Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Banks
491 Shrewsbury St Worcester, MA 01604-1638
Individually Owned
38-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US38-1780220
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1989
Construction
STEEL FRAME
Total area
7,434 SF
Lot
0.81 ac (35,085 SF)
Zoning code
MG-2
APN
WORC M:16 B:026 L:00004
UPID
US38-1780220
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&T Bank Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$480k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$800k
Blend (final)
Blend
$640k
Owner & transaction history
A Paul Cravedi · 38 yrs held
A Paul Cravedi
since 1987
1 recorded transaction
Zoning & alternative use
MG-2 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.0M
+25.0%
Medical building
$915,000
+14.5%
Restaurant
$820,000
+2.6%
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
$480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$800,000
Current use
RETAIL STORES
$1,000,000
Change: +25% · Conversion: Difficult
MEDICAL BUILDING
$915,000
Change: +14% · Conversion: Difficult
RESTAURANT
$820,000
Change: +3% · Conversion: Difficult
OFFICE BUILDING
$690,000
Change: -14% · Conversion: Difficult
AUTO REPAIR, GARAGE
$665,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$640k
Range $576k – $704k · ±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
$86 / 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
$66,241
Tax year 2024
Assessed value
$2,205,100
Assessed 2024
Previous assessed
$2,084,900
+5.8% YoY
Effective rate
3.00%
On assessed value
Assessed land
$509,900
Assessed improvement
$1,695,200
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1989
Construction
STEEL FRAME
Heating
SPACE
Buildings
1
Stories
2
Total area
7,434 SF
Lot
0.81 ac (35,085 SF)
Zoning code
MG-2
APN
WORC M:16 B:026 L:00004
UPID
US38-1780220
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
FINANCIAL BUILDING Current
Est. value
$800,000
RETAIL STORES
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$915,000
RESTAURANT
Est. value
$820,000
OFFICE BUILDING
Est. value
$690,000
AUTO REPAIR, GARAGE
Est. value
$665,000
FINANCIAL BUILDING Current
RETAIL STORES
MEDICAL BUILDING
RESTAURANT
OFFICE BUILDING
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
1989
Construction
STEEL FRAME
Heating
SPACE
Stories
2
Buildings
1
Lot
0.81 ac
Current owner
From public records · entity-resolved
A Paul Cravedi
Individual
Mailing address
1 M AND T PLZ, BUFFALO, NY 14203-2303
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1987
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 1987
—
A Paul Cravedi
—
Deed Of Trust
related
$93,081 · 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.
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?”
You own 491 Shrewsbury St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
