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Property profile & analytics
OFF-MARKET
Estimated value
$6,515,000
Investment properties
218 Broadway 230, Chelsea, MA 02150-2738
Entity Owned
3-yr Hold
Property ID
US38-0833395
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
26,008 SF
Lot
0.28 ac (12,377 SF)
Zoning code
BR
APN
CHEL M:019 P:097
UPID
US38-0833395
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
$7.23M
CAP Approach
CAP
$5.59M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.52M
Owner & transaction history
218-230 Broadway LLC · 3 yrs held
218-230 Broadway LLC
since 2022
Last sale
$6.6M
7 recorded transactions
Zoning & alternative use
BR · Chelsea, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$9.9M
+23.4%
Neighborhood: shopping center
$8.8M
+9.5%
Industrial (general)
$8.4M
+5.0%
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
$7,865,000
ML approach
$7,225,000
CAP Approach
CAP Return
Estimation
6%
$6,055,000
6.5%
$5,590,000
7%
$5,190,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$8,025,000
Current use
RETAIL STORES
$9,900,000
Change: +23% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$8,790,000
Change: +10% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$8,425,000
Change: +5% · Conversion: Moderate
Blend value · Realmo final
$6.52M
Range $5.86M – $7.17M · ±10% · vs last sale $6.63M (Dec 7 2022)
Last sale anchor
$6.63M
Dec 7 2022
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
$250 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$59,562
Tax year 2019
Assessed value
$6,271,400
Assessed 2024
Previous assessed
$4,175,900
+50.2% YoY
Effective rate
0.95%
On assessed value
Assessed land
$269,600
Assessed improvement
$6,001,800
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Buildings
1
Stories
3
Units
22
Rooms
36
Total area
26,008 SF
Lot
0.28 ac (12,377 SF)
Zoning code
BR
APN
CHEL M:019 P:097
UPID
US38-0833395
Jurisdiction
CHELSEA
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
BR · Chelsea, MA
Zoning BR · permitted uses
BR · 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
COMMERCIAL (GENERAL) Current
Est. value
$8.0M
RETAIL STORES
Est. value
$9.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.8M
INDUSTRIAL (GENERAL)
Est. value
$8.4M
COMMERCIAL (GENERAL) Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (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
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
3
Buildings
1
Units
22
Rooms
36
Lot
0.28 ac
Current owner
From public records · entity-resolved
218-230 Broadway LLC
Entity
Mailing address
45 HIGH ST, EVERETT, MA 02149-3720
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 7, 2022
$6,625,000
218-230 Broadway LLC
220 Broadway LLC
Quit Claim Arm's Length For Ne States
—
Feb 15, 2018
—
220 Broadway LLC
—
Deed
related
$3,430,000 · First Republic Bank
Jun 7, 2012
—
220 Broadway LLC
—
Deed Of Trust
related
$1,904,000 · Northeast Community Bank
Mar 31, 2009
—
220 Broadway LLC
—
Deed Of Trust
related
$1,500,000 · Northeast Bank
Jun 12, 2008
—
220 Broadway LLC
—
Deed Of Trust
related
$250,000 · Northeast Bank
Sep 10, 2007
$1,435,000
220 Broadway LLC
Cherry Street Realty Co
Grant Deed
$1,130,000 · Northeast Bank
Sep 10, 2007
—
220 Broadway LLC
—
Grant Deed
related
$100,000 · Northeast Bank
Dec 31, 1990
$85,229
Cherry St Rlty Co INC
Imbrescia,frank
Grant Deed
related
—
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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