Government-Leased Office
1 Westinghouse Plaza Building C, Boston, MA 02136
For Sale
Contact for pricing
A 10-year Commonwealth of Massachusetts lease began in 2025, with scheduled annual rent increases averaging 3.0%.
Property Size33,850 SF
Price / SF$503.22
Days on Market34
Property Features for 1 Westinghouse Plaza Building C
General Information
Standard status
Size
Class
Property subtype
Occupancy
Space & Availability
Floor
Condition
Site & Location
Neighborhood
Public Transit
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Office Units
Property Use
Building Details
Year Built
Year Renovated
Buildings
Stories
Construction
Tenancy
Listing Agency:
Newmark - Boston
Listed By:
Casey Valente · License #MA 9552815
(781) 608-4026
Source:
Crexi
Added: Oct 7
Changed: Nov 8
Last Checked: Nov 8 at 2:50PM
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 Newmark - Boston
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Investment Insights
Based on property information with market context.
This first-floor office condominium at 1 Westinghouse Plaza, Building C, encompasses Units M101 and M102 in a three-story brick building constructed in 1903. The 33,850-square-foot premises include 21,872 square feet of Class A office space and 11,978 square feet of secure interior parking. A gut renovation completed in 2024 converted the space from industrial use for the tenant.
The Commonwealth of Massachusetts leases the entire property for use by its Department of Children & Families. The 10-year lease commenced upon occupancy on May 27, 2025, and runs through May 2035. Contractual rent increases average 3.0% annually, with 30.6% growth over the lease term. The lease has a true net structure, and the property is in a transit-served location in Boston.
The Commonwealth of Massachusetts leases the entire property for use by its Department of Children & Families. The 10-year lease commenced upon occupancy on May 27, 2025, and runs through May 2035. Contractual rent increases average 3.0% annually, with 30.6% growth over the lease term. The lease has a true net structure, and the property is in a transit-served location in Boston.
Key Highlights
- 33,850 square feet, including 21,872 square feet of office space and 11,978 square feet of secure interior parking
- 100% leased to the Commonwealth of Massachusetts Department of Children & Families
- 10‑year lease runs through May 2035; commenced May 27, 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$998,033
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,960,660
$20.0M
Cap Rate 7%
$14,257,614
$14.3M
Cap Rate 9%
$11,089,256
$11.1M
Market Conditions
NOI Build-Up for 33,850 SF
Gross rent
$1.71M $50.40/SF
− Vacancy
−$375.3K −$11.09/SF
EGI
$1.33M $39.31/SF
− OpEx
−$332.7K −$9.83/SF
NOI
$998.0K $29.48/SF
Area
Boston, MA
Vacancy
22.00%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,960,660
Cap Rate 7%
$14,257,614
Cap Rate 9%
$11,089,256
Alternative Uses
Best Use
Office B
$14.26M
$12.48M – $16.63M
NOI $998,033 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$25.35M
$22.18M – $29.57M
NOI $1,774,282 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Office units
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
573
Businesses Nearby
Explore this area
Business Placement
Demographics for 02136, MA
35,102
Population
14,031
Households
2.5
Avg Household Size
39
Median Age
32%
College-Educated
88%
High-School Grad
4.6 sq mi
ZIP Area
7,631
Density / Sq Mi
$96,862
Median Household Income
$50,793
Median Earnings
$1,772
Median Rent
$566,300
Median Home Value
Market
Average Price Trend$/SF for Office Units in Boston, MA
Properties on Market for Office Units in Boston
Vacancy Rate% for Office in Boston, MA
Frequently Asked Questions
What type of property is this?
Office unit - A 10-year Commonwealth of Massachusetts lease began in 2025, with scheduled annual rent increases averaging 3.0%.
Where is this office unit located?
The property is located at 1 Westinghouse Plaza Building C Boston, MA.
What is the asking price?
The asking price for this property is $17,034,000.
What are key features of this property?
This property features: 33,850 square feet, including 21,872 square feet of office space and 11,978 square feet of secure interior parking; 100% leased to the Commonwealth of Massachusetts Department of Children & Families; 10‑year lease runs through May 2035; commenced May 27, 2025
