Restored Mixed-Use
For Sale
$8,900,000
267 Broadway, Chelsea, MA 02150
Architecturally designed property combines commercial space, one-bedroom apartments, elevator access, and rear parking.
Property Size14,800 SF
Price / SF$601.35
Days on Market112
Property Features for 267 Broadway
General Information
Standard status
Active
Size
14,800 SF
Total Parking Spaces
9
Property subtype
Multi-Family
Zoning
BR
Units
Unit Mix
1 bd
Multifamily Units
16
Taxes and HOA fees
Annual Taxes
$38,119
Amenities
Mitsubishi split HVAC
video monitoring
elevator
laundry room
Building Details
Building Size
14,800 SF
Year Built
1930
Buildings
1
Stories
5
Listing Agency:
Coldwell Banker Realty - Boston
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 11
Changed: Aug 29
Last Checked: Aug 29 at 9:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty - Boston
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$257,094
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,141,880
$5.1M
Cap Rate 7%
$3,672,771
$3.7M
Cap Rate 9%
$2,856,600
$2.9M
Market Conditions
NOI Build-Up for 14,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $257,094 @ 7.0% cap · market cap 2.89%
Second Best
Mixed Use
$2.95M
$2.58M – $3.44M
NOI $206,682 @ 7.0% cap · market cap 2.32%
Theoretical Best
Office A
$8.76M
$7.67M – $10.22M
NOI $613,308 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 $8,900,000.
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
