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Property profile & analytics
OFF-MARKET
Estimated value
$5,240,000
Grocery and convenience stores
221 Park Ave, Worcester, MA 01609-2243
Entity Owned
Absentee Owner
Free & Clear
Property ID
US38-1351497
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1965
Construction
CONCRETE
Total area
37,090 SF
Lot
2.94 ac (128,066 SF)
Zoning code
BL-1
APN
WORC M:11 B:005 L:00015
UPID
US38-1351497
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
-
Coinstar Bank Credit Union
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.75M
Blend (final)
Blend
$5.24M
Owner & transaction history
MJS REALTY LLC
MJS REALTY LLC
Zoning & alternative use
BL-1 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.7M
+42.4%
Auto repair, garage
$6.3M
+17.0%
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
Alternative Use
Use
Estimation
RETAIL STORES
$5,420,000
Current use
RESTAURANT
$7,715,000
Change: +42% · Conversion: Easy
AUTO REPAIR, GARAGE
$6,340,000
Change: +17% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,680,000
Change: -14% · Conversion: Moderate
OFFICE BUILDING
$4,625,000
Change: -15% · Conversion: Easy
COMMERCIAL (GENERAL)
$4,505,000
Change: -17% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$4,450,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$5.24M
Range $4.72M – $5.76M · ±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
$141 / 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
$175,238
Tax year 2024
Assessed value
$5,833,500
Assessed 2024
Previous assessed
$4,831,800
+20.7% YoY
Effective rate
3.00%
On assessed value
Assessed land
$3,105,900
Assessed improvement
$2,727,600
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1965
Construction
CONCRETE
Heating
SPACE
Buildings
1
Stories
1
Units
1
Total area
37,090 SF
Lot
2.94 ac (128,066 SF)
Zoning code
BL-1
APN
WORC M:11 B:005 L:00015
UPID
US38-1351497
Jurisdiction
WORCESTER
Zoning & alternative use
BL-1 · Worcester, MA
Zoning BL-1 · permitted uses
BL-1 · 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
RETAIL STORES Current
Est. value
$5.4M
RESTAURANT
Est. value
$7.7M
AUTO REPAIR, GARAGE
Est. value
$6.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.7M
OFFICE BUILDING
Est. value
$4.6M
COMMERCIAL (GENERAL)
Est. value
$4.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.5M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
CONCRETE
Heating
SPACE
Stories
1
Buildings
1
Units
1
Lot
2.94 ac
Current owner
From public records · entity-resolved
MJS REALTY LLC
Entity
Free & Clear · 0 yrs held
Mailing address
47 OUTLOOK DR, FRAMINGHAM, MA 01701
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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