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Property profile & analytics
OFF-MARKET
Estimated value
$5,380,000
Office buildings
425 Lk N Ave Worcester, MA 01605-2072
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US38-0397736
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
35,180 SF
Lot
2.48 ac (108,028 SF)
Zoning code
2
APN
WORC M:46 B:043 L:0001B
UPID
US38-0397736
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
-
Dr. Frank Vargo Physician Medical Clinic
-
Jyotsna Mhatre Physician
-
Ronald Gobeil Pharmacy
-
Frank Vargo Physician Medical Clinic
-
Joel Popkin Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.97M
Blend (final)
Blend
$5.38M
Owner & transaction history
Saint Joseph Realty LLC · 6 yrs held
Saint Joseph Realty LLC
since 2019
3 recorded transactions
Zoning & alternative use
2 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.3M
+66.8%
Auto repair, garage
$6.0M
+37.1%
Retail stores
$5.1M
+17.2%
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
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
OFFICE BUILDING
$4,385,000
Current use
RESTAURANT
$7,320,000
Change: +67% · Conversion: Moderate
AUTO REPAIR, GARAGE
$6,015,000
Change: +37% · Conversion: Difficult
RETAIL STORES
$5,140,000
Change: +17% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,480,000
Change: +2% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$4,440,000
Change: +1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,220,000
Change: -4% · Conversion: Easy
WAREHOUSE, STORAGE
$3,530,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$5.38M
Range $4.84M – $5.92M · ±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
$153 / 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
$138,788
Tax year 2024
Assessed value
$4,620,100
Assessed 2024
Previous assessed
$5,399,900
-14.4% YoY
Effective rate
3.00%
On assessed value
Assessed land
$1,338,600
Assessed improvement
$3,281,500
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
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
1
Stories
2
Units
5
Total area
35,180 SF
Lot
2.48 ac (108,028 SF)
Zoning code
2
APN
WORC M:46 B:043 L:0001B
UPID
US38-0397736
Jurisdiction
WORCESTER
Zoning & alternative use
2 · Worcester, MA
Zoning 2 · permitted uses
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
OFFICE BUILDING Current
Est. value
$4.4M
RESTAURANT
Est. value
$7.3M
AUTO REPAIR, GARAGE
Est. value
$6.0M
RETAIL STORES
Est. value
$5.1M
COMMERCIAL (GENERAL)
Est. value
$4.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.2M
WAREHOUSE, STORAGE
Est. value
$3.5M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
2
Buildings
1
Units
5
Lot
2.48 ac
Current owner
From public records · entity-resolved
Saint Joseph Realty LLC
Entity
Mailing address
243 W MAIN ST, HOPKINTON, MA 01748-2110
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 25, 2019
$1,600,000
Saint Joseph Realty LLC
Snh Medical Office RT
Quit Claim Arm's Length For Ne States
$2,917,500 · Cornerstone Bank
Aug 13, 2008
$91,948,929
Hegarty,david J Tr
Mob RT
Grant Deed
—
May 15, 1997
$47,750,000
Mob RT
Lakeside Realty Co
Grant Deed
—
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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