Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Restaurant Space with Outdoor Area Title is generated by Realmo AI

    1-5 Bennett St, Cambridge, MA

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    6,409 SF former restaurant with patio and outdoor bar.

    Type:OFFICE
    Property size:
    6,409 SF
    Lot size:
    2.73 Acres
    Added:
    Apr 15, 2024
    Days on Market:
    783
    Last Refresh:
    May 20 at 9:17 pm

    Property Features for 1-5 Bennett St

    General Information

    Standard status
    Active
    Size
    6,409 SF
    Lot size
    2.73 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 1-5 Bennett St Contact us

    We can help!

    Listing Contact
    Peter Bekarian

    Listing agent Peter Bekarian

    Listing office JLL | Boston

    Listing date Apr 15, 2024

    Source Moodyscre

    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 JLL | Boston

    HighLights

    • 6,409 SF former restaurant space with patio
    • Includes additional outdoor area, the “Forecourt Bar”
    • Located in recently renovated hotel with full lobby and courtyard
    • 600‑car parking garage available
    • Join successful food & beverage concepts: Henrietta’s Table, Bar Enza, and Noir
    • Available now

    Overview

    A 6,409 square foot former restaurant space is available for rent. The property includes a patio and an additional outdoor area referred to as the "Forecourt Bar." The space is located within a recently renovated hotel, which features a full lobby and courtyard. A 600-car parking garage is available for guests and daily visitors. The property is located near established food and beverage concepts including Henrietta’s Table, Bar Enza, and Noir. The property is suitable for restaurant, retail, and bar use.
    Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Similar Places Nearby

    • The Coast Cafe — 233 River St, Cambridge, MA 02139
    • ariadneclifton — 16 Parker St, Cambridge, MA 02138
    • Ben & Jerry’s — 35 John F. Kennedy St, Cambridge, MA 02138
    • The Pull-Up — 1 Oxford St, Cambridge, MA 02138
    • Goode Catering Co. — 10 Farwell Pl, Cambridge, MA 02138

    Location Insight

    • Map
    • Local Demand
    City
    Cambridge
    County
    Suffolk
    State
    Massachusetts
    Longitude
    -71.1225
    Latitude
    42.372

    Nearby Similar for Lease

    • $48 SF/Yr
      6,846 SF

      Cambridge Office Space with River Views

      Renovated office space with Charles River views and easy access.
      810 Memorial Dr, Cambridge, MA 02139
      View Details
    • $48 SF/Yr
      2,442 SF

      Cambridge Office Space Available

      Renovated office space with river views and convenient amenities.
      810 Memorial Dr, Cambridge, MA 02139
      View Details
    • $48 SF/Yr
      443 SF

      Cambridge Office Space For Lease

      Renovated office spaces with amenities near universities and public transportation.
      810 Memorial Dr, Cambridge, MA 02139
      View Details
    • $45 SF/Yr
      2,080 SF

      Cambridge Office Space for Rent

      Modern office space near Alewife T station with flexible layout.
      185 Alewife Brook Pkwy, Cambridge, MA 02138
      View Details
    • $45 SF/Yr
      1,500 SF

      Cambridge Office Suite Near Transit

      Office space with natural light, near Central Square T.
      552 Massachusetts Ave, Cambridge, MA 02139
      View Details
    • $45 SF/Yr
      1,250 SF

      Cambridge Office Suite Near Transit

      1,250 SF office suite near Central Square T.
      552 Massachusetts Ave, Cambridge, MA 02139
      View Details
    • $45 SF/Yr
      2,100 SF

      Cambridge Studio Space For Rent

      Ready built-out studio near Central Square T station.
      552 Massachusetts Ave, Cambridge, MA 02139
      View Details
    • $40 SF/Yr
      850 SF

      Cambridge Office Space For Rent

      Office space with on-site parking and convenient public transportation.
      545 Concord Ave, Cambridge, MA 02138
      View Details
    • $39 SF/Yr
      5,170 SF

      Cambridge Commercial Space For Lease

      Office space available in Cambridge, suitable for various businesses.
      2-6 University Road, Cambridge, MA 02138
      View Details
    • $39 SF/Yr
      2,931 SF

      Cambridge Office Space for Lease

      Office space with private entrance and signage opportunities in Cambridge.
      2 University Road, Cambridge, MA 02138
      View Details
    • $1,692/Mo
      655 SF

      Shared Office Space in Cambridge

      Shared office space with parking near public transportation and amenities.
      545 Concord Ave, Cambridge, MA 02138
      View Details
    • $25 SF/Yr
      3,000 SF

      Cambridge Office Suite For Lease

      3,000 sq ft office suite near public transportation.
      26 New St, Cambridge, MA 02138
      View Details

    FAQs

    What type of property is this?
    Restaurant - 6,409 SF former restaurant with patio and outdoor bar.
    Where is this restaurant located?
    The property is located at 1-5 Bennett St Cambridge, MA.
    What are key features of this property?
    This property features: 6,409 SF former restaurant space with patio; Includes additional outdoor area, the “Forecourt Bar”; Located in recently renovated hotel with full lobby and courtyard
    (617) 512-8787 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Peter Bekarian
    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

    Thank You for Inquiry
    1-5 Bennett St, Cambridge, MA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!