Belmont Mixed-Use Investment
For Sale
$995,000
113 Belmont, Belmont, MA 02478
1840 SF building with mixed-use potential in Belmont, MA.
Property Size1,840 SF
Price / SF$540.76
Days on Market223
Property Features for 113 Belmont
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Commercial
Building Details
Year Built
1970
Listing Agency:
Gibson CRE
(617) 908-6775
Listed By:
Albert Bouchie · License #9522540
Source:
Stevebremis
Added: Jan 2
Changed: Aug 8
Last Checked: Aug 8 at 6:54AM
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 Gibson CRE
Investment Insights
Based on property information with market context.
Located in Belmont, MA, this 1,840 square foot building offers an investment opportunity. Constructed in 1970, the property features 8 units. Zoned LB3, the property allows for a range of usage options, making it suitable for office or medical investment. The Mandatory Mixed-Use - Subdistrict 4 (MXDZ4) zoning also allows for a potential mixed-use reposition with commercial use on the first floor and residential on the upper floors. The property offers occupancy potential for a user owner and potential for value enhancement through development.
Key Highlights
- Prime investment opportunity in the heart of Belmont, MA.
- Zoned LB3, offering flexibility for office or medical investment.
- Mandatory Mixed‑Use - Subdistrict 4 (MXDZ4) (LB3 zoning) allows for potential mixed‑use repositioning.
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
$58,384
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
5.87%
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%
$1,167,680
$1.2M
Cap Rate 7%
$834,057
$834.1K
Cap Rate 9%
$648,711
$648.7K
Market Conditions
NOI Build-Up for 1,840 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
$99.8K $54.24/SF
− Vacancy
−$22.0K −$11.93/SF
EGI
$77.8K $42.31/SF
− OpEx
−$19.5K −$10.58/SF
NOI
$58.4K $31.73/SF
Area
Middlesex County, MA
Vacancy
22.00%
Lease Rate
$54.24 /SF/Yr
Expense Ratio
25.00%
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%
$1,167,680
Cap Rate 7%
$834,057
Cap Rate 9%
$648,711
Alternative Uses
Best Use
Office B
$834.1K
$729.8K – $973.1K
NOI $58,384 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$953.1K – $1.27M
NOI $76,249 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 02478, MA
27,286
Population
10,811
Households
2.5
Avg Household Size
42
Median Age
80%
College-Educated
98%
High-School Grad
4.6 sq mi
ZIP Area
5,932
Density / Sq Mi
$177,790
Median Household Income
$95,206
Median Earnings
$2,382
Median Rent
$1,108,800
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?
Office building - 1840 SF building with mixed-use potential in Belmont, MA.
Where is this office building located?
The property is located at 113 Belmont Belmont, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Prime investment opportunity in the heart of Belmont, MA.; Zoned LB3, offering flexibility for office or medical investment.; Mandatory Mixed‑Use - Subdistrict 4 (MXDZ4) (LB3 zoning) allows for potential mixed‑use repositioning.
