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    Property profile & analytics

    31 Park Ave Worcester, MA 01605-3910

    • Turn key restaurants
    • 16,418 SF
    • 0.86 lot acres
    OFF-MARKET
    Value Estimation
    $2,070,000
    Last Sale
    Feb 12, 2020
    $1,580,000
    Location Intelligence
    Property ID
    US38-0894170
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 31 Park Ave

    Year built
    1970
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.86 lot acres
    Property size
    16,418 SF
    Zone code
    ML-.5
    Property type
    Turn key restaurants
    APN
    WORC M:01 B:01F L:00038
    APU
    WORCM01B01FL00038

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $2,240,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,610,000
      6.5%
      $1,720,000
      7%
      $1,615,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,440,000
      Geo Method
      $1,710,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,455,000
      Retail
      $1,665,000
      Mixed-Use
      $1,370,000
      Hospitality
      $1,765,000
      Educational
      $1,845,000
      Residential Income
      $1,640,000
      Energy
      $1,730,000
      Income-Based Land
      $1,445,000
      Food Service
      $1,365,000

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.808
    Latitude
    42.283
    CBSA code
    49340
    CBSA name
    WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $42,359
    $551,100
    $859,000
    $1,410,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      14 Park Ave

      RESTAURANT • 3,707 SF
      14 Park Ave, Worcester, MA 01605-3911
      View Details
    • Value Estimation
      $275,000
      5,225 SF

      95 Prescott St

      RESTAURANT • 5,225 SF
      95 Prescott St, Worcester, MA 01605-1717
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    • Value Estimation
      $235,000
      2,104 SF

      168 Lincoln St

      RESTAURANT • 2,104 SF
      168 Lincoln St, Worcester, MA 01605-3741
      View Details

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      11,000 SF

      Retail Strip in Prime Location

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    31 Park Ave
    Worcester, MA 01605-3910
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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