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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Office buildings
654 Park Ave Worcester, MA 01603
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US38-2329305
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1965
Construction
FRAME
Total area
5,717 SF
Lot
0.23 ac (9,951 SF)
Zoning code
BG-2
APN
WORC M:08 B:025 L:0010B
UPID
US38-2329305
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
$350k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$722k
Blend (final)
Blend
$550k
Owner & transaction history
Tt Chum LLC · 9 yrs held
Tt Chum LLC
since 2017
7 recorded transactions
Zoning & alternative use
BG-2 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$835,000
+17.2%
Neighborhood: shopping center
$720,000
+1.2%
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
by Request
ML approach
$350,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$715,000
Current use
RETAIL STORES
$835,000
Change: +17% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$720,000
Change: +1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$685,000
Change: -4% · Conversion: Easy
COMMERCIAL (GENERAL)
$630,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$575,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$550k
Range $495k – $605k · ±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
$96 / 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
$18,499
Tax year 2024
Assessed value
$615,800
Assessed 2024
Previous assessed
$588,500
+4.6% YoY
Effective rate
3.00%
On assessed value
Assessed land
$186,600
Assessed improvement
$429,200
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
1965
Construction
FRAME
Heating
FORCED AIR
Buildings
1
Stories
2
Total area
5,717 SF
Lot
0.23 ac (9,951 SF)
Zoning code
BG-2
APN
WORC M:08 B:025 L:0010B
UPID
US38-2329305
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
OFFICE BUILDING Current
Est. value
$715,000
RETAIL STORES
Est. value
$835,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$720,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$685,000
COMMERCIAL (GENERAL)
Est. value
$630,000
WAREHOUSE, STORAGE
Est. value
$575,000
OFFICE BUILDING Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1965
Construction
FRAME
Heating
FORCED AIR
Stories
2
Buildings
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
Tt Chum LLC
Entity
Mailing address
652 PARK AVE, WORCESTER, MA 01603-2044
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 30, 2017
$600,000
Tt Chum LLC
Fores,mary J
Quit Claim Deed
$450,000 · Mary J Fors
Mar 30, 2017
—
Mary J Fors
R P Fors LLC
Quit Claim Deed
related
—
Jun 3, 2009
$400,000
Rp Fors LLC
652-654 Park Avenue LLC
Grant Deed
$420,000 · Commonwealth National Bank
Jan 22, 2009
$410,000
Fairway Fund LLC
Pritsoulis,helen
One Of Committee, Strict Foreclosure, Sheriff, Or Redemption Deeds
related
—
Jan 22, 2009
$1
652-654 Park Avenue LLC
Shulman,matthew
One Of Committee, Strict Foreclosure, Sheriff, Or Redemption Deeds
related
—
Mar 17, 2006
$705,000
Helen Pritsoulis
Kosla,kenneth
Grant Deed
$490,000 · Greenpoint Mortgage Funding
May 17, 1989
—
Bay State Homes Corp
—
Deed Of Trust
related
$307,500 · Bay Colony Mortgage Co
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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