG-3
APN
WORC M:01 B:01D L:00019
UPID
US38-1647648
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
-
Ernie's Touchless Car Wash Car Wash
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.15M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.44M
Blend (final)
Blend
$1.27M
Owner & transaction history
215 Grove Street LLC · 1 yrs held
215 Grove Street LLC
since 2025
Last sale
$1.3M
5 recorded transactions
Zoning & alternative use
BG-3 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.3M
+21.7%
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
$1,120,000
ML approach
$1,145,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,075,000
Current use
RESTAURANT
$1,310,000
Change: +22% · Conversion: Difficult
RETAIL STORES
$920,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$1.27M
Range $1.14M – $1.39M · ±10% · vs last sale $1.31M (Mar 11 2025)
Last sale anchor
$1.31M
Mar 11 2025
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
$201 / 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
$39,449
Tax year 2024
Assessed value
$1,313,200
Assessed 2024
Previous assessed
$1,313,200
+0.0% YoY
Effective rate
3.00%
On assessed value
Assessed land
$433,500
Assessed improvement
$879,700
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
Car washes
Use group
CAR WASH
Status
Off-Market
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Buildings
1
Stories
1
Total area
6,300 SF
Lot
0.7 ac (30,442 SF)
Zoning code
BG-3
APN
WORC M:01 B:01D L:00019
UPID
US38-1647648
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
AUTO REPAIR, GARAGE Current
Est. value
$1.1M
RESTAURANT
Est. value
$1.3M
RETAIL STORES
Est. value
$920,000
AUTO REPAIR, GARAGE Current
RESTAURANT
RETAIL STORES
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Buildings
1
Lot
0.7 ac
Current owner
From public records · entity-resolved
215 Grove Street LLC
Entity
Mailing address
579 MILLBURY ST, WORCESTER, MA 01610-2063
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 11, 2025
$1,313,200
215 Grove Street LLC
Pallotta Ft
Deed
$4,015,000 · Country Bank
May 17, 2011
$1
Ft Pallotta
Pallotta Ernest J Est
Grant Deed
—
May 17, 2011
—
Ft Pallotta
—
Deed Of Trust
related
$2,150,000 · Peoples Bank
Feb 10, 2005
$1
Christopher D Pallotta
Pallotta,christopher D
Grant Deed
related
—
Dec 23, 2004
$1
Christopher D Pallotta
Pallotta,christopher D
Grant Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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