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Property profile & analytics
OFF-MARKET
Estimated value
$6,285,000
Hotels
1016 Broadway, Chelsea, MA 02150
Entity Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US38-1846817
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2018
Construction
FRAME
Total area
66,171 SF
Lot
1.58 ac (68,686 SF)
Zoning code
BH
APN
CHEL M:076 P:009
UPID
US38-1846817
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.29M
Owner & transaction history
Broadway Hotel LLC · 10 yrs held
Broadway Hotel LLC
since 2015
6 recorded transactions
Zoning & alternative use
BH · Chelsea, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$9.2M
+553.8%
Restaurant
$8.6M
+513.4%
Auto repair, garage
$6.7M
+374.9%
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
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
$9,165,000
Change: +554% · Conversion: Difficult
RESTAURANT
$8,600,000
Change: +513% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,660,000
Change: +375% · Conversion: Difficult
RETAIL STORES
$6,295,000
Change: +349% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,965,000
Change: +325% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,820,000
Change: +315% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,055,000
Change: +261% · Conversion: Difficult
Blend value · Realmo final
$6.29M
Range $5.66M – $6.91M · ±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
$95 / 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
$266,499
Tax year 2024
Assessed value
$11,221,000
Assessed 2024
Previous assessed
$11,221,000
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$5,580,000
Assessed improvement
$5,641,000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2018
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Units
124
Rooms
124
Total area
66,171 SF
Lot
1.58 ac (68,686 SF)
Zoning code
BH
APN
CHEL M:076 P:009
UPID
US38-1846817
Jurisdiction
CHELSEA
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
BH · Chelsea, MA
Zoning BH · permitted uses
BH · 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
OFFICE BUILDING
Est. value
$9.2M
RESTAURANT
Est. value
$8.6M
AUTO REPAIR, GARAGE
Est. value
$6.7M
RETAIL STORES
Est. value
$6.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.0M
COMMERCIAL (GENERAL)
Est. value
$5.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.1M
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
2018
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Buildings
1
Units
124
Rooms
124
Lot
1.58 ac
Current owner
From public records · entity-resolved
Broadway Hotel LLC
Entity
Free & Clear · 10 yrs held
Mailing address
1359 HOOKSETT RD, HOOKSETT, NH 03106-1809
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 1, 2017
—
Broadway Hotel LLC
—
Deed
related
$4,215,000 · 6 Continents Hotel
Aug 28, 2015
$2,000,000
Broadway Hotel LLC
Vo,minh
Quit Claim Deed
—
May 23, 2001
—
Finish Amer
—
Deed Of Trust
related
$93,058 · R Christie
Jun 27, 1997
—
American Finish & Chem
—
Deed Of Trust
related
$1,100,000 · Gary Needham
Sep 27, 1988
—
American Finish & Chem
—
Deed Of Trust
related
$500,000 · Ma Business Development Corp
—
—
Broadway Hotel LLC
—
Deed Of Trust
related
$4,215,000 · 6 Continents Hotel
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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