Building Details

Year Built 2026

Tenancy Single

Listing Agency: Conviser Property Group Show Phone

Listed By: Jim Conviser Show Phone

Source: Moodyscre

Added: Oct 23 Changed: Oct 26 Last Checked: Oct 30 at 5:55PM

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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 Conviser Property Group

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 1,386-square-foot medical office condominium was completed in 2026 and is leased to Newton Eye Care on a 10-year term. The tenant has one dedicated parking space and has served the surrounding area for more than 17 years.

The property sits at Walnut and Lincoln Streets in Newton Highlands, a walkable village with an MBTA Green Line stop. Nearby retail and dining options include O’Hara’s Food and Spirits, Anna’s Taqueria, Lakon Paris Patisserie, and Rox Diner.

Key Highlights

• 1,386‑square‑foot medical office condominium
• Leased to Newton Eye Care for a 10‑year term
• Building completed in 2026

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$43,978

Cap Rate

4.63%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$879,560 $879.6K

Cap Rate 7%

$628,257 $628.3K

Cap Rate 9%

$488,644 $488.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,386 SF

Gross rent

$75.2K $54.24/SF

− Vacancy

−$16.5K −$11.93/SF

EGI

$58.6K $42.31/SF

− OpEx

−$14.7K −$10.58/SF

NOI

$44.0K $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 Rate 5%

$879,560

Cap Rate 7%

$628,257

Cap Rate 9%

$488,644

Alternative Uses

Best Use

Office B

$628.3K

$549.7K – $733.0K (±1% cap)

NOI $43,978 @ 7.0% cap · market cap 4.63%

Second Best

Healthcare Medical

$574.7K

$502.9K – $670.5K (±1% cap)

NOI $40,231 @ 7.0% cap · market cap 4.23%

Theoretical Best

Office A

$820.5K

$717.9K – $957.3K (±1% cap)

NOI $57,435 @ 7.0% cap · market cap 6.05%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Food Market Grocery & Convenience Store Carpet & Flooring Store Auto Parts Store Locksmith Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Office units

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

980

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 02461, MA

7,430

Population

2,785

Households

2.7

Avg Household Size

44

Median Age

88%

College-Educated

97%

High-School Grad

1.5 sq mi

ZIP Area

4,953

Density / Sq Mi

$207,292

Median Household Income

$101,850

Median Earnings

$3,026

Median Rent

$1,154,500

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Similar Off Market Nearby

• Coast to Coast Cardiology — 2 1st Ave Ste 126, Peabody, MA 01960
• Veterinary Emergency Group — 165 Needham St, Newton, MA 02464
• Coast to Coast Cardiology — 165 Needham St suite n309, Newton, MA 02464
• Banfield Pet Hospital — 180 Needham St, Newton, MA 02464
• BANFIELD — 56 Winchester St, Newton, MA 02461

Frequently Asked Questions

What type of property is this?

Medical Office Space - Newton Eye Care occupies the space under a long-term lease.

Where is this medical office space located?

The property is located at 1149-1151 Walnut St Newton Highlands, MA.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: 1,386‑square‑foot medical office condominium; Leased to Newton Eye Care for a 10‑year term; Building completed in 2026