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Property profile & analytics
OFF-MARKET
Estimated value
$695,000
Investment properties
338 Main St, Southbridge, MA 01550-3727
Entity Owned
4-yr Hold
Property ID
US38-0017774
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1907
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,216 SF
Lot
0.13 ac (5,663 SF)
Zoning code
CC
APN
SBRI M:0035 B:0036 L:00001
UPID
US38-0017774
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
$710k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$431k
Blend (final)
Blend
$695k
Owner & transaction history
Patrick Real Estate LLC · 4 yrs held
Patrick Real Estate LLC
since 2022
Last sale
$920,000
7 recorded transactions
Zoning & alternative use
CC · Southbridge, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.1M
+86.4%
Warehouse, storage
$925,000
+55.9%
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 Southbridge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Southbridge 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
$730,000
ML approach
$710,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$595,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,105,000
Change: +86% · Conversion: Moderate
WAREHOUSE, STORAGE
$925,000
Change: +56% · Conversion: Difficult
Blend value · Realmo final
$695k
Range $626k – $765k · ±10% · vs last sale $920k (Apr 8 2022)
Last sale anchor
$920k
Apr 8 2022
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
$75 / 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
$6,560
Tax year 2024
Assessed value
$429,900
Assessed 2024
Previous assessed
$388,900
+10.5% YoY
Effective rate
1.53%
On assessed value
Assessed land
$54,200
Assessed improvement
$375,700
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1907
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Buildings
1
Stories
3
Units
15
Total area
9,216 SF
Lot
0.13 ac (5,663 SF)
Zoning code
CC
APN
SBRI M:0035 B:0036 L:00001
UPID
US38-0017774
Jurisdiction
SOUTHBRIDGE
Zoning & alternative use
CC · Southbridge, MA
Zoning CC · permitted uses
CC · Southbridge, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Southbridge. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$595,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$925,000
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
1907
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Stories
3
Buildings
1
Units
15
Lot
0.13 ac
Current owner
From public records · entity-resolved
Patrick Real Estate LLC
Entity
Mailing address
38 MINUTEMAN WAY, SHREWSBURY, MA 01545-2273
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 8, 2022
—
Patrick Real Estate LLC
Jing Tan
Quit Claim Deed
related
—
May 24, 2021
$920,000
Jing Tan
Southbridge Equities LLC
Quit Claim Arm's Length For Ne States
$720,000 · Southbridge Cu
Aug 21, 2018
$975,000
Southbridge Equities L
Southbridge Re LLC
Quit Claim Arm's Length For Ne States
$750,000 · Hunt Mortgage
Mar 26, 2014
—
Southbridge Re LLC
Foote,hunter T
Quit Claim Deed
related
$210,000 · Hometown Bank Coop
Oct 1, 2013
$135,000
Hunter T Foote
Myers Group INC
Quit Claim Deed
$155,000 · David Foote
Oct 31, 2006
$400,000
Myers Group INC
James W Latour
Deed
$285,600 · Silver Hill Fncl LLC
Jul 10, 2001
—
James W Latour
—
Deed Of Trust
related
$76,817 · Mariner Rlty Advisors
Mar 24, 1988
—
L Henry Latour
—
Deed Of Trust
related
$225,000 · Guaranty Bank
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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