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Property profile & analytics
OFF-MARKET
Estimated value
$4,550,000
Investment properties
28 Washington Ave Chelsea, MA 02150-3947
Entity Owned
5-yr Hold
Property ID
US38-0097181
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1910
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
23,386 SF
Lot
0.18 ac (7,894 SF)
Zoning code
BR
APN
CHEL M:038 P:110
UPID
US38-0097181
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
$5.16M
CAP Approach
CAP
$5.03M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.55M
Owner & transaction history
Lawrence Bldg LLC · 5 yrs held
Lawrence Bldg LLC
since 2021
Last sale
$4.5M
3 recorded transactions
Zoning & alternative use
BR · Chelsea, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$7.6M
+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
$4,645,000
ML approach
$5,155,000
CAP Approach
CAP Return
Estimation
6%
$5,445,000
6.5%
$5,025,000
7%
$4,665,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$7,215,000
Current use
INDUSTRIAL (GENERAL)
$7,575,000
Change: +5% · Conversion: Moderate
Blend value · Realmo final
$4.55M
Range $4.10M – $5.01M · ±10% · vs last sale $4.50M (Mar 30 2021)
Last sale anchor
$4.50M
Mar 30 2021
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
$195 / 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
$58,583
Tax year 2019
Assessed value
$4,207,800
Assessed 2024
Previous assessed
$4,487,100
-6.2% YoY
Effective rate
1.39%
On assessed value
Assessed land
$305,300
Assessed improvement
$3,902,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
1910
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
1
Stories
3
Units
31
Rooms
56
Total area
23,386 SF
Lot
0.18 ac (7,894 SF)
Zoning code
BR
APN
CHEL M:038 P:110
UPID
US38-0097181
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
$7.2M
INDUSTRIAL (GENERAL)
Est. value
$7.6M
COMMERCIAL (GENERAL) Current
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
1910
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
3
Buildings
1
Units
31
Rooms
56
Lot
0.18 ac
Current owner
From public records · entity-resolved
Lawrence Bldg LLC
Entity
Mailing address
4 GERRISH AVE, CHELSEA, MA 02150-2907
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 22, 2022
—
Lawrence Bldg LLC
—
Deed
related
$4,479,500 · Local Inititatives Support Corp
Mar 30, 2021
$4,500,000
Lawrence Bldg LLC
Bellingham Sq Assoc LP
Quit Claim Arm's Length For Ne States
$4,479,500 · Massachusetts Housing Partnership F
Mar 30, 2021
—
Lawrence Bldg LLC
—
Deed
related
$283,784 · Neighborhood Developers INC
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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