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Property profile & analytics
FOR LEASE
Office buildings
427 Main St Worcester, MA 01608
Entity Owned
17-yr Hold
Free & Clear
Property ID
US38-1352154
For Lease
1 / 7
$2,340,000
427 Main St, Worcester, MA 01608
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
16,201 SF
Lot
0.12 ac (5,141 SF)
Zoning code
BG-6
APN
WORC M:02 B:025 L:00001
UPID
US38-1352154
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
-
Harvard Pilgrim Health Care Insurance Agency
-
Weston & Sampson Engineer
-
CMIPA Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.77M
Blend (final)
Blend
$2.34M
Owner & transaction history
J LP · 17 yrs held
J LP
since 2008
3 recorded transactions
Zoning & alternative use
BG-6 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.4M
+66.8%
Auto repair, garage
$2.8M
+37.1%
Retail stores
$2.4M
+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
$2,020,000
Current use
RESTAURANT
$3,370,000
Change: +67% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,770,000
Change: +37% · Conversion: Difficult
RETAIL STORES
$2,365,000
Change: +17% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,045,000
Change: +1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,945,000
Change: -4% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,780,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$1,625,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$2.34M
Range $2.11M – $2.57M · ±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
$144 / 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
$62,594
Tax year 2024
Assessed value
$2,083,700
Assessed 2024
Previous assessed
$2,077,100
+0.3% YoY
Effective rate
3.00%
On assessed value
Assessed land
$691,400
Assessed improvement
$1,392,300
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
For Lease
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
1
Stories
4
Total area
16,201 SF
Lot
0.12 ac (5,141 SF)
Zoning code
BG-6
APN
WORC M:02 B:025 L:00001
UPID
US38-1352154
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
$2.0M
RESTAURANT
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$2.8M
RETAIL STORES
Est. value
$2.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.8M
WAREHOUSE, STORAGE
Est. value
$1.6M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
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
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
4
Buildings
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
J LP
Entity
Free & Clear · 17 yrs held
Mailing address
72 SHREWSBURY ST STE #7, WORCESTER, MA 01604-4660
Ownership since
2008
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
Apr 28, 2017
—
J&m Batista Family LP
—
Deed
related
$2,164,000 · Td Bank NA
Dec 30, 2008
$525,000
J LP
421-427 Main Street LLC
Grant Deed
—
Apr 27, 2007
$1
421-427 Main Street LLC
Cheng,hung
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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