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Property profile & analytics
OFF-MARKET
Estimated value
$625,000
Office buildings
37 Mechanic St Worcester, MA 01608-2418
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-1465377
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1910
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,788 SF
Lot
0.05 ac (2,378 SF)
Zoning code
BG-6
APN
WORC M:02 B:025 L:0014A
UPID
US38-1465377
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
-
Central Shoe Services Co (Bike/Boat/Book/etc) Store
-
Bodkin & Mason, LLP Law Firm
-
The Law Offices of George E. Bourguignon, Jr. Law Firm Financial Advisor
-
Bodkin Jr Thomas W Law Firm
-
BABAU & BARON, LLP Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$540k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$688k
Blend (final)
Blend
$625k
Owner & transaction history
37 Mechanic RT · 3 yrs held
37 Mechanic RT
since 2022
Last sale
$675,000
6 recorded transactions
Zoning & alternative use
BG-6 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$820,000
+37.1%
Retail stores
$700,000
+17.2%
Neighborhood: shopping center
$605,000
+1.2%
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
$555,000
ML approach
$540,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$595,000
Current use
AUTO REPAIR, GARAGE
$820,000
Change: +37% · Conversion: Difficult
RETAIL STORES
$700,000
Change: +17% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$605,000
Change: +1% · Conversion: Difficult
COMMERCIAL (GENERAL)
$525,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$480,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$625k
Range $563k – $688k · ±10% · vs last sale $675k (Sep 16 2022)
Last sale anchor
$675k
Sep 16 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
$131 / 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
$15,552
Tax year 2024
Assessed value
$517,700
Assessed 2024
Previous assessed
$474,400
+9.1% YoY
Effective rate
3.00%
On assessed value
Assessed land
$361,300
Assessed improvement
$156,400
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
1910
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
1
Stories
2
Total area
4,788 SF
Lot
0.05 ac (2,378 SF)
Zoning code
BG-6
APN
WORC M:02 B:025 L:0014A
UPID
US38-1465377
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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$595,000
AUTO REPAIR, GARAGE
Est. value
$820,000
RETAIL STORES
Est. value
$700,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$605,000
COMMERCIAL (GENERAL)
Est. value
$525,000
WAREHOUSE, STORAGE
Est. value
$480,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
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
1910
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
2
Buildings
1
Lot
0.05 ac
Current owner
From public records · entity-resolved
37 Mechanic RT
Individual
Mailing address
249 PROSPECT ST, AUBURN, MA 01501-3344
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2022
$675,000
37 Mechanic RT
Pj RT
Quit Claim Arm's Length For Ne States
$500,000 · Rockland Trust Co
Oct 20, 2008
—
Pietro,james J Tr
—
Deed Of Trust
related
$850,000 · Clinton Savings Bank
Jan 19, 1999
$250,000
Pj RT
Jard Pj RT
Grant Deed
related
—
Jan 19, 1999
—
Pj RT
—
Deed Of Trust
related
$250,000 · First Massachusetts Bank
Jul 23, 1997
—
Jard Pj RT
—
Deed Of Trust
related
$145,000 · First Massachusetts Bank
Apr 15, 1987
—
Jaro P J Rlty Tr
—
Deed Of Trust
related
$325,000 · 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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