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Property profile & analytics
OFF-MARKET
Estimated value
$15,910,000
Manufacturing properties
241 Greenwood St Worcester, MA 01607
Entity Owned
6-yr Hold
Free & Clear
Property ID
US38-1170511
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
199,424 SF
Lot
12.97 ac (564,973 SF)
Zoning code
ML-.5
APN
WORC M:29 B:047 L:1-002
UPID
US38-1170511
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
$20.37M
Blend (final)
Blend
$15.91M
Owner & transaction history
AGRAND REALTY CORP
AGRAND REALTY CORP
Zoning & alternative use
ML-.5 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$25.2M
+37.9%
Office building
$24.9M
+36.2%
Apartment house (5+ units)
$23.9M
+31.1%
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
INDUSTRIAL (GENERAL)
$18,255,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$25,170,000
Change: +38% · Conversion: Difficult
OFFICE BUILDING
$24,865,000
Change: +36% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$23,925,000
Change: +31% · Conversion: Difficult
COMMERCIAL (GENERAL)
$21,935,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$15.91M
Range $14.32M – $17.50M · ±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
$80 / 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
$331,807
Tax year 2024
Assessed value
$11,045,500
Assessed 2024
Previous assessed
$9,204,600
+20.0% YoY
Effective rate
3.00%
On assessed value
Assessed land
$1,039,000
Assessed improvement
$10,006,500
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
1
Stories
2
Total area
199,424 SF
Lot
12.97 ac (564,973 SF)
Zoning code
ML-.5
APN
WORC M:29 B:047 L:1-002
UPID
US38-1170511
Jurisdiction
WORCESTER
Zoning & alternative use
ML-.5 · Worcester, MAZoning ML-.5 · permitted uses
ML-.5 · Worcester, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$18.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$25.2M
OFFICE BUILDING
Est. value
$24.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$23.9M
COMMERCIAL (GENERAL)
Est. value
$21.9M
INDUSTRIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
FORCED AIR
Stories
2
Buildings
1
Lot
12.97 ac
Current owner
From public records · entity-resolved
AGRAND REALTY CORP
Entity
Free & Clear · 0 yrs held
Mailing address
241 GREENWOOD ST, WORCESTER, MA 01607
Mailing matches property
Yes
Owner-occupied
Yes
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.
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