Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Investment properties
509 Park Ave Worcester, MA 01603-2502
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US38-2518777
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1920
Construction
FRAME
Total area
2,745 SF
Lot
0.1 ac (4,500 SF)
Zoning code
BG-3
APN
WORC M:08 B:010 L:00006
UPID
US38-2518777
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
-
Distinctive Homes & Real Estate Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$450k
CAP Approach
CAP
$570k
Comparable Approach
Comparable
$417k
Blend (final)
Blend
$505k
Owner & transaction history
Oht Re Holdings LLC · 1 yrs held
Oht Re Holdings LLC
since 2025
Last sale
$560,000
7 recorded transactions
Zoning & alternative use
BG-3 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$470,000
+55.4%
Retail stores
$400,000
+32.8%
Neighborhood: shopping center
$345,000
+14.8%
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
$475,000
ML approach
$450,000
CAP Approach
CAP Return
Estimation
6%
$620,000
6.5%
$570,000
7%
$530,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$470,000
Change: +55% · Conversion: Difficult
RETAIL STORES
$400,000
Change: +33% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$345,000
Change: +15% · Conversion: Difficult
OFFICE BUILDING
$340,000
Change: +13% · Conversion: Easy
Blend value · Realmo final
$505k
Range $455k – $556k · ±10% · vs last sale $560k (Jan 27 2025)
Last sale anchor
$560k
Jan 27 2025
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
$184 / 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
Assessed value
$398,400
Assessed 2024
Previous assessed
$361,600
+10.2% YoY
Assessed land
$109,000
Assessed improvement
$289,400
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1920
Construction
FRAME
Heating
STEAM
Buildings
1
Stories
3
Units
3
Total area
2,745 SF
Lot
0.1 ac (4,500 SF)
Zoning code
BG-3
APN
WORC M:08 B:010 L:00006
UPID
US38-2518777
Jurisdiction
WORCESTER
Zoning & alternative use
BG-3 · Worcester, MA
Zoning BG-3 · permitted uses
BG-3 · 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
AUTO REPAIR, GARAGE
Est. value
$470,000
RETAIL STORES
Est. value
$400,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$345,000
OFFICE BUILDING
Est. value
$340,000
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1920
Construction
FRAME
Heating
STEAM
Stories
3
Buildings
1
Units
3
Lot
0.1 ac
Current owner
From public records · entity-resolved
Oht Re Holdings LLC
Entity
Mailing address
1 GREENSIDE LN, WORCESTER, MA 01609-1068
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 27, 2025
$560,000
Oht Re Holdings LLC
Dat T Vu
Deed
$280,000 · Banknewport
Jan 27, 2025
—
Oht Re Holdings LLC
—
Deed
related
$224,000 · Banknewport
Feb 28, 2013
$165,500
Dat T Vu
Houng,trinh T
Grant Deed
—
Sep 23, 2011
$1
Trinh T Huong
Le,nguyen X
Grant Deed
—
Aug 20, 2009
$165,000
X Nguyen
Ib Prop Holdings LLC
Grant Deed
—
Jul 30, 2008
$269,000
Ib Property Holdings LLC
Chung,steven
One Of Committee, Strict Foreclosure, Sheriff, Or Redemption Deeds
related
—
Jul 31, 2007
$340,000
Steven Chung
Tran,long V
Grant Deed
$289,000 · Interbay Funding LLC
Dec 30, 2004
—
Long V Tran
—
Deed Of Trust
related
$223,000 · Banknorth NA
Sep 27, 2002
$242,000
Long V Tran
Handy,steven R
Grant Deed
$193,600 · Banknorth NA
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 509 Park Ave?
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.
