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Property profile & analytics
OFF-MARKET
Parking lots & garages
3 Eaton Pl Worcester, MA 01608
Entity Owned
Free & Clear
Property ID
US38-2169878
Property summary
AI-generated overview
This exceptional 3.91-acre commercial land parcel, located at 3 Eaton Place in Worcester, Massachusetts (01608), presents a remarkable development opportunity. Situated in the heart of the City Square, this property is zoned BG-6.0 and offers unparalleled access to major roadways including Routes 190, 290, and 146. The site benefits from an existing structured parking garage beneath the land, making it effectively pad-ready for immediate development. A pre-existing permit allows for the construction of a multifamily development with up to 145 units, exempt from Worcester's Inclusionary Zoning regulations. While zoning permits a building exceeding 20 stories, the existing parking structure currently supports approximately 12 stories of residential space. The potential exists to exceed the 145-unit count
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
2015
Total area
969 SF
Lot
3.91 ac (170,493 SF)
Zoning code
BG-6
APN
WORC M:02 B:23B L:00A-1
UPID
US38-2169878
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
-
Worcester Common Garage Parking Lot & Garage
-
LAZ Parking Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Worcester Citysq Two LLC
Worcester Citysq Two LLC
since 2025
7 recorded transactions
Zoning & alternative use
BG-6 · Worcester, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$93,830
Tax year 2024
Assessed value
$3,123,500
Assessed 2024
Previous assessed
$1,675,800
+86.4% YoY
Effective rate
3.00%
On assessed value
Assessed land
$2,821,900
Assessed improvement
$301,600
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
2015
Heating
NONE
Buildings
1
Total area
969 SF
Lot
3.91 ac (170,493 SF)
Zoning code
BG-6
APN
WORC M:02 B:23B L:00A-1
UPID
US38-2169878
Jurisdiction
WORCESTER
Zoning & alternative use
BG-6 · Worcester, MA
Zoning BG-6 · permitted uses
BG-6 · 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.
Building & site characteristics
From public records
Year built
2015
Heating
NONE
Buildings
1
Lot
3.91 ac
Current owner
From public records · entity-resolved
Worcester Citysq Two LLC
Entity
Free & Clear · 0 yrs held
Mailing address
125 GOFF AVE, PAWTUCKET, RI 02860-2994
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 29, 2025
—
Worcester Citysq Two LLC
Worcester Citysquare LLC
Deed
related
—
Jul 24, 2025
—
Worcester Citysquare LLC
—
Deed
related
$3,050,000 · Cibc Bank USA
Jul 15, 2025
—
Worcester Citysquare LLC
Worcester City Sq Two LLC
Quitclaim Deed
related
—
Jun 30, 2025
—
Worcester Citysq Are 2 Ll
Foresight Capital LLC
Quitclaim Deed
related
—
Jun 30, 2025
$4,200,000
Worcester Citysquare LLC
Foresight Capital LLC
Deed
—
Apr 21, 2022
—
Foresight Capital LLC
—
Deed
related
$3,000,000 · Digital FCU
Apr 1, 2015
$3,130,000
Mc Roseland Worcester LLC
Citysquare 2 Dev Co LLC
Quit Claim Deed
—
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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