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Property profile & analytics
OFF-MARKET
Estimated value
$660,000
Retail space
318 Pleasant St Worcester, MA 01609-2025
Individually Owned
22-yr Hold
~
Est. High Equity
Property ID
US38-0910228
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,880 SF
Lot
0.27 ac (11,802 SF)
Zoning code
BG-3
APN
WORC M:06 B:007 L:00029
UPID
US38-0910228
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
-
Pleasant Cafe and Bar Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$681k
Blend (final)
Blend
$660k
Owner & transaction history
George Rigney · 22 yrs held
George Rigney
since 2004
5 recorded transactions
Zoning & alternative use
BG-3 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.0M
+17.0%
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
RETAIL STORES
$860,000
Current use
AUTO REPAIR, GARAGE
$1,005,000
Change: +17% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$740,000
Change: -14% · Conversion: Moderate
OFFICE BUILDING
$735,000
Change: -15% · Conversion: Easy
COMMERCIAL (GENERAL)
$715,000
Change: -17% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$705,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$660k
Range $594k – $726k · ±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
$112 / 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
$13,317
Tax year 2024
Assessed value
$443,300
Assessed 2024
Previous assessed
$363,000
+22.1% YoY
Effective rate
3.00%
On assessed value
Assessed land
$135,100
Assessed improvement
$308,200
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Total area
5,880 SF
Lot
0.27 ac (11,802 SF)
Zoning code
BG-3
APN
WORC M:06 B:007 L:00029
UPID
US38-0910228
Jurisdiction
WORCESTER
Zoning & alternative use
BG-3 · Worcester, MA
Zoning BG-3 · permitted uses
BG-3 · 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
RETAIL STORES Current
Est. value
$860,000
AUTO REPAIR, GARAGE
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$740,000
OFFICE BUILDING
Est. value
$735,000
COMMERCIAL (GENERAL)
Est. value
$715,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$705,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
0.27 ac
Current owner
From public records · entity-resolved
George Rigney
Individual
Mailing address
318 PLEASANT ST, WORCESTER, MA 01609-2025
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2004
$95,000
George Rigney
Jane R Umphrey RT
Grant Deed
$50,000 · Webster Five Cents Sav Bank
Jul 16, 2002
—
George H Rigney
—
Deed Of Trust
related
$100,000 · Webster Five Cents Sav Bank
Apr 30, 2001
$225,000
George Rigney
Fisher,theodore
Grant Deed
—
Oct 20, 1988
—
Theodore Fisher
—
Deed Of Trust
related
$175,000 · Country Bank
Apr 7, 1988
—
Theodore P Fisher
—
Deed Of Trust
related
$2,495,000 · Shawmut Worc Cnty Bk
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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