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Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Retail space
623 Chandler St Worcester, MA 01602-1776
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US38-1722465
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1990
Construction
FRAME
Total area
3,896 SF
Lot
0.41 ac (17,920 SF)
Zoning code
BL-1
APN
WORC M:30 B:002 L:10+7A
UPID
US38-1722465
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
-
JJM Insurance Insurance Agency
-
Rojcewicz Jr Walter A Law Firm
-
Steve Brady Law LLC Law Firm
-
The Knowledge Quest Massachusetts Tutoring Service
-
Verrell carpet Installers General Contractor Carpet & Flooring Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$750k
CAP Approach
CAP
$825k
Comparable Approach
Comparable
$575k
Blend (final)
Blend
$750k
Owner & transaction history
Markopoulos & Sons LLC · 2 yrs held
Markopoulos & Sons LLC
since 2024
Last sale
$750,000
3 recorded transactions
Zoning & alternative use
BL-1 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$665,000
+17.0%
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
$750,000
ML approach
$750,000
CAP Approach
CAP Return
Estimation
6%
$890,000
6.5%
$825,000
7%
$765,000
Alternative Use
Use
Estimation
RETAIL STORES
$570,000
Current use
AUTO REPAIR, GARAGE
$665,000
Change: +17% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$490,000
Change: -14% · Conversion: Moderate
OFFICE BUILDING
$485,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$750k
Range $675k – $825k · ±10% · vs last sale $750k (Apr 5 2024)
Last sale anchor
$750k
Apr 5 2024
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
$193 / 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
$13,719
Tax year 2024
Assessed value
$456,700
Assessed 2024
Previous assessed
$459,400
-0.6% YoY
Effective rate
3.00%
On assessed value
Assessed land
$273,400
Assessed improvement
$183,300
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1990
Construction
FRAME
Heating
FORCED AIR
Buildings
1
Stories
2
Units
6
Total area
3,896 SF
Lot
0.41 ac (17,920 SF)
Zoning code
BL-1
APN
WORC M:30 B:002 L:10+7A
UPID
US38-1722465
Jurisdiction
WORCESTER
Zoning & alternative use
BL-1 · Worcester, MA
Zoning BL-1 · permitted uses
BL-1 · 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
RETAIL STORES Current
Est. value
$570,000
AUTO REPAIR, GARAGE
Est. value
$665,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$490,000
OFFICE BUILDING
Est. value
$485,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
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
1990
Construction
FRAME
Heating
FORCED AIR
Stories
2
Buildings
1
Units
6
Lot
0.41 ac
Current owner
From public records · entity-resolved
Markopoulos & Sons LLC
Entity
Mailing address
623 CHANDLER ST, WORCESTER, MA 01602-1776
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 5, 2024
$750,000
Markopoulos & Sons LLC
Gift Shop RT
Quit Claim Arm's Length For Ne States
—
Mar 31, 2011
—
Gift Shop RT
—
Deed Of Trust
related
$500,000 · Bradford S Mauro
Mar 30, 2011
$1
Gift Shop RT
Gift Shop RT
Grant Deed
related
—
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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