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Property profile & analytics
OFF-MARKET
Estimated value
$925,000
Office buildings
23 Commonwealth Ave, Chestnut Hill, MA 02467-1003
Entity Owned
1-yr Hold
Free & Clear
Property ID
US38-1886987
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1929
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,376 SF
Lot
0.04 ac (1,600 SF)
Zoning code
BU1
APN
NEWT S:63 B:001 L:0006
UPID
US38-1886987
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
$820k
CAP Approach
CAP
$1.15M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$925k
Owner & transaction history
23 Comm Avenue Realty LLC · 1 yrs held
23 Comm Avenue Realty LLC
since 2025
Last sale
$925,000
1 recorded transaction
Zoning & alternative use
BU1 · Chestnut Hill, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Chestnut Hill submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chestnut Hill 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
$810,000
ML approach
$820,000
CAP Approach
CAP Return
Estimation
6%
$1,245,000
6.5%
$1,150,000
7%
$1,065,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,460,000
Current use
AUTO REPAIR, GARAGE
$1,400,000
Change: -4% · Conversion: Difficult
RETAIL STORES
$1,275,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$925k
Range $833k – $1.02M · ±10% · vs last sale $925k (Feb 27 2025)
Last sale anchor
$925k
Feb 27 2025
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
$389 / 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
$10,967
Tax year 2024
Assessed value
$598,300
Assessed 2024
Previous assessed
$627,900
-4.7% YoY
Effective rate
1.83%
On assessed value
Assessed land
$277,500
Assessed improvement
$320,800
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1929
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Buildings
1
Stories
2
Units
1
Rooms
4
Bathrooms
1
Total area
2,376 SF
Lot
0.04 ac (1,600 SF)
Zoning code
BU1
APN
NEWT S:63 B:001 L:0006
UPID
US38-1886987
Jurisdiction
NEWTON
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
BU1 · Chestnut Hill, MA
Zoning BU1 · permitted uses
BU1 · Chestnut Hill, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chestnut Hill. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.4M
RETAIL STORES
Est. value
$1.3M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1929
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Buildings
1
Units
1
Rooms
4
Bathrooms
1
Lot
0.04 ac
Current owner
From public records · entity-resolved
23 Comm Avenue Realty LLC
Entity
Free & Clear · 1 yrs held
Mailing address
23 COMMONWEALTH AVE, CHESTNUT HILL, MA 02467-1003
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 27, 2025
$925,000
23 Comm Avenue Realty LLC
Arrow Mutual Liability In
Deed
—
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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