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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Turn key restaurants
280 Worthington St 302, Springfield, MA 01103-2302
Entity Owned
2-yr Hold
Free & Clear
Property ID
US38-1836872
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1900
Total area
30,622 SF
Lot
0.28 ac (12,201 SF)
Zoning code
B3
APN
SPRI S:12535 P:0030
UPID
US38-1836872
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
$685k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$575k
Owner & transaction history
Worthy III LLC · 2 yrs held
Worthy III LLC
since 2023
Last sale
$425,000
7 recorded transactions
Zoning & alternative use
B3 · Springfield, 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 Springfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Springfield 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
$365,000
ML approach
$685,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$575k
Range $518k – $633k · ±10% · vs last sale $425k (Jul 28 2023)
Last sale anchor
$425k
Jul 28 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
$19 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$24,617
Tax year 2023
Assessed value
$676,300
Assessed 2023
Previous assessed
$676,300
+0.0% YoY
Effective rate
3.64%
On assessed value
Assessed land
$143,800
Assessed improvement
$532,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1900
Heating
STEAM
Buildings
1
Stories
2
Rooms
9
Bathrooms
2
Total area
30,622 SF
Lot
0.28 ac (12,201 SF)
Zoning code
B3
APN
SPRI S:12535 P:0030
UPID
US38-1836872
Jurisdiction
SPRINGFIELD
Zoning & alternative use
B3 · Springfield, MA
Zoning B3 · permitted uses
B3 · Springfield, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Springfield. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1900
Heating
STEAM
Stories
2
Buildings
1
Rooms
9
Bathrooms
2
Lot
0.28 ac
Current owner
From public records · entity-resolved
Worthy III LLC
Entity
Free & Clear · 2 yrs held
Mailing address
280 WORTHINGTON ST #302, SPRINGFIELD, MA 01103-2302
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2025
—
Worthy III LLC
—
Deed
related
$1,550,000 · Bankesb
Dec 11, 2023
—
Worthy III LLC
—
Deed
related
$2,400,000 · Springfield, City Of
Jul 28, 2023
—
Worthy III LLC
Honore LLC
Quit Claim Deed
related
—
Sep 20, 2021
$800,000
Honore LLC
Venture Properties LLC
Foreclosure
related
—
Jan 27, 2000
—
Venture Prop LLC
—
Deed Of Trust
related
$420,000 · Us Venture Grp LLC
Jan 25, 2000
$425,000
Venture Prop LLC
Glasser,gerald
Grant Deed
—
Nov 12, 1996
$40,000
Gerald Glasser
Glasser,gerald
Grant Deed
related
—
Nov 10, 1994
—
Mtg Serv Spgfld
—
Deed Of Trust
related
$40,000 · Gerald Glasser
Mar 22, 1994
$50,000
Mtg Svc In Springfield
David,raymond
Grant Deed
related
—
Nov 29, 1989
—
Raymond David
—
Deed Of Trust
related
$239,000 · Baybank Valley Trust Co
Jul 6, 1987
—
Raymond David
—
Deed Of Trust
related
$181,000 · Baybank Valley Trust
—
—
Venture Properties LLC
—
Deed Of Trust
related
$180,000 · Roger F Dialessi
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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