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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    116 Chelmsford St Chelmsford, MA 01824

    • Super regional malls
    • 11,079 SF
    • 1.21 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1221067
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Super regional malls

    Property Details for 116 Chelmsford St

    Year built
    2009
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.21 lot acres
    Property size
    11,079 SF
    Zone code
    CD
    Property type
    Super regional malls
    APN
    CHEL M:0062 B:0295 L:8
    APU
    CHELM0062B0295L8

    Description

    This exceptional 2,689 square foot retail space is situated in a thriving, Class A plaza in Chelmsford, Middlesex County. The property is part of a single-story building, offering excellent visibility and accessibility. Currently vacant, this inline space presents a unique opportunity for businesses seeking a high-traffic location. The plaza boasts a strong anchor tenant lineup, including 110 Grill and Berkshire Bank, ensuring consistent foot traffic and brand synergy. This prime retail space is ideally located just off Route 495, providing convenient access for customers and employees alike. The multiple tenancy setup allows for a collaborative and vibrant atmosphere. The space is categorized as inline, strip mall, plaza, and day spa suitable, offering flexibility for a variety of retail concepts. The property's Class A designation reflects its superior construction, amenities, and overall quality. This is an exceptional opportunity to establish or expand your business in a highly desirable and visible location. The 2,689 square feet provide ample space for a variety of retail uses, allowing for creative layout and design to suit your specific needs. Don't miss this chance to secure a prominent position in a successful and well-established commercial center. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,070,000
      Current use
      RESTAURANT
      $3,215,000
      Change: +5% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,120,000
      Change: +2% Conversion: Difficult
      RETAIL STORES
      $2,985,000
      Change: -3% Conversion: Easy
      COMMERCIAL (GENERAL)
      $2,865,000
      Change: -7% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,555,000
      Change: -17% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chelmsford
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.3466
    Latitude
    42.603
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $42,303
    $581,400
    $1,875,200
    $2,456,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $13,640,000
      107,222 SF

      288 Chelmsford St

      REGIONAL SHOPPING CENTER, MALL • 107,222 SF
      288 Chelmsford St, Chelmsford, MA 01824-2400
      View Details
    • Value Estimation
      $6,600,000
      7,640 SF

      21 Drum Hl Rd

      REGIONAL SHOPPING CENTER, MALL • 7,640 SF
      21 Drum Hl Rd, Chelmsford, MA 01824-1503
      View Details
    • Value Estimation
      $4,355,000
      28,058 SF

      41 Drum Hl Rd, Unit 65

      REGIONAL SHOPPING CENTER, MALL • 28,058 SF
      41 Drum Hl Rd, Chelmsford, MA 01824-1503
      View Details
    • Value Estimation
      $1,430,000
      9,500 SF

      170 Concord Rd

      REGIONAL SHOPPING CENTER, MALL • 9,500 SF
      170 Concord Rd, Chelmsford, MA 01824-4645
      View Details
    • Value Estimation
      $835,000
      4,592 SF

      93 Chelmsford St

      REGIONAL SHOPPING CENTER, MALL • 4,592 SF
      93 Chelmsford St, Chelmsford, MA 01824-3061
      View Details
    • Value Estimation
      $4,495,000
      30,450 SF

      67 Parkhurst Rd

      REGIONAL SHOPPING CENTER, MALL • 30,450 SF
      67 Parkhurst Rd, Chelmsford, MA 01824-1518
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      2,689 SF

      Retail Space in Primrose Plaza

      Retail space available in a busy shopping center.
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      Retail Space in Chelmsford

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    • $13 SF/Yr
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      Middlesex County Industrial Space

      Flex/Manufacturing Space Available Now
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    • $14 SF/Yr
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      View Details
    • Contact for pricing
      520 SF

      Chelmsford Office Space for Lease

      Second-floor office suites available with utilities included in rent.
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      View Details
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    Chelmsford, MA 01824
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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