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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Office buildings
365 Shrewsbury St Worcester, MA 01604-4631
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US38-1074164
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1880
Construction
FRAME
Total area
1,812 SF
Lot
0.09 ac (3,991 SF)
Zoning code
MG-2
APN
WORC M:16 B:022 L:00010
UPID
US38-1074164
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
-
M. Pope & Co. Fine Jewelers (Bike/Boat/Book/etc) Store
-
Massachusetts Nurses Association Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$475k
CAP Approach
CAP
$495k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$515k
Owner & transaction history
Map Realty Tllc · 2 yrs held
Map Realty Tllc
since 2023
Last sale
$533,000
7 recorded transactions
Zoning & alternative use
MG-2 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$310,000
+37.1%
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
$550,000
ML approach
$475,000
CAP Approach
CAP Return
Estimation
6%
$535,000
6.5%
$495,000
7%
$460,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$310,000
Change: +37% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±10% · vs last sale $533k (Aug 18 2023)
Last sale anchor
$533k
Aug 18 2023
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
$284 / 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
$7,810
Tax year 2024
Assessed value
$260,000
Assessed 2024
Previous assessed
$236,500
+9.9% YoY
Effective rate
3.00%
On assessed value
Assessed land
$106,900
Assessed improvement
$153,100
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1880
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Rooms
5
Bathrooms
1
Total area
1,812 SF
Lot
0.09 ac (3,991 SF)
Zoning code
MG-2
APN
WORC M:16 B:022 L:00010
UPID
US38-1074164
Jurisdiction
WORCESTER
Zoning & alternative use
MG-2 · Worcester, MA
Zoning MG-2 · permitted uses
MG-2 · 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
AUTO REPAIR, GARAGE
Est. value
$310,000
AUTO REPAIR, GARAGE
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
1880
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Rooms
5
Bathrooms
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
Map Realty Tllc
Entity
Mailing address
365 SHREWSBURY ST, WORCESTER, MA 01604-4631
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
18 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 18, 2023
$533,000
Map Realty Tllc
Djr Properties LLC
Quit Claim Arm's Length For Ne States
$517,400 · Unibank For Savings
Apr 4, 2019
—
Djr Properties LLC
Dina J Rassias
Quit Claim Deed
related
$1,260,000 · Cornerstone Bank
Jun 30, 2015
—
Dina J Rassias
Rassias Dina J & Carolyn
Quit Claim Deed
related
—
Mar 14, 2008
$1
Carolyn Rassias
Rassias,dina J
Grant Deed
related
—
Jun 28, 2006
$1
Dina J Rassias
Rassias,dina J
Grant Deed
related
—
Aug 10, 2005
—
Dina J Rassias
—
Deed Of Trust
related
$100,000 · Gmac Mortgage Corp Pa
May 14, 2004
—
Gina Pangione
—
Deed Of Trust
related
$160,000 · Joseph Casella
May 14, 2004
$1
Dina J Rassias
Rassias,dina J
Grant Deed
related
—
Jul 29, 2003
$200,000
Gina J Rassias
Smith,debra F
Grant Deed
$160,000 · Drew Mortgage Assoc INC
Jul 29, 2003
$1
Dina J Rassias
Rassias,dina J
Grant Deed
related
—
Jul 29, 2003
—
Dina J Rassias
—
Deed Of Trust
related
$160,000 · Drew Mortgage Assoc INC
Jun 3, 2002
$160,000
Debra F Smith
Fugatt,michael
Grant Deed
$128,000 · Meritage Mortgage Corp
Jun 3, 2002
—
Debra F Smith
—
Deed Of Trust
related
$32,000 · Meritage Mortgage Corp
Feb 27, 2001
—
Michael Fugatt
—
Deed Of Trust
related
$87,000 · Robert J Dean SR
Dec 1, 1999
$119,000
Michael Fugatt
Sparanges,louis
Grant Deed
$83,300 · Robert J Dean SR
Dec 1, 1999
—
Michael Fugatt
—
Deed Of Trust
related
$29,750 · Robert J Dean SR
Jul 6, 1987
$99,900
Louis Sparanges
Laraia,john J
Grant Deed
$75,000 · Home Fsb
—
—
Dina J Rassias
—
Deed Of Trust
related
$150,000 · Millbury Svgs 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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