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Property profile & analytics
OFF-MARKET
Estimated value
$6,505,000
Industrial properties
10 Justin Dr 2B, Chelsea, MA 02150-4058
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US38-0975677
Property profile
Verified
Property type
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Year built
1987
Construction
STEEL FRAME
Total area
24,586 SF
Zoning code
INDUST
APN
CHEL M:027 P:033C
UPID
US38-0975677
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
$6.60M
CAP Approach
CAP
$4.03M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.51M
Owner & transaction history
Jdc 65 Condo Owner LLC · 5 yrs held
Jdc 65 Condo Owner LLC
since 2020
Last sale
$6.5M
3 recorded transactions
Zoning & alternative use
INDUST · Chelsea, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$9.4M
+17.5%
Neighborhood: shopping center
$8.3M
+4.3%
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 Chelsea submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chelsea 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
$6,510,000
ML approach
$6,600,000
CAP Approach
CAP Return
Estimation
6%
$4,360,000
6.5%
$4,025,000
7%
$3,735,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$7,965,000
Current use
RETAIL STORES
$9,360,000
Change: +18% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$8,310,000
Change: +4% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,585,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$6.51M
Range $5.85M – $7.16M · ±10% · vs last sale $6.50M (Dec 15 2020)
Last sale anchor
$6.50M
Dec 15 2020
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
$265 / 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
$66,286
Tax year 2024
Assessed value
$2,791,000
Assessed 2024
Previous assessed
$2,791,000
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed improvement
$2,791,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Status
Off-Market
Year built
1987
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Total area
24,586 SF
Zoning code
INDUST
APN
CHEL M:027 P:033C
UPID
US38-0975677
Jurisdiction
CHELSEA
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
INDUST · Chelsea, MA
Zoning INDUST · permitted uses
INDUST · Chelsea, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chelsea. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$8.0M
RETAIL STORES
Est. value
$9.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.3M
COMMERCIAL (GENERAL)
Est. value
$7.6M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
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
1987
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Current owner
From public records · entity-resolved
Jdc 65 Condo Owner LLC
Entity
Free & Clear · 5 yrs held
Mailing address
7121 FAIRWAY DR STE #410, PALM BEACH GARDENS, FL 33418-3776
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2020
$6,500,000
Jdc 65 Condo Owner LLC
Blackfriad Props LLC
Condominium Deed
—
Feb 16, 2007
$1,500,000
Blackfriar Prop LLC
General Mills Operations
Grant Deed
$6,907,000 · Salem Five Cents Savings Bank
Feb 16, 2007
—
Blackfriar Prop LLC
—
Deed Of Trust
related
$1,000,000 · Digital FCU
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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