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Property profile & analytics
FOR LEASE
Super regional malls
603 Worcester St Natick, MA 01760
Individually Owned
36-yr Hold
~
Est. High Equity
Property ID
US38-0679598
For Lease
1 / 2
$5,310,000
603 Worcester St, Natick, MA 01760
View Listing →
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
31,516 SF
Lot
1.63 ac (71,003 SF)
Zoning code
CII
APN
NATI M:00000019 P:00000209
UPID
US38-0679598
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.31M
Owner & transaction history
Sssg RT · 36 yrs held
Sssg RT
since 1989
2 recorded transactions
Zoning & alternative use
CII · Natick, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Natick submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Natick 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
NEIGHBORHOOD: SHOPPING CENTER
$8,730,000
Current use
RETAIL STORES
$8,495,000
Change: -3% · Conversion: Easy
COMMERCIAL (GENERAL)
$8,145,000
Change: -7% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$7,260,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$5.31M
Range $4.78M – $5.84M · ±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
$168 / 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
$77,200
Tax year 2024
Assessed value
$6,296,900
Assessed 2024
Previous assessed
$6,296,900
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$1,801,300
Assessed improvement
$4,495,600
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Rooms
1
Total area
31,516 SF
Lot
1.63 ac (71,003 SF)
Zoning code
CII
APN
NATI M:00000019 P:00000209
UPID
US38-0679598
Jurisdiction
NATICK
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
CII · Natick, MA
Zoning CII · permitted uses
CII · Natick, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Natick. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$8.7M
RETAIL STORES
Est. value
$8.5M
COMMERCIAL (GENERAL)
Est. value
$8.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.3M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Rooms
1
Lot
1.63 ac
Current owner
From public records · entity-resolved
Sssg RT
Individual
Mailing address
323 SPEEN ST, NATICK, MA 01760-1500
Ownership since
1989
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 19, 1989
$2,513,000
Sssg RT
Scandinavian Gallry
Grant Deed
$1,766,000 · Bankboston Development Co LLC
Sep 27, 1988
—
Scandinavian Gallery
—
Deed Of Trust
related
$500,000 · Shawmut Bank Of Boston
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?”
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