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Property profile & analytics
OFF-MARKET
Estimated value
$2,425,000
Office buildings
548 Park Ave Worcester, MA 01603-2537
Entity Owned
2-yr Hold
Free & Clear
Property ID
US38-0791938
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,200 SF
Lot
0.41 ac (18,075 SF)
Zoning code
BG-2
APN
WORC M:14 B:024 L:00004
UPID
US38-0791938
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
-
Robyn Dodge Counselor
-
Sandra Mccabe Physician Medical Clinic
-
Amy Anderson Physician Medical Clinic
-
Ashley Peterson Physician Medical Clinic
-
Mentor South Bay Early Intervention (0-3) Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.34M
CAP Approach
CAP
$2.51M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.43M
Owner & transaction history
All New LLC · 2 yrs held
All New LLC
since 2023
Last sale
$2.4M
1 recorded transaction
Zoning & alternative use
BG-2 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.9M
+66.8%
Auto repair, garage
$1.6M
+37.1%
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
$2,480,000
ML approach
$2,335,000
CAP Approach
CAP Return
Estimation
6%
$2,715,000
6.5%
$2,505,000
7%
$2,330,000
Alternative Use
Use
Estimation
RESTAURANT
$1,915,000
Change: +67% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,570,000
Change: +37% · Conversion: Difficult
Blend value · Realmo final
$2.43M
Range $2.18M – $2.67M · ±10% · vs last sale $2.40M (Aug 18 2023)
Last sale anchor
$2.40M
Aug 18 2023
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
$264 / 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
$29,256
Tax year 2024
Assessed value
$973,900
Assessed 2024
Previous assessed
$1,007,500
-3.3% YoY
Effective rate
3.00%
On assessed value
Assessed land
$292,400
Assessed improvement
$681,500
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
Off-Market
Year built
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
1
Stories
1
Units
2
Total area
9,200 SF
Lot
0.41 ac (18,075 SF)
Zoning code
BG-2
APN
WORC M:14 B:024 L:00004
UPID
US38-0791938
Jurisdiction
WORCESTER
Zoning & alternative use
BG-2 · Worcester, MA
Zoning BG-2 · permitted uses
BG-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
RESTAURANT
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.6M
RESTAURANT
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
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
1
Units
2
Lot
0.41 ac
Current owner
From public records · entity-resolved
All New LLC
Entity
Free & Clear · 2 yrs held
Mailing address
548 PARK AVE, WORCESTER, MA 01603-2537
Ownership since
2023
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
Aug 18, 2023
$2,400,000
All New LLC
540 Park Avenue LLC
Quit Claim Arm's Length For Ne States
—
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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