Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    21 Progress Ave Ste, Unit 6 Chelmsford, MA 01824-3600

    • Industrial properties
    • 975 SF
    OFF-MARKET
    Value Estimations
    $225,000
    Show details
    Cap Rate Potential
    4.5%
    Industrial properties
    Location Intelligence
    Property ID
    US38-0836625
    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

    • Industrial properties

    Property Details for 21 Progress Ave Ste

    Year built
    1987
    Property size
    975 SF
    Zone code
    IA
    Property type
    Industrial properties
    APN
    CHEL M:0075 B:0291 L:40 U:6
    APU
    CHELM0075B0291L40U6

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $175,000
      6.5%
      $160,000
      7%
      $150,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $207,000
      Market price range: $83.6k - $248k
      AI Estimate
      $155,000
      Market price range: $25.7k - $185k

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

    Location Insight

    • Map
    • Local Demand
    City
    Chelmsford
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.3229
    Latitude
    42.5992
    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
    $2,762
    $0.00
    $160,400
    $160,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $700,000
      55,460 SF

      88 Tpke Rd

      INDUSTRIAL (GENERAL) • 55,460 SF
      88 Tpke Rd, Chelmsford, MA 01824-3526
      View Details
    • Value Estimation
      $580,000
      36,300 SF

      11 Alpha Rd

      INDUSTRIAL (GENERAL) • 36,300 SF
      11 Alpha Rd, Chelmsford, MA 01824-4124
      View Details
    • Value Estimation
      $540,000
      101,038 SF

      2 Elizabeth Dr

      INDUSTRIAL (GENERAL) • 101,038 SF
      2 Elizabeth Dr, Chelmsford, MA 01824-4112
      View Details
    • Value Estimation
      $755,000
      966 SF

      145 Stedman St Ste, Unit 3

      CONDOMINIUMS (INDUSTRIAL) • 966 SF
      145 Stedman St Ste, Chelmsford, MA 01824-1869
      View Details
    • Value Estimation
      $2,495,000
      10,986 SF

      23 Industrial Ave

      INDUSTRIAL (GENERAL) • 10,986 SF
      23 Industrial Ave, Chelmsford, MA 01824-3611
      View Details
    • Value Estimation
      $245,000
      2,000 SF

      4 Kidder Rd Ste, Unit 2

      CONDOMINIUMS (INDUSTRIAL) • 2,000 SF
      4 Kidder Rd Ste, Chelmsford, MA 01824-6301
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,155 SF

      Chelmsford Flex Building For Sale

      9,153 SF flex building with additional parking/storage.
      24 Maple Rd, Chelmsford, MA 01824
      View Details
    • Contact for pricing
      4.80 Acres

      Chelmsford Land - 4.8 Acres

      Prime Chelmsford development opportunity.
      40 Brick Kiln Rd, Chelmsford, MA 01824
      View Details
    • $250,000

      Chelmsford Office Units For Sale

      Two office units in need of complete renovation.
      139 Billerica Rd, Chelmsford, MA 01824
      View Details
    • $789,999

      Renovated Mixed-Use Building For Sale

      Two-story renovated building with office/retail space and luxury apartment.
      205 Chelmsford St, Chelmsford, MA 01824
      View Details
    • $2,900,000
      3.20 Acres

      Chelmsford Office Building - 3.2 Acres

      Large Office & Garage Space - Excellent Location
      229 Billerica Rd, Chelmsford, MA 01824
      View Details
    • $2,500,000
      1.21 Acres

      Chelmsford Industrial Land Opportunity

      1.21 Acres, Prime Location, $2.5M
      315 Littleton Rd, Chelmsford, MA 01824
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      54,000 SF

      Middlesex County Industrial Space

      Flex/Manufacturing Space Available Now
      7 Stuart Rd, Chelmsford, MA 01824
      View Details
    • $14 SF/Yr
      25,000 SF

      Chelmsford Office, Industrial, Garage Space

      25,000 SF available with office, industrial, and garage bays.
      200 Turnpike Rd, Chelmsford, MA 01824
      View Details
    • Contact for pricing
      43,464 SF

      Chelmsford Industrial Flex Space

      Single-story R&D/light assembly facility in Altid Industrial Park.
      19 Alpha Rd, Chelmsford, MA 01824
      View Details
    • $5,100 /Mo
      3,400 SF

      Chelmsford Flex Space Available

      Flex space for lease with warehouse and office areas.
      10 Jean Ave, Chelmsford, MA 01824
      View Details
    • Contact for pricing
      26,752 SF

      Chelmsford Flex Space Available

      Newly renovated flex space with highway visibility and ample parking.
      330 Billerica Rd, Chelmsford, MA 01824
      View Details
    • Contact for pricing
      7,009 SF

      Chelmsford Office/R&D Space Available

      Office/R&D building with flexible space and abundant parking.
      1 Executive Dr, Chelmsford, MA 01824
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    21 Progress Ave Ste, Unit 6
    Chelmsford, MA 01824-3600
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.