New search
Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Office Spaces
248 Broadway 1st Ste 1, Chelsea, MA 02150-2749
Individually Owned
18-yr Hold
~
Est. High Equity
Property ID
US38-1104230
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1910
Total area
1,870 SF
Zoning code
BR
APN
CHEL M:028 P:056
UPID
US38-1104230
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
$510k
Owner & transaction history
P RT · 18 yrs held
P RT
since 2008
7 recorded transactions
Zoning & alternative use
BR · Chelsea, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$273 / 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
$10,008
Tax year 2024
Assessed value
$421,400
Assessed 2024
Previous assessed
$396,100
+6.4% YoY
Effective rate
2.37%
On assessed value
Assessed improvement
$421,400
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1910
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Rooms
11
Total area
1,870 SF
Zoning code
BR
APN
CHEL M:028 P:056
UPID
US38-1104230
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.
Building & site characteristics
From public records
Year built
1910
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Rooms
11
Current owner
From public records · entity-resolved
P RT
Individual
Mailing address
248 BROADWAY 1ST STE #1, CHELSEA, MA 02150-2749
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 28, 2008
$360,000
P RT
Pottle,bradford
Grant Deed
$280,000 · Bank Of America
Feb 15, 2001
$235,000
Bradford Pottle
Mccarthy,robert M
Grant Deed
—
May 12, 1998
—
Robert M Mccarthy
—
Deed Of Trust
related
$15,000 · Chelsea Corp Economic
Apr 17, 1998
—
Robert M Mccarthy
—
Deed Of Trust
related
$108,200 · Broadway National Bank
Sep 30, 1994
—
Edward A Mccarthy JR.
—
Deed Of Trust
related
$60,000 · Broadway National Bank
Mar 2, 1992
—
Robert M Mccarthy
—
Deed Of Trust
related
$20,000 · Chelsea Corp Economic
May 3, 1990
—
Edward A Mccarthy JR.
—
Deed Of Trust
related
$290,000 · Shawmut Bank Of Boston
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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