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    Property profile & analytics

    507 Main St Worcester, MA 01608

    • Investment properties
    • 76,790 SF
    • 0.21 lot acres
    For Lease
    View listing
    $20 SF/Yr
    Value Estimation
    $6,925,000
    Last Sale
    Mar 12, 2020
    $5,915,000
    Location Intelligence
    Property ID
    US38-1199015
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Freddy G.Master barber / Barber Shop
    • City Jewelry / Jeweler
    • Park Plaza / Apartment Building
    • Santander Bank Branch / Bank / Financial Institution
    • Santander Bank ATM / Atm

    Property Details for 507 Main St

    Year built
    1885
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.21 lot acres
    Property size
    76,790 SF
    Zone code
    BG-6
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    WORC M:03 B:013 L:00001
    APU
    WORCM03B013L00001

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $7,035,000

    • CAP approach

      CAP return
      Estimation
      6%
      $5,920,000
      6.5%
      $5,550,000
      7%
      $5,615,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $6,960,000
      Geo Method
      $5,590,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $5,745,000
      Retail
      $6,920,000
      Mixed-Use
      $5,970,000
      Hospitality
      $6,145,000
      Educational
      $5,360,000
      Residential Income
      $6,115,000
      Energy
      $5,690,000
      Income-Based Land
      $5,195,000
      Food Service
      $5,440,000

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.8026
    Latitude
    42.2619
    CBSA code
    49340
    CBSA name
    WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $0.00
    $2,250,000
    $7,052,700
    $9,302,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      612,538 SF

      145 Frnt St

      OFFICE/RESIDENTIAL (MIXED USE) • 612,538 SF
      145 Frnt St, Worcester, MA 01608-1418
      View Details
    • Value Estimation by Request
      9,720 SF

      120 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 9,720 SF
      120 Main St, Worcester, MA 01608-1170
      View Details
    • Value Estimation by Request
      10,815 SF

      240 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 10,815 SF
      240 Main St, Worcester, MA 01608-1202
      View Details
    • Value Estimation by Request
      14,652 SF

      154 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 14,652 SF
      154 Main St, Worcester, MA 01608
      View Details
    • Value Estimation by Request
      105,346 SF

      26 Portland St

      OFFICE/RESIDENTIAL (MIXED USE) • 105,346 SF
      26 Portland St, Worcester, MA 01608-2096
      View Details
    • Value Estimation by Request
      324,167 SF

      340 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 324,167 SF
      340 Main St, Worcester, MA 01608-1604
      View Details

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      Worcester Specialty Property for Sale

      Specialty property available for purchase in Worcester, Massachusetts.
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      1,680 SF building ideal for retail or vehicle-related businesses.
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    Similar Nearby for Lease

    • Contact for pricing
      30,000 SF

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    • $29 SF/Yr
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      Downtown Worcester Office Space Available

      Premier mixed-use property with office and retail space for rent.
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    • $1,400 /Mo
      1,000 SF

      Versatile Retail Space in Worcester

      Modern retail space for lease with ample parking and visibility.
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      View Details
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    507 Main St
    Worcester, MA 01608
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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