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Property profile & analytics
OFF-MARKET
Estimated value
$20,810,000
Specialty properties
281 Lincoln St, Worcester, MA 01605-2138
Individually Owned
Absentee Owner
Free & Clear
Property ID
US38-1629657
Property profile
Verified
Property type
Specialty properties
Use group
CHARITABLE ORGANIZATION
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
194,264 SF
Lot
4.32 ac (188,179 SF)
Zoning code
BL-1
APN
WORC M:09 B:016 L:00020
UPID
US38-1629657
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
-
Lanzillotti Lisa DDS Dental Office
-
UMass Memorial Medical Center Hand and Upper Extremity Center Medical Clinic
-
UMass Memorial Medical Center Sports Medicine Medical Clinic Physician
-
Santander Bank ATM Atm
-
UMASS Memorial Cosmetic Surgery Center Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$23.51M
Blend (final)
Blend
$20.81M
Owner & transaction history
HAHNEMANN HOSP WORCESTER
HAHNEMANN HOSP WORCESTER
Zoning & alternative use
BL-1 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$33.2M
+68.2%
Retail stores
$28.4M
+43.7%
Commercial (general)
$24.7M
+25.3%
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
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
$19,745,000
Current use
AUTO REPAIR, GARAGE
$33,205,000
Change: +68% · Conversion: Difficult
RETAIL STORES
$28,380,000
Change: +44% · Conversion: Difficult
COMMERCIAL (GENERAL)
$24,735,000
Change: +25% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$24,520,000
Change: +24% · Conversion: Difficult
OFFICE BUILDING
$24,225,000
Change: +23% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$23,310,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$20.81M
Range $18.73M – $22.89M · ±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
$107 / 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
Assessed value
$37,363,000
Assessed 2024
Previous assessed
$37,128,300
+0.6% YoY
Assessed land
$1,603,700
Assessed improvement
$35,759,300
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
Specialty properties
Use group
CHARITABLE ORGANIZATION
Status
Off-Market
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
4
Stories
3
Total area
194,264 SF
Lot
4.32 ac (188,179 SF)
Zoning code
BL-1
APN
WORC M:09 B:016 L:00020
UPID
US38-1629657
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
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
Est. value
$19.7M
AUTO REPAIR, GARAGE
Est. value
$33.2M
RETAIL STORES
Est. value
$28.4M
COMMERCIAL (GENERAL)
Est. value
$24.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$24.5M
OFFICE BUILDING
Est. value
$24.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$23.3M
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
3
Buildings
4
Lot
4.32 ac
Current owner
From public records · entity-resolved
HAHNEMANN HOSP WORCESTER
Individual
Free & Clear · 0 yrs held
Mailing address
328 SHREWSBURY ST, WORCESTER, MA 01604-5465
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.
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