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Property profile & analytics
OFF-MARKET
Estimated value
$2,255,000
Warehouses
24th Jolma Rd Worcester, MA 01604-2010
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-2164499
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
17,600 SF
Lot
1.39 ac (60,548 SF)
Zoning code
BG-2
APN
WORC M:38 B:24B L:002+2
UPID
US38-2164499
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
$2.20M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.40M
Blend (final)
Blend
$2.26M
Owner & transaction history
Jolma Street LLC · 3 yrs held
Jolma Street LLC
since 2023
Last sale
$2.3M
1 recorded transaction
Zoning & alternative use
BG-2 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.7M
+107.3%
Auto repair, garage
$3.0M
+70.4%
Retail stores
$2.6M
+45.6%
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
$2,325,000
ML approach
$2,195,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,765,000
Current use
RESTAURANT
$3,660,000
Change: +107% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,010,000
Change: +70% · Conversion: Easy
RETAIL STORES
$2,570,000
Change: +46% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,220,000
Change: +26% · Conversion: Moderate
OFFICE BUILDING
$2,195,000
Change: +24% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,110,000
Change: +20% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,950,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$2.26M
Range $2.03M – $2.48M · ±10% · vs last sale $2.25M (Apr 13 2023)
Last sale anchor
$2.25M
Apr 13 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
$128 / 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
$34,621
Tax year 2024
Assessed value
$1,152,500
Assessed 2024
Previous assessed
$947,000
+21.7% YoY
Effective rate
3.00%
On assessed value
Assessed land
$146,100
Assessed improvement
$1,006,400
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
17,600 SF
Lot
1.39 ac (60,548 SF)
Zoning code
BG-2
APN
WORC M:38 B:24B L:002+2
UPID
US38-2164499
Jurisdiction
WORCESTER
Zoning & alternative use
BG-2 · Worcester, MA
Zoning BG-2 · permitted uses
BG-2 · 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
WAREHOUSE, STORAGE Current
Est. value
$1.8M
RESTAURANT
Est. value
$3.7M
AUTO REPAIR, GARAGE
Est. value
$3.0M
RETAIL STORES
Est. value
$2.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.0M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
1.39 ac
Current owner
From public records · entity-resolved
Jolma Street LLC
Entity
Mailing address
24TH JOLMA RD, WORCESTER, MA 01604-2010
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 13, 2023
$2,250,000
Jolma Street LLC
J Russ Corp
Quit Claim Arm's Length For Ne States
$1,125,000 · Berkshire Bank
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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