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Property profile & analytics
FOR LEASE
Retail properties & Spaces
97 Elm St, Millbury, MA 01527
Individually Owned
9-yr Hold
Property ID
US38-0746917
For Lease
1 / 2
$20 SF/Yr
97 Elm St, Millbury, MA 01527
View Listing →
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,814 SF
Lot
0.18 ac (7,841 SF)
Zoning code
B1
APN
MILB M:053 B:0000207 L:
UPID
US38-0746917
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
-
Timothy Jay Sweets Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.07M
Blend (final)
Blend
$1.58M
Owner & transaction history
97 Elm Street RT · 9 yrs held
97 Elm Street RT
since 2016
7 recorded transactions
Zoning & alternative use
B1 · Millbury, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.4M
+20.2%
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 Millbury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millbury 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
RETAIL STORES
$2,010,000
Current use
RESTAURANT
$2,415,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,965,000
Change: -2% · Conversion: Difficult
OFFICE BUILDING
$1,740,000
Change: -13% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,615,000
Change: -20% · Conversion: Moderate
Blend value · Realmo final
$1.58M
Range $1.42M – $1.74M · ±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
$123 / 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
$16,319
Tax year 2024
Assessed value
$1,233,500
Assessed 2024
Previous assessed
$1,233,500
+0.0% YoY
Effective rate
1.32%
On assessed value
Assessed land
$171,600
Assessed improvement
$1,061,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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 properties & Spaces
Use group
DEPARTMENT STORE
Status
For Lease
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
1
Stories
2
Units
9
Total area
12,814 SF
Lot
0.18 ac (7,841 SF)
Zoning code
B1
APN
MILB M:053 B:0000207 L:
UPID
US38-0746917
Jurisdiction
MILLBURY
Zoning & alternative use
B1 · Millbury, MA
Zoning B1 · permitted uses
B1 · Millbury, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Millbury. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.0M
RESTAURANT
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
2
Buildings
1
Units
9
Lot
0.18 ac
Current owner
From public records · entity-resolved
97 Elm Street RT
Individual
Mailing address
120 MAYNARD ST, NORTHBOROUGH, MA 01532-1110
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2016
$970,000
97 Elm Street RT
Blossom Investments In
Quit Claim Arm's Length For Ne States
$727,500 · Td Bank NA
Jul 30, 2013
—
Blossom Investments INC
—
Deed Of Trust
related
$54,000 · Millbury Savings Bank
Mar 17, 2011
$900,000
Sakar Bhasin
R & T Realty Corp
Grant Deed
$675,000 · Millbury Savings Bank
Dec 31, 2010
—
R&t Rlty Corp
—
Deed Of Trust
related
$720,000 · Unibank For Savings
Jun 12, 2008
—
R&t Realty Corp
—
Deed Of Trust
related
$3,320,000 · Webster Five Cents Sav Bank
Aug 29, 2003
—
R & T Rlty Corp
—
Deed Of Trust
related
$350,000 · Webster Five Cents Sav Bank
Nov 4, 2002
—
R&t Realty Corp
—
Deed Of Trust
related
$150,000 · Webster Five Cents Sav Bank
Feb 1, 1999
$500,000
R&t Rlty Corp
Bize Rlty Co
Grant Deed
related
$500,000 · Webster Five Cents Sav 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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