Multi-Tenant Flex Space
For Sale
$5,295,000
4 Preston Court, Bedford, MA 01730
Two-story flex space near Lexington's Hartwell Avenue.
Property Size24,751 SF
Price / SF$213.93
Days on Market160
Property Features for 4 Preston Court
General Information
Standard status
Active
Size
24,751 SF
Class
B
Property subtype
Industrial
Building Details
Building Size
24,751 SF
Year Built
1974
Listing Agency:
Mansard Commercial Properties
(617) 304-2902
Listed By:
Jeremy Cyrier, CCIM · License #MA #9048314
(617) 304-2902
Source:
Masscommercialproperties
Added: Mar 5
Changed: Aug 8
Last Checked: Aug 8 at 6:15AM
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 Mansard Commercial Properties
Investment Insights
Based on property information with market context.
This 24,751 +/- SF property is located in the IND-B section, near Hartwell Avenue in Lexington. The two-story building features multi-tenant flex space, suitable for office, R&D, lab, biotech, and light manufacturing uses. A 4,500 lb capacity passenger/freight elevator services both floors. The property is located on Preston Court, near lab, biotech, and service companies. Nearby neighbors include Thermo Fisher Scientific, Stoke, Diversified Technologies, Cubic PV, and UCB. The location benefits from a skilled talent pool, with 16,053 white-collar employees within a 3-mile radius. The property is near the Minuteman Bike Path and Hanscom Air Force Base, with access to Routes 3, 128, and 225. Nearby amenities include Wholefoods, Bruegger's, CVS, and Starbucks. There are 90 on-site surface parking spaces. It is a 35 minute drive to Boston. The property is surrounded by conservation land. It is zoned IND-B and presents a value-add or owner-user opportunity.
Key Highlights
- Strategic location in Lexington's IND‑B zone, ideal for office, R&D, lab, biotech, and light manufacturing.
- Proximity to a large skilled employee pool (16,053 white‑collar employees within a 3‑mile radius).
- Multi‑tenant flex space featuring a 4,500 lb capacity passenger/freight elevator.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$263,274
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,265,480
$5.3M
Cap Rate 7%
$3,761,057
$3.8M
Cap Rate 9%
$2,925,267
$2.9M
Market Conditions
NOI Build-Up for 24,751 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$398.0K $16.08/SF
− Vacancy
−$21.9K −$0.88/SF
EGI
$376.1K $15.20/SF
− OpEx
−$112.8K −$4.56/SF
NOI
$263.3K $10.64/SF
Area
Middlesex County, MA
Vacancy
5.50%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,265,480
Cap Rate 7%
$3,761,057
Cap Rate 9%
$2,925,267
Alternative Uses
Best Use
Office B
$11.22M
$9.82M – $13.09M
NOI $785,359 @ 7.0% cap · market cap 14.83%
Second Best
Industrial
$3.76M
$3.29M – $4.39M
NOI $263,274 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$14.65M
$12.82M – $17.09M
NOI $1,025,675 @ 7.0% cap · market cap 19.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01730, MA
14,566
Population
5,970
Households
2.4
Avg Household Size
45
Median Age
69%
College-Educated
96%
High-School Grad
12.4 sq mi
ZIP Area
1,175
Density / Sq Mi
$158,286
Median Household Income
$88,504
Median Earnings
$2,430
Median Rent
$878,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-story flex space near Lexington's Hartwell Avenue.
Where is this flex space located?
The property is located at 4 Preston Court Bedford, MA.
What is the asking price?
The asking price for this property is $5,295,000.
What are key features of this property?
This property features: Strategic location in Lexington's IND‑B zone, ideal for office, R&D, lab, biotech, and light manufacturing.; Proximity to a large skilled employee pool (16,053 white‑collar employees within a 3‑mile radius).; Multi‑tenant flex space featuring a 4,500 lb capacity passenger/freight elevator.
