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Property profile & analytics
OFF-MARKET
Estimated value
$2,900,000
Super regional malls
22 Frnt St Worcester, MA 01614-1402
Individually Owned
27-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US38-1878991
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1910
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
74,149 SF
Lot
0.52 ac (22,752 SF)
Zoning code
BG-6
APN
WORC M:02 B:025 L:007+8
UPID
US38-1878991
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.76M
Blend (final)
Blend
$2.90M
Owner & transaction history
Dean Marcus · 27 yrs held
Dean Marcus
since 1999
4 recorded transactions
Zoning & alternative use
BG-6 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
Blend value · Realmo final
$2.90M
Range $2.61M – $3.19M · ±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
$39 / 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
$61,639
Tax year 2024
Assessed value
$2,051,900
Assessed 2024
Previous assessed
$1,866,200
+10.0% YoY
Effective rate
3.00%
On assessed value
Assessed land
$1,808,600
Assessed improvement
$243,300
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1910
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
1
Stories
5
Total area
74,149 SF
Lot
0.52 ac (22,752 SF)
Zoning code
BG-6
APN
WORC M:02 B:025 L:007+8
UPID
US38-1878991
Jurisdiction
WORCESTER
Zoning & alternative use
BG-6 · Worcester, MA
Zoning BG-6 · permitted uses
BG-6 · 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.
Building & site characteristics
From public records
Year built
1910
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
5
Buildings
1
Lot
0.52 ac
Current owner
From public records · entity-resolved
Dean Marcus
Individual
Mailing address
250 COMMERCIAL ST, WORCESTER, MA 01608-1726
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1999
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 13, 1999
—
Dean Marcus
—
Deed Of Trust
related
$975,000 · Lawrence Savings Bank
Jul 28, 1995
—
Dean Marcus
—
Deed Of Trust
related
$465,000 · Commerce Bank & Trust
Jun 23, 1995
—
Dean Marcus
—
Deed Of Trust
related
$300,000 · Commerce Bank & Trust
May 22, 1995
—
Dean Marcus
—
Deed Of Trust
related
$375,000 · Commerce Bank & Trust
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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