Two-Level Flex
For Sale
$1,499,000
1-586 Pleasant St, Watertown, MA 02472
Well-maintained commercial condo with a garage on the first level and an office suite above.
Property Size3,529 SF
Price / SF$424.77
Days on Market122
Property Features for 1-586 Pleasant St
General Information
Standard status
Active
Size
3,529 SF
Total Parking Spaces
4
Additional Details
Heavy Power
Yes
Office Units
2
Building Details
Stories
2
Listing Agency:
Elevated Realty, LLC
(617) 438-6682
Listed By:
Dimitri Petrosian
(617) 438-6682
Source:
Exprealty
Added: Apr 2
Changed: Jul 10
Last Checked: Jul 31 at 12:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Elevated Realty, LLC
Investment Insights
Based on property information with market context.
This well-maintained commercial condominium offers a flexible, two-level layout totaling 3,529 SF. The first floor features a 1,722 SF garage with 400-amp electrical service, designed to support a variety of commercial, trade, or light industrial uses. The second level is an 1,807 SF office space with two bathrooms, a kitchenette, and a shower, creating a practical live-work or office-plus-work arrangement for many operators.
The unit includes four deeded parking spaces, with additional parking available for rent. As part of a condominium structure, the configuration can suit owner-users who want both operating space and dedicated office accommodations in one ownership.
For buyers seeking functionality in a single asset, this property provides a clear separation between work and office areas, supported by substantial electrical service on the garage level. The second-floor office improvements, including two bathrooms and a kitchenette, support everyday operational needs without requiring off-site facilities. With its two-level flex design and controlled parking, it can be a workable fit for owner-users or investors evaluating a property that can serve multiple operational workflows within the same condominium unit.
The unit includes four deeded parking spaces, with additional parking available for rent. As part of a condominium structure, the configuration can suit owner-users who want both operating space and dedicated office accommodations in one ownership.
For buyers seeking functionality in a single asset, this property provides a clear separation between work and office areas, supported by substantial electrical service on the garage level. The second-floor office improvements, including two bathrooms and a kitchenette, support everyday operational needs without requiring off-site facilities. With its two-level flex design and controlled parking, it can be a workable fit for owner-users or investors evaluating a property that can serve multiple operational workflows within the same condominium unit.
Key Highlights
- Well‑maintained 3,529 SF commercial condominium with a flexible two‑level layout.
- First‑floor 1,722 SF garage with 400‑amp electrical service for commercial, trade, or light industrial uses.
- Second‑floor 1,807 SF office suite with two bathrooms, kitchenette, and a shower.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $191.4k | $54.24 |
| − Vacancy | −$42.1k | −$11.93 |
| EGI | $149.3k | $42.31 |
| − OpEx | −$37.3k | −$10.58 |
| NOI | $112.0k | $31.73 |
3,529 SF · lease $54.24/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.60M
$1.40M – $1.87M
NOI $111,977 @ 7.0% cap · market cap 7.47%
Second Best
Warehouse
$651.2K
$569.8K – $759.7K
NOI $45,581 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,241 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
2,003
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02472, MA
35,392
Population
17,069
Households
2.1
Avg Household Size
39
Median Age
67%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
8,848
Density / Sq Mi
$123,383
Median Household Income
$77,537
Median Earnings
$2,356
Median Rent
$737,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Well-maintained commercial condo with a garage on the first level and an office suite above.
Where is this flex space located?
The property is located at 1-586 Pleasant St Watertown, MA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Well‑maintained 3,529 SF commercial condominium with a flexible two‑level layout.; First‑floor 1,722 SF garage with 400‑amp electrical service for commercial, trade, or light industrial uses.; Second‑floor 1,807 SF office suite with two bathrooms, kitchenette, and a shower.
