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Property profile & analytics
OFF-MARKET
Estimated value
$5,885,000
Manufacturing properties
44 Portland St, Worcester, MA 01608-2023
Individually Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US38-1258311
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1935
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
82,936 SF
Lot
0.63 ac (27,367 SF)
Zoning code
BG-6
APN
WORC M:03 B:012 L:49-52
UPID
US38-1258311
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
-
Davis Art Gallery Art Gallery
-
WorcLab Incubator & Coworking space Business Service Center Corporate Office
-
ArtsWorcester Art Gallery Non-Profit Organization
-
Crocodile River Music Corporate Office
-
Agape Construction Group General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.91M
Blend (final)
Blend
$5.89M
Owner & transaction history
Printers Building T · 7 yrs held
Printers Building T
since 2019
5 recorded transactions
Zoning & alternative use
BG-6 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$9.1M
+20.2%
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
INDUSTRIAL (GENERAL)
$7,590,000
Current use
COMMERCIAL (GENERAL)
$9,120,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$5.89M
Range $5.30M – $6.47M · ±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
$71 / 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
$96,308
Tax year 2024
Assessed value
$3,206,000
Assessed 2024
Previous assessed
$2,904,300
+10.4% YoY
Effective rate
3.00%
On assessed value
Assessed land
$773,100
Assessed improvement
$2,432,900
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1935
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Buildings
1
Stories
7
Units
16
Total area
82,936 SF
Lot
0.63 ac (27,367 SF)
Zoning code
BG-6
APN
WORC M:03 B:012 L:49-52
UPID
US38-1258311
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
INDUSTRIAL (GENERAL) Current
Est. value
$7.6M
COMMERCIAL (GENERAL)
Est. value
$9.1M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
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
1935
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Stories
7
Buildings
1
Units
16
Lot
0.63 ac
Current owner
From public records · entity-resolved
Printers Building T
Individual
Mailing address
50 PORTLAND ST, WORCESTER, MA 01608-2013
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 27, 2019
—
Printers Building T
—
Deed
related
$2,173,000 · Bay State Savings Bank
Jun 22, 2012
—
Building T Printers
—
Deed Of Trust
related
$500,000 · Wyatt R Wade
May 3, 2012
—
Building T Printers
—
Deed Of Trust
related
$200,000 · Wyatt R Wade
Jun 29, 2011
—
Building T Printers
—
Deed Of Trust
related
$270,000 · Peoples Bank
Jul 31, 1995
—
Printers Building Tr
—
Deed Of Trust
related
$150,000 · Safety Fund National 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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