Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    60 Leonard St #B Belmont, MA 2478

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $55 SF/Yr

    Prime retail spaces available in revitalized Belmont Center building.

    Property size:
    6,618 SF
    Added:
    May 17, 2025
    Days on Market:
    335
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 60 Leonard St #B

    General Information

    Standard status
    Active
    Size
    6,618 SF

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Land and Sea Real Estate

    Listing agent Land and Sea Real Estate

    Listing office Land and Sea Real Estate, Inc.

    Listing date May 17, 2025

    Source Corcoran

    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 Land and Sea Real Estate, Inc.

    Overview

    Belmont Center Retail Opportunity

    Located in the heart of Belmont Center, 60 Leonard Street offers a retail opportunity in a walkable and high-traffic district. The 6,618 SF building, formerly a CVS, is being revitalized with a new anchor dental office and two prime storefront retail spaces available for lease. The property offers visibility, strong neighborhood demographics, and a community-driven retail environment. It is suitable for boutique retailers, wellness brands, or specialty food operators looking to join a repositioned destination in a vibrant town center.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    CVS Pharmacy Pharmacy MoneyGram Bank Coinhub Bitcoin ATM ... Atm New England Classic ... Real Estate Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Belmont
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.1757
    Latitude
    42.3976

    Nearby Similar for Lease

    • Contact for pricing

      Corner Retail/Office Space Available

      1100 sq ft retail/office space with basement storage.
      767 Belmont Street, Belmont, MA 02478
      View Details
    • Contact for pricing

      Retail/Office Space Available For Rent

      Retail or office space available for rent starting April 1st.
      697 Belmont Street, Belmont, MA 02478
      View Details
    • Contact for pricing

      Belmont Retail/Office Space Available

      Retail or office space available for rent starting April 1st.
      695-697 Belmont Street, Belmont, MA 02478
      View Details
    • Contact for pricing

      Office Retail Space For Rent

      Office retail space for rent in prime Belmont location.
      161 Belmont St #1, Belmont, MA 02478
      View Details
    • Contact for pricing

      Freestanding Restaurant with Drive-Thru

      Freestanding restaurant with drive-thru in downtown Belmont.
      Belmont, MA 02478
      View Details
    • Contact for pricing

      Professional Office Space For Rent

      Professional office space featuring reception and two private offices.
      68 Leonard St #207, Belmont, MA 02478
      View Details
    • Contact for pricing

      Daycare Space Available For Rent

      Daycare space with full basement, high visibility, high traffic.
      384 Trapelo, Belmont, MA 02478
      View Details
    • Contact for pricing

      Belmont Center Office Suite

      700 SF office suite in Belmont Center for rent.
      18 Moore St, Belmont, MA 02478
      View Details
    • Contact for pricing

      Prime Retail Space Available

      Versatile retail space in a high-visibility commercial location.
      275-285 Belmont St, Belmont, MA
      View Details
    • $55/mo

      Belmont Center Retail Opportunity

      Retail space available in high-traffic Belmont Center location.
      60 Leonard St #B, Belmont, MA 02478
      View Details
    • $1.00/mo

      Belmont Commercial Space for Lease

      Versatile commercial space suitable for retail or office use.
      285 Belmont #285A, Belmont, MA 02478
      View Details
    • Contact for pricing

      Live-Work-Play Community Retail Space

      Mixed-use community with retail and luxury residential units for rent.
      525 Common St, Belmont, MA
      View Details

    FAQs

    What type of property is this?
    Retail space - Prime retail spaces available in revitalized Belmont Center building.
    Where is this retail space located?
    The property is located at 60 Leonard St #B Belmont, MA.
    What is the lease rate?
    The lease rate is $55 SF/Yr.
    What are key features of this property?
    This property features: Prime location in the heart of Belmont Center, a walkable and high‑traffic district.; Exceptional visibility and strong neighborhood demographics.; 6,618 SF building formerly a CVS, now being revitalized.
    We can help!
    Listing Contact
    Land and Sea Real Estate
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!