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Property profile & analytics
OFF-MARKET
Estimated value
$1,520,000
Office buildings
71 Elm St Worcester, MA 01609-2353
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US38-0856377
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,320 SF
Lot
0.66 ac (28,923 SF)
Zoning code
BO-1
APN
WORC M:03 B:035 L:00007
UPID
US38-0856377
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
-
Commonwealth Financial Group Financial Advisor
-
Estate Preservation Law Offices Law Firm
-
Fusaro Altomare & Ermilio Business Service Center Corporate Office
-
Athlete Advisory Services Atm
-
Law Office of Richard A. Mulhearn Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.54M
Blend (final)
Blend
$1.52M
Owner & transaction history
Coastal Prop LLC · 18 yrs held
Coastal Prop LLC
since 2008
7 recorded transactions
Zoning & alternative use
BO-1 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.1M
+66.8%
Auto repair, garage
$1.8M
+37.1%
Retail stores
$1.5M
+17.2%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,285,000
Current use
RESTAURANT
$2,145,000
Change: +67% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,765,000
Change: +37% · Conversion: Difficult
RETAIL STORES
$1,510,000
Change: +17% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,300,000
Change: +1% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,255,000
Change: -3% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,240,000
Change: -4% · Conversion: Easy
WAREHOUSE, STORAGE
$1,035,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$1.52M
Range $1.37M – $1.67M · ±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
$147 / 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
$39,082
Tax year 2024
Assessed value
$1,301,000
Assessed 2024
Previous assessed
$1,346,100
-3.4% YoY
Effective rate
3.00%
On assessed value
Assessed land
$780,700
Assessed improvement
$520,300
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
3
Total area
10,320 SF
Lot
0.66 ac (28,923 SF)
Zoning code
BO-1
APN
WORC M:03 B:035 L:00007
UPID
US38-0856377
Jurisdiction
WORCESTER
Zoning & alternative use
BO-1 · Worcester, MA
Zoning BO-1 · permitted uses
BO-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
OFFICE BUILDING Current
Est. value
$1.3M
RESTAURANT
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$1.8M
RETAIL STORES
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$1.0M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Lot
0.66 ac
Current owner
From public records · entity-resolved
Coastal Prop LLC
Entity
Mailing address
71 ELM ST, WORCESTER, MA 01609-2353
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 10, 2008
$1
Coastal Prop LLC
Henderson,mark A
Grant Deed
—
Mar 10, 2008
$1,600,000
71 Elm Street Nt
Costal Prop LLC
Grant Deed
—
May 9, 2007
$1
Mark A Henderson
Coastal Prop LLC
Grant Deed
—
May 9, 2007
—
Mark A Henderson
—
Deed Of Trust
related
$1,400,000 · Banknorth NA
Jan 25, 2005
$1,165,000
Kay Bean LLC
Emarlou Shahidi RT
Deed
$932,000 · Bay State Savings Bk
Nov 17, 2003
—
Emarlou Shahidi RT
—
Deed Of Trust
related
$60,000 · Webster Five Cents Sav Bank
May 28, 2002
$665,000
Hamid K Emarlou
Birch Realty LLC
Grant Deed
$525,000 · Webster Five Cents Sav Bank
Apr 27, 2001
$430,000
Birch Realty LLC
Schwarzer,robert C
Grant Deed
$344,000 · Mass Mutual Life Ins
Mar 6, 1987
—
Carl R Schwazer
—
Deed Of Trust
related
$190,000 · Consumers Saving Bank
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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