Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    617 Ml St Ste 2a Worcester, MA 01602-1775
    Back to Search
    Property profile & analytics

    617 Ml St Ste 2a, Worcester, MA 01602-1775

    View on Map
    • Office Spaces
    • 936 SF
    • 0.08 lot acres
    Off-Market
    Property ID
    US38-0563318
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Restoration Health Institute / Association / Organization
    • PIA Realty / Real Estate Agency
    • Stephen W. Debs, Esquire / Law Firm
    • Liz Champi Realtor / Real Estate Agency
    • Happiness starts here / Real Estate Agency

    Property Details for 617 Ml St Ste 2a

    Year built
    1900
    Lot size
    0.08 lot acres
    Zone code
    BL-1
    Property type
    Office Spaces
    APN
    WORC M:30 B:1A1 L:0002A
    APU
    WORCM30B1A1L0002A

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 30, 2014 $80,000 Thomas B Carroll Reidy,dennis M Quit Claim Deed —
    Jun 27, 1996 $67,000 Dennis M Reidy Smeagle,william P Grant Deed $47k · Leicester Svgs Bk
    Jan 2, 1990 $95,000 Catherine Smeagle Ranta,frank Grant Deed $85k · Bankboston Development Co LLC

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.8525
    Latitude
    42.2774
    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
    $3,683
    $0.00
    $122,600
    $122,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      888 SF

      617 Ml St Ste, Unit 4

      CONDOMINIUM OFFICES
      617 Ml St Ste, Worcester, MA 01602-1775
      View Details
    • Value Estimation
      $510,000
      9,813 SF

      10 Mann St

      CONDOMINIUM OFFICES
      10 Mann St, Worcester, MA 01602-3414
      View Details
    • Value Estimation
      $675,000
      13,572 SF

      4 Mann St, Unit 2

      CONDOMINIUM OFFICES
      4 Mann St, Worcester, MA 01602-3414
      View Details
    • Value Estimation by Request
      965 SF

      617 Ml St Ste, Unit 5

      CONDOMINIUM OFFICES
      617 Ml St Ste, Worcester, MA 01602-1775
      View Details
    • Value Estimation by Request
      6,528 SF

      1015 Pleasant St

      Multifamily properties
      1015 Pleasant St, Worcester, MA 01602
      View Details
    • Value Estimation by Request
      1,000 SF

      344 Chandler St

      Distribution properties
      344 Chandler St, Worcester, MA 01602
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Leased Duplex Investment Opportunity

      Two-unit property fully leased through May and June 2026.
      29 Scenic Dr, Worcester, MA 01602
      View Details
    • Contact for pricing
      4,151 SF

      Worcester West Side Triplex

      Well-maintained 3-family property near Clark University with upside potential.
      121 Winfield St, Worcester, MA 01602
      View Details
    • Contact for pricing
      4,151 SF

      West Side Triplex Near Clark

      Well-maintained 3-family property in Worcester's desirable West Side.
      121 Winfield St, Worcester, MA 01602
      View Details
    • $500,000

      Freestanding Building on Chandler Street

      Freestanding building suitable for various service-based businesses.
      376 Chandler St, Worcester, MA 01602
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      150 SF

      Worcester Office Space For Lease

      Office spaces available in well-maintained Worcester building with parking.
      100 June St, Worcester, MA 01602
      View Details
    • Contact for pricing

      Versatile Building Near Worcester Airport

      10,000 SF building suitable for office, medical, or industrial use.
      170 Goddard Memorial Dr, Worcester, MA 01602
      View Details
    • Contact for pricing
      2,400 SF

      Turnkey Worcester Office Space

      Move-in ready office unit in a prime Worcester location.
      625 Chandler St, Worcester, MA 01602
      View Details
    • Contact for pricing

      Turnkey Office Unit in Worcester

      Move-in ready office space with private offices and conference area.
      625 Chandler St, Worcester, MA 01602
      View Details
    • Contact for pricing

      Worcester Office Space For Rent

      Second-floor office suite in Worcester, ready for occupancy.
      625 Chandler St, Worcester, MA 01602
      View Details

    Property Visit Statistics

    • Visits by month
      8.0k
    • Visitors by month
      7.0k
    • Avg Time on site
      6 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    617 Ml St Ste 2a
    Worcester, MA 01602-1775
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    617 Ml St Ste 2a, Worcester, MA, 01602
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!