Building Details

Building Size 14,800 SF

Year Built 1930

Buildings 1

Stories 5

Listing Agency: Century 21 North East Show Phone

Listed By: Diane Cambria Show Phone

Source: Churchillprop

Added: May 11 Changed: Oct 6 Last Checked: Oct 14 at 9:03PM

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Investment Insights

Based on property information with market context.

This restored mixed-use building contains 14,800 square feet across a commercial component and residential floors. The first floor and basement provide approximately 3,000 square feet of commercial space, with the basement connected by elevator. Sixteen one-bedroom apartments occupy the second and third floors, with three apartments currently vacant. The building dates to 1930 and includes Mitsubishi split systems serving heat, air, and electric needs in each apartment.

Additional features include rear parking for the business, elevator access for residents, laundry access, and video monitoring throughout the building. The property is located at 267 Broadway in Chelsea, Massachusetts, with transportation connections to Boston and surrounding towns within a short walk. Zoning is BR.

Key Highlights

• 14,800‑square‑foot mixed‑use building constructed in 1930
• Approximately 3,000 SF of commercial space plus a full basement
• 16 one‑bedroom apartments on the second and third floors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$257,094

Cap Rate

2.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,141,880 $5.1M

Cap Rate 7%

$3,672,771 $3.7M

Cap Rate 9%

$2,856,600 $2.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 14,800 SF

Gross rent

$497.3K $33.60/SF

− Vacancy

−$29.8K −$2.02/SF

EGI

$467.4K $31.58/SF

− OpEx

−$210.3K −$14.21/SF

NOI

$257.1K $17.37/SF

Area

Suffolk County, MA

Vacancy

6.00%

Lease Rate

$33.60 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,141,880

Cap Rate 7%

$3,672,771

Cap Rate 9%

$2,856,600

Alternative Uses

Best Use

Apartment 5plus

$3.67M

$3.21M – $4.28M (±1% cap)

NOI $257,094 @ 7.0% cap · market cap 2.96%

Second Best

Mixed Use

$2.95M

$2.58M – $3.44M (±1% cap)

NOI $206,682 @ 7.0% cap · market cap 2.38%

Theoretical Best

Office A

$8.76M

$7.67M – $10.22M (±1% cap)

NOI $613,308 @ 7.0% cap · market cap 7.05%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Mixed-use properties

Suggested Use

Top Pick HVAC Service Gym & Fitness Center Veterinary Clinic Skin Care Clinic (Bike/Boat/Book/etc) Store Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

16

Residential units

Location Intelligence

Trade Area within ½ mile

1,928

Businesses Nearby

Explore this area Business Placement

Demographics for 02150, MA

40,721

Population

14,162

Households

2.9

Avg Household Size

34

Median Age

22%

College-Educated

69%

High-School Grad

2.2 sq mi

ZIP Area

18,510

Density / Sq Mi

$72,122

Median Household Income

$41,046

Median Earnings

$1,861

Median Rent

$476,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Architecturally designed property combines commercial space, one-bedroom apartments, elevator access, and rear parking.

Where is this mixed-use property located?

The property is located at 267 Broadway Chelsea, MA.

What is the asking price?

The asking price for this property is $8,700,000.

What are key features of this property?

This property features: 14,800‑square‑foot mixed‑use building constructed in 1930; Approximately 3,000 SF of commercial space plus a full basement; 16 one‑bedroom apartments on the second and third floors