Two-Building Mixed-Use Income
For Sale
$2,048,000
Pending
11-15 John St, Newton, MA 02459
Two connected buildings total 5,000+ sq ft with zoning split between MR1 and BU1 and about 18 off-street parking spaces.
Property Size6,047 SF
Days on Market178
Property Features for 11-15 John St
General Information
Standard status
Pending
Size
6,047 SF
Property subtype
2 Family - 2 Units Side by Side
Taxes and HOA fees
Annual Taxes
$25,000
Building Details
Building Size
6,047 SF
Year Built
1940
Listing Agency:
Centre Realty Group
Listed By:
John Saleh · License #9503072
(617) 332-0077
Source:
Rutledgeproperties
Added: Mar 11
Changed: Aug 8
Last Checked: Jul 23 at 5:42AM
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 Centre Realty Group
Investment Insights
Based on property information with market context.
This two-building property features connected structures totaling 5,000+ square feet, with additional space not included in the stated total: a walkout lower level on the commercial side and a basement on the residential side. The zoning line runs through the parcel, with approximately half designated MR1 (multi-residential) and the other half designated BU1 (business), creating flexibility for redevelopment or mixed-use planning. The city has no demolition delay, allowing new plans to move forward immediately.
The site is located on John Street just off Route 9. It is steps from The Street at Chestnut Hill and directly across from the Atrium office development. Nearby, Chestnut Hill Square includes Wegmans, and The Mall at Chestnut Hill is within walking distance.
The property also includes approximately 18 off-street parking spaces, with potential for additional parking on site.
The site is located on John Street just off Route 9. It is steps from The Street at Chestnut Hill and directly across from the Atrium office development. Nearby, Chestnut Hill Square includes Wegmans, and The Mall at Chestnut Hill is within walking distance.
The property also includes approximately 18 off-street parking spaces, with potential for additional parking on site.
Key Highlights
- Two connected buildings totaling 5,000+ sq ft (not including the walkout lower level on the commercial side and the basement on the residential side)
- Zoning split on the same parcel: approximately half MR1 (multi‑residential) and half BU1 (business)
- Approximately 18 off‑street parking spaces, with potential for more
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$127,957
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,559,140
$2.6M
Cap Rate 7%
$1,827,957
$1.8M
Cap Rate 9%
$1,421,744
$1.4M
Market Conditions
NOI Build-Up for 6,047 SF
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.
Gross rent
$192.3K $31.80/SF
− Vacancy
−$9.5K −$1.57/SF
EGI
$182.8K $30.23/SF
− OpEx
−$54.8K −$9.07/SF
NOI
$128.0K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,559,140
Cap Rate 7%
$1,827,957
Cap Rate 9%
$1,421,744
Alternative Uses
Best Use
Multifamily LT 5
$1.83M
$1.60M – $2.13M
NOI $127,957 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$1.72M
$1.50M – $2.01M
NOI $120,315 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$3.58M
$3.13M – $4.18M
NOI $250,586 @ 7.0% cap · market cap 12.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
711
Businesses Nearby
Explore this area
Business Placement
Demographics for 02459, MA
19,017
Population
6,828
Households
2.8
Avg Household Size
44
Median Age
84%
College-Educated
98%
High-School Grad
5.0 sq mi
ZIP Area
3,803
Density / Sq Mi
$214,941
Median Household Income
$87,409
Median Earnings
$2,308
Median Rent
$1,336,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two connected buildings total 5,000+ sq ft with zoning split between MR1 and BU1 and about 18 off-street parking spaces.
Where is this duplex located?
The property is located at 11-15 John St Newton, MA.
What is the asking price?
The asking price for this property is $2,048,000.
What are key features of this property?
This property features: Two connected buildings totaling 5,000+ sq ft (not including the walkout lower level on the commercial side and the basement on the residential side); Zoning split on the same parcel: approximately half MR1 (multi‑residential) and half BU1 (business); Approximately 18 off‑street parking spaces, with potential for more
