Building Details

Year Built 1910

Buildings 1

Listing Agency: Coldwell Banker Realty - Newton

Listed By: Shari Sklar Jacobson Show Phone

Source: Arrisrealty

Added: Nov 27, 2025 Changed: Oct 1 Last Checked: Oct 19 at 6:59AM

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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 Coldwell Banker Realty - Newton

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Investment Insights

Based on property information with market context.

This freestanding flex property offers an adaptable commercial layout with private offices, conference rooms, a reception area, and separate entrances. The building includes a fully equipped kitchen with a dedicated dining area, four half baths, and a 48' x 48' drive-in studio space. On-site parking accommodates 10+ vehicles, and the property is zoned G20. Built in 1910, the building provides a combination of office, studio, and shared amenity areas within one commercial asset.

The property is located at 115 Dummer St in Brookline, one block from Commonwe Ave and near BU. Public transportation, shops, and restaurants are nearby, with access to Fenway, Back Bay, I-90 (Mass Pike), and Storrow Drive.

Key Highlights

• 48' x 48' drive‑in studio space
• 10+ on‑site parking spaces
• G20 zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$410,327

Cap Rate

4.61%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,206,540 $8.2M

Cap Rate 7%

$5,861,814 $5.9M

Cap Rate 9%

$4,559,189 $4.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 18,699 SF

Gross rent

$655.2K $35.04/SF

− Vacancy

−$108.1K −$5.78/SF

EGI

$547.1K $29.26/SF

− OpEx

−$136.8K −$7.31/SF

NOI

$410.3K $21.94/SF

Area

Norfolk County, MA

Vacancy

16.50%

Lease Rate

$35.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,206,540

Cap Rate 7%

$5,861,814

Cap Rate 9%

$4,559,189

Alternative Uses

Best Use

Office B

$5.86M

$5.13M – $6.84M (±1% cap)

NOI $410,327 @ 7.0% cap · market cap 4.61%

Second Best

Flex RnD

$4.58M

$4.01M – $5.35M (±1% cap)

NOI $320,875 @ 7.0% cap · market cap 3.61%

Theoretical Best

Office A

$11.07M

$9.69M – $12.91M (±1% cap)

NOI $774,882 @ 7.0% cap · market cap 8.71%

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

Property Analytics

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Current Use

Video Transfer IT Consulting Firm National Boston Film Production Lo Conte 2 ... Art Gallery Rumblestrip Audio Newspaper & Magazine

Suggested Use

Top Pick Big Box & Wholesale Store Accounting Firm HVAC Service Carpet & Flooring Store (Bike/Boat/Book/etc) Store Furniture & Home Goods

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

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

2,731

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 02446, MA

31,957

Population

15,298

Households

2.1

Avg Household Size

34

Median Age

85%

College-Educated

97%

High-School Grad

1.3 sq mi

ZIP Area

24,582

Density / Sq Mi

$127,519

Median Household Income

$73,950

Median Earnings

$2,757

Median Rent

$1,172,800

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

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Frequently Asked Questions

What type of property is this?

Flex space - Open-plan commercial property with private offices, conference rooms, a kitchen, and separate entrances.

Where is this flex space located?

The property is located at 115 Dummer St Brookline, MA.

What is the asking price?

The asking price for this property is $8,900,000.

What are key features of this property?

This property features: 48' x 48' drive‑in studio space; 10+ on‑site parking spaces; G20 zoning