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Property profile & analytics
OFF-MARKET
Estimated value
$2,145,000
Showrooms
221 Chandler St, Worcester, MA 01609-2961
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-1310601
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
22,020 SF
Lot
0.94 ac (41,073 SF)
Zoning code
BG-3
APN
WORC M:06 B:012 L:00055
UPID
US38-1310601
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
-
Temple of Beautiful Ministry International Church
-
Wilson J Insurance Agency Insurance Agency
-
Rehab Center LTK Rehabilitation Center Addiction Treatment Center
-
El Juidero store Factory Textile Manufacturer
-
KM Nails Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.06M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.82M
Blend (final)
Blend
$2.15M
Owner & transaction history
Polar Views LLC · 3 yrs held
Polar Views LLC
since 2023
Last sale
$2.2M
7 recorded transactions
Zoning & alternative use
BG-3 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.2M
+20.3%
Neighborhood: shopping center
$2.8M
+3.9%
Office building
$2.7M
+2.7%
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
$2,225,000
ML approach
$2,060,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,675,000
Current use
RETAIL STORES
$3,215,000
Change: +20% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,780,000
Change: +4% · Conversion: Difficult
OFFICE BUILDING
$2,745,000
Change: +3% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,640,000
Change: -1% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,210,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$2.15M
Range $1.93M – $2.36M · ±10% · vs last sale $2.15M (Apr 5 2023)
Last sale anchor
$2.15M
Apr 5 2023
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
$97 / 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
$44,657
Tax year 2024
Assessed value
$1,486,600
Assessed 2024
Previous assessed
$1,347,400
+10.3% YoY
Effective rate
3.00%
On assessed value
Assessed land
$390,300
Assessed improvement
$1,096,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
1
Stories
1
Units
6
Total area
22,020 SF
Lot
0.94 ac (41,073 SF)
Zoning code
BG-3
APN
WORC M:06 B:012 L:00055
UPID
US38-1310601
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
COMMERCIAL (GENERAL) Current
Est. value
$2.7M
RETAIL STORES
Est. value
$3.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.8M
OFFICE BUILDING
Est. value
$2.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
WAREHOUSE, STORAGE
Est. value
$2.2M
COMMERCIAL (GENERAL) Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
1
Units
6
Lot
0.94 ac
Current owner
From public records · entity-resolved
Polar Views LLC
Entity
Mailing address
221 CHANDLER ST, WORCESTER, MA 01609-2961
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 2, 2026
—
221 Chandler Street LLC
—
Deed
related
$2,700,000
Jun 21, 2024
—
Polar Views LLC
—
Deed
related
$3,171,000 · Qs Lending T
Apr 5, 2023
$2,150,000
Polar Views LLC
Anush B Kazarian
Quit Claim Arm's Length For Ne States
$1,827,500 · Athens Street Capital
Jul 11, 2002
—
Anush B Kazarian
—
Deed Of Trust
related
$242,000 · Webster Five Cents Sav Bank
Jun 7, 1996
$550,000
Anush B Kazarian
Skw Re LP
Grant Deed
$275,000 · Bankboston Development Co LLC
Jun 7, 1996
—
Anush B Kazarian
—
Deed Of Trust
related
$220,000 · Bankboston Development Co LLC
Jan 30, 1996
—
Skw Real Est LP
—
Deed Of Trust
related
$191,547,754 · General Electric Capital Corp
Apr 24, 1995
—
Skw Real Est LP
—
Deed Of Trust
related
$316,220 · State Street Bank & Trust Co
Nov 9, 1994
$425,000
Skw Re LP
Kazarian,kazar
Grant Deed
—
May 26, 1988
$425,000
Kazar D Kazarian
Yaylaian,vahan M
Grant Deed
$1,200,000 · Shawmut Worc Cnty Bk
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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