Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    986 Memorial Dr, Unit 404 Cambridge, MA 02138

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,395,000

    Classic Cambridge cooperative near Harvard Square with river views.

    Building Details

    Year built
    1916

    We can help!

    Listing Contact
    Abigail Clutz
    Source: Elliman

    Listing Agent: Abigail Clutz

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Cambridge Cooperative with Charles River Views

    Located on Memorial Drive in Cambridge, Unit 404 at 986 Memorial Drive is a cooperative apartment building. The unit features living and dining rooms with tall windows and built-ins. A private wing houses two bedrooms and a renovated bathroom. The seller has updated the space with central air conditioning and fresh paint. Recent building maintenance reflects attentive care. The property overlooks the Charles River and is located moments away from Harvard Square, bookstores, cafes, restaurants, and a university.
    Location Intelligence

    Current Use by Public Records

    Peter C. Aldrich Artist

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Cambridge
    County
    Suffolk
    State
    Massachusetts
    Longitude
    -71.125465
    Latitude
    42.3729066

    Nearby Similar for Sale

    • $2,500,000
      4,266 SF

      Cambridge Multifamily Development Opportunity

      Four-unit property with development potential in a prime Cambridge location.
      49-51A Clifton St, Cambridge, MA 02140
      View Details
    • $850,000
      Pending

      Cambridge Condominium with Balconies

      Condominium in good condition with two balconies and garage.
      16 Lee St Unit, Cambridge, MA 02139
      View Details
    • $1,695,000

      Cambridge Multi-Family House For Sale

      Unrenovated multi-family house in Huron Village, Cambridge.
      71-73 Reservoir St, Cambridge, MA 02138
      View Details
    • $4,500,000

      Renovated Multifamily Building in Cambridge

      Turnkey investment property with condo-quality upgrades in urban Cambridge.
      25-27 Marney St, Cambridge, MA 02141
      View Details
    • $5,300,000

      Cambridge Mixed-Use Investment Opportunity

      Fully leased 8-unit property with commercial space in Cambridge.
      294-302 Windsor St, Cambridge, MA 02139
      View Details
    • $3,000,000

      Cambridge Multifamily Investment Opportunity

      Six well-maintained apartments with value-add potential in a desirable location.
      25 6Th St, Cambridge, MA 02141
      View Details
    • $6,195,000

      Cambridge Eight-Unit Multifamily Investment Property

      Turnkey eight-unit property with excellent location and high rental income.
      2 Hingham St, Cambridge, MA 02138
      View Details
    • $2,350,000

      East Cambridge Townhouse-Style Two-Family

      Well-maintained two-family with garage and roof deck in Cambridge.
      36 Sciarappa St, Cambridge, MA 02141
      View Details
    • $2,150,000

      Cambridge Multifamily on Corner Lot

      Three-unit multifamily property in Cambridge's Riverside neighborhood, ideal for investors.
      1 Jay St, Cambridge, MA 02139
      View Details
    • $1,495,000

      Pre-War Cooperative with River Views

      Spacious 3-bedroom apartment in iconic Harvard Square building.
      984 Memorial Dr, Cambridge, MA 02138
      View Details
    • $2,985,000

      Cambridgeport Multi-Family Conversion Opportunity

      Three-family building on a corner lot near Central Square.
      174 Hamilton St, Cambridge, MA 02139
      View Details
    • $3,495,000

      Harvard Square Triple-Decker Apartment Building

      Updated triple-decker in Harvard Square generating over $219K annually.
      1657 Cambridge St, Cambridge, MA 02138
      View Details

    FAQs

    What type of property is this?
    Apartment building - Classic Cambridge cooperative near Harvard Square with river views.
    Where is this apartment building located?
    The property is located at 986 Memorial Dr, Unit 404 Cambridge, MA.
    What is the asking price?
    The asking price for this property is $1,395,000.
    What are key features of this property?
    This property features: - Prime location on the Charles River near Harvard Square.; - Recently updated with central air conditioning and renovated bathroom.; - Spacious front-to-back living and dining rooms with tall windows and built-ins.
    (781) 526-1523
    Request Owner's contact information
    986 Memorial Dr, Unit 404 Cambridge, MA 02138
    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.
    986 Memorial Dr, Unit 404
    Cambridge, MA 02138
    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
    986 Memorial Dr, Unit 404 Cambridge, MA 02138
    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

    We can help!
    Listing Contact
    Abigail Clutz
    (781) 526-1523
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.