Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    409 Chelsea St East Boston, MA 02128-3874

    • Investment properties
    • 3,348 SF
    • 0.04 lot acres
    OFF-MARKET
    Value Estimations
    $770,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1806134
    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.

    Current Use by Public Records

    • Rincon Limeño / Restaurant

    Property Details for 409 Chelsea St

    Year built
    1910
    Construction
    FRAME
    Lot size
    0.04 lot acres
    Property size
    3,348 SF
    Zone code
    RC
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    EBOS W:01 P:00475 S:000
    APU
    EBOSW01P00475S000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,010,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,105,000
      Change: +9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    East Boston
    County
    Suffolk
    State
    Massachusetts
    Longitude
    -71.0269
    Latitude
    42.3798
    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
    $0.00
    $168,800
    $537,350
    $706,150
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $620,000
      1.20 Acres

      E

      OFFICE/RESIDENTIAL (MIXED USE) • 1.20 Acres
      E, Boston, MA 02128
      View Details
    • Value Estimation by Request
      0.06 Acres

      New St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.06 Acres
      New St, East Boston, MA 02128
      View Details
    • Value Estimation
      $700,000
      3,606 SF

      728-730 Bennington St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,606 SF
      728-730 Bennington St, East Boston, MA 02128
      View Details
    • Value Estimation
      $820,000
      4,150 SF

      127-129 London St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,150 SF
      127-129 London St, East Boston, MA 02128
      View Details
    • Value Estimation
      $1,015,000
      4,565 SF

      85 Lubec St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,565 SF
      85 Lubec St, East Boston, MA 02128-3193
      View Details
    • Value Estimation
      $1,040,000
      5,649 SF

      317-317A Sumner St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,649 SF
      317-317A Sumner St, East Boston, MA 02128
      View Details

    Similar Nearby for Sale

    • $2,399,000

      Orient Heights Development Opportunity

      Development project near Orient Heights MBTA Blue Line station.
      970 Saratoga St, Boston, MA 02128
      View Details
    • $1,499,000

      Multifamily Asset in Jeffries Point

      Well-maintained multifamily property in a desirable East Boston neighborhood.
      191 Everett St, Boston, MA 02128
      View Details
    • $949,000

      East Boston Three-Family with Storefront

      Three-family property with commercial space in prime East Boston location.
      198 Marion St, Boston, MA 02128
      View Details
    • $2,275,000
      4,000 SF

      East Boston Multifamily Investment

      Prime 4-unit building, high NOI.
      169 Trenton St, Boston, MA 02128
      View Details
    • $1,090,000

      Boston Triplex Near Airport Station

      Triplex near Airport Station with in-unit laundry and central AC.
      139 Chelsea St, Boston, MA 02128
      View Details
    • $899,900

      Three-Unit Brick Rowhouse in Boston

      Three-unit brick rowhouse near Bremen Street Park and public transportation.
      206 Chelsea St, Boston, MA 02128
      View Details

    Similar Nearby for Lease

    • $3,300 /Mo

      East Boston Commercial Space Available

      Expansive commercial space in East Boston's Orient Heights neighborhood.
      956 Saratoga St, Boston, MA 02128
      View Details
    • Contact for pricing
      2,800 SF

      East Boston Retail Space Available

      2,800 SF retail space for rent in East Boston.
      221 Border St, East Boston, MA 02128
      View Details
    • $65 SF/Yr
      1,055 SF

      Retail Space in Maverick Square

      Retail space available in a high-traffic area near MBTA station.
      2-10 Maverick Sq, Boston, MA 02128
      View Details
    • $3,000 /Mo

      Updated Corner Retail Space Available

      Updated retail space with storefront windows in high-traffic area.
      108 Maverick St, Boston, MA 02128
      View Details
    • Contact for pricing
      11,957 SF

      East Boston Warehouse Near Airport

      Warehouse space near Logan Airport with loading docks and parking.
      580 Chelsea St, East Boston, MA 02128
      View Details
    • $25 SF/Yr
      5,000 SF

      Classic Boston Office Space

      Prime Boston office space with historic charm and modern functionality.
      59 Meridian St, East Boston, MA 02128
      View Details

    Property Visit Statistics

    • Visits by month
      10.8k
    • Visitors by month
      6.0k
    • Avg Time on site
      12 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    409 Chelsea St
    East Boston, MA 02128-3874
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.