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    3 Summer St Chelmsford, MA 01824-3020
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    Property profile & analytics

    3 Summer St, Chelmsford, MA 01824-3020

    View on Map
    • Office buildings
    • 4,216 SF
    • 0.46 lot acres
    Off-Market
    Last Sale Sep 28, 2022
    $960,000
    Property ID
    US38-1114894
    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.
    Value Estimations
    $930,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 3 Summer St

    Year built
    1969
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.46 lot acres
    Zone code
    CC
    Property type
    Office buildings
    APN
    CHEL M:0084 B:0341 L:9
    APU
    CHELM0084B0341L9

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 28, 2022 $960,000 3 Summer St LLC M42 Realestate LLC Quit Claim Arm's Length For Ne States $480k · Enterprise Bank & Trust Co
    Sep 28, 2022 — 3 Summer St LLC — Deed · related $348k · Bay Colony Development Corp
    Apr 3, 2018 — M42 Realestate LLC — Deed · related $386k · Bay Colony Dev
    Nov 29, 2017 $901,000 M42re LLC Katama RT Quit Claim Arm's Length For Ne States $535k · Leader Bank NA
    Jun 3, 1996 — Katama RT — Deed Of Trust · related $200k · Enterprise Bank & Trust
    Jan 18, 1995 $300,000 Katama RT Pitta,herbert JR Grant Deed $200k · Enterprise Bank & Trust
    May 7, 1992 — Brian J Sullivan — Deed Of Trust · related $163k · Commonwealth United Mtg Co
    — — M42 Realestate LLC — Deed Of Trust · related $386k · Bay Colony Dev

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $890,000
      ML approach
      $950,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $631,000
      Market price range: $239k - $632k
      AI Estimate
      $892,000
      Market price range: $401k - $893k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,185,000
      NEIGHBORHOOD: SHOPPING CENTER
      $1,170,000
      RETAIL STORES
      $1,135,000
      COMMERCIAL (GENERAL)
      $1,090,000
      WAREHOUSE, STORAGE
      $615,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Chelmsford
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.35
    Latitude
    42.5937
    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
    $15,787
    $371,900
    $544,900
    $916,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      $4,360,000
      81,489 SF

      150 Apollo Dr

      OFFICE BUILDING
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    • Value Estimation
      $1,345,000
      21,566 SF

      160 Tpke Rd

      OFFICE BUILDING
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    • Value Estimation by Request
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      6 Wesley St

      OFFICE BUILDING
      6 Wesley St, Chelmsford, MA 01824-1509
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    • Value Estimation
      $1,255,000
      18,336 SF

      84 Brick Kiln Rd

      OFFICE BUILDING
      84 Brick Kiln Rd, Chelmsford, MA 01824-3218
      View Details
    • Value Estimation by Request
      2,310 SF

      211 Chelmsford St

      OFFICE BUILDING
      211 Chelmsford St, Chelmsford, MA 01824-2309
      View Details
    • Value Estimation by Request
      1,764 SF

      54 Chelmsford St

      OFFICE BUILDING
      54 Chelmsford St, Chelmsford, MA 01824-3017
      View Details

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    • Contact for pricing

      Chelmsford Redevelopment Opportunity

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      43,520 SF

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      25,000 SF available with office, industrial, and garage bays.
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      4.80 Acres

      Chelmsford Land - 4.8 Acres

      Prime Chelmsford development opportunity.
      40 Brick Kiln Rd, Chelmsford, MA 01824
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    • Contact for pricing

      Chelmsford Industrial Building For Sale

      4,732 SF industrial building in Chelmsford, Massachusetts for sale.
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    Similar Nearby for Lease

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      155,793 SF

      Chelmsford Office Campus for Lease

      Two-building campus with visibility and branding opportunities.
      300 Billerica Rd, Chelmsford, MA 01824
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    • Contact for pricing
      29,033 SF

      Class A Office Building

      Class A office building with best-in-class amenities.
      300 Apollo Dr, Chelmsford, MA 01824
      View Details
    • Contact for pricing
      45,355 SF

      Chelmsford Office Space Available

      45,355 square foot office space for rent.
      100 Apollo Dr, 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
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    • Contact for pricing
      6,466 SF

      Chelmsford Office Building For Rent

      Three-story office building with brick facade and ribbon windows.
      100 Apollo Dr, Chelmsford, MA 01824
      View Details
    • Contact for pricing
      460 SF

      Chelmsford Office Space for Lease

      Second-floor office suites available with utilities included in rent.
      14 Fletcher St, Chelmsford, MA 01824
      View Details
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    3 Summer St
    Chelmsford, MA 01824-3020
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    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
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