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Property profile & analytics
OFF-MARKET
Estimated value
$5,075,000
Hotels
200 2nd St, Chelsea, MA 02150-1802
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-0802558
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2019
Construction
FRAME
Total area
53,116 SF
Lot
1.06 ac (45,995 SF)
Zoning code
INDUST
APN
CHEL M:036 P:011
UPID
US38-0802558
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
$5.08M
Owner & transaction history
Eh 24 LLC · 3 yrs held
Eh 24 LLC
since 2022
7 recorded transactions
Zoning & alternative use
INDUST · Chelsea, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$7.4M
+553.8%
Restaurant
$6.9M
+513.4%
Auto repair, garage
$5.3M
+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
$7,360,000
Change: +554% · Conversion: Difficult
RESTAURANT
$6,905,000
Change: +513% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,345,000
Change: +375% · Conversion: Difficult
RETAIL STORES
$5,050,000
Change: +349% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,790,000
Change: +325% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,670,000
Change: +315% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,060,000
Change: +261% · Conversion: Difficult
Blend value · Realmo final
$5.08M
Range $4.57M – $5.58M · ±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
$96 / 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
$347,064
Tax year 2024
Assessed value
$14,613,200
Assessed 2024
Previous assessed
$12,768,800
+14.4% YoY
Effective rate
2.38%
On assessed value
Assessed land
$4,860,000
Assessed improvement
$9,753,200
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
2019
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
4
Units
106
Total area
53,116 SF
Lot
1.06 ac (45,995 SF)
Zoning code
INDUST
APN
CHEL M:036 P:011
UPID
US38-0802558
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
OFFICE BUILDING
Est. value
$7.4M
RESTAURANT
Est. value
$6.9M
AUTO REPAIR, GARAGE
Est. value
$5.3M
RETAIL STORES
Est. value
$5.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.8M
COMMERCIAL (GENERAL)
Est. value
$4.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.1M
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
2019
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
4
Buildings
1
Units
106
Lot
1.06 ac
Current owner
From public records · entity-resolved
Eh 24 LLC
Entity
Mailing address
1621 N KENT ST STE #1115, ARLINGTON, VA 22209-2141
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2022
—
Eh 24 LLC
Seneca Hospitality LLC
Deed
$20,250,000 · Banknewport
Jul 8, 2022
$20,625,000
Eh 24 LLC
Seneca Hospitality LLC
Warranty Deed
—
Aug 28, 2018
$9,200,000
Seneca Hospitality LLC
Boston Chelsea Lodging
Quit Claim Deed
—
Jul 20, 2018
—
Boston Chelsea Lodging
—
Deed
related
$13,823,600 · Digital FCU
Aug 30, 2017
$3,675,000
Boston Chelsea Lodging
200 2nd Street LP
Quit Claim Arm's Length For Ne States
$1,850,000 · Digital FCU
Jul 10, 2017
—
200 Second Street LP
200 2nd St Trust
Quit Claim Deed
related
—
May 18, 2010
—
Scott A Solombrino
—
Deed Of Trust
related
$1,900,000 · Cooperative Bank
Oct 2, 2007
—
Street T 200 2nd
—
Deed Of Trust
related
$1,250,000 · Sovereign Bank
Nov 30, 2004
—
2nd St T 200
—
Deed Of Trust
related
$51,907 · Sovereign Bank
Jun 19, 1995
—
Second St T 200
—
Deed Of Trust
related
$493,000 · Bay Colony Dev Corp
Aug 29, 1994
—
Second St T 200
—
Deed Of Trust
related
$400,000 · Shawmut Mortgage
Apr 11, 1994
$480,000
Second St T 200
Bay Finance Co INC
Grant Deed
$480,000 · Shawmut Bank Of Boston
May 13, 1991
$510,000
Bay Finance Co INC
Iovine RT
Grant Deed
related
—
May 23, 1989
—
Iovine RT
—
Deed Of Trust
related
$200,000 · Harbor Funding Corp
Feb 12, 1987
—
Iovine RT
—
Deed Of Trust
related
$25,000 · Bankboston Development Co LLC
Jan 21, 1987
—
Iovine RT
—
Deed Of Trust
related
$25,000 · Bankboston Development Co LLC
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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