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    Woburn Manufacturing/Lab/Office Space Title is generated by Realmo AI

    34 Commerce Way Unit L-M, Woburn, MA 01801

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    For Lease
    $28 SF/Yr $68,749/Mo (calc)

    29,464 SF of flexible medical manufacturing, lab, and office.

    Property size:
    29,464 SF
    Added:
    Jan 12, 2025
    Days on Market:
    510
    Last Refresh:
    Apr 14 at 5:09 pm

    Property Features for 34 Commerce Way Unit L-M

    General Information

    Standard status
    Active
    Size
    29,464 SF

    Building Details

    Year Built
    2023

    We can help!

    Listing Contact
    Ernest C. Wronka

    Listing office Wronka,Ltd. Commercial Real Estate Advisors

    Listing date Jan 12, 2025

    Source Colonialmanorrealty

    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 Wronka,Ltd. Commercial Real Estate Advisors

    HighLights

    • 29,464 sq ft of flexible space ideal for medical manufacturing, lab, and office use.
    • Previously occupied by Amgen, making it suitable for advanced R&D.
    • Benefit from substantial mechanical, electrical, and plumbing infrastructure, sealed loading area, and heavy power capacity.
    • High‑quality, contemporary office build‑out featuring private offices, conference rooms, workstations, kitchens, and restrooms.
    • Enjoy newly built or minimally used improvements throughout the office area.
    • Modern building design with abundant natural light and efficient floor plans.

    Overview

    Suite L-M offers approximately 29,464 square feet of flexible space suitable for medical manufacturing, lab, and support purposes, combined with a high-quality office build-out. The space is ideal for a headquarters or advanced R&D operation. Formerly occupied by Amgen, the suite features substantial mechanical, electrical, and plumbing infrastructure, a sealed loading area, and heavy power capacity. It is well-suited for tech-driven or production-intensive users. The office area includes a contemporary layout with private offices, multiple conference rooms, open workstations, two kitchens and break areas, and eight private restrooms, with many improvements, newly built, or minimally used. The building's modern design promotes both collaboration and privacy, featuring abundant natural light, LED lighting, and efficient floor plans. A lease extension is available directly with ownership through Wronka Ltd.
    Location Intelligence

    Current Use by Public Records

    Cytrellis Biosystems, Inc. Production Facility SamsLivExpress,LLC- Limousines and Airport ... Limousine Service EVPassport Charging Station Electric Vehicle Charging Station QSM Diagnostics Laboratory Active Surfaces Inc. Research And Product Development

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Spa & Massage Center Building Supply Auto Repair Shop Big Box & Wholesale Store Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Woburn
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.1326708
    Latitude
    42.508778

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    FAQs

    What type of property is this?
    Manufacturing property - 29,464 SF of flexible medical manufacturing, lab, and office.
    Where is this manufacturing property located?
    The property is located at 34 Commerce Way Unit L-M Woburn, MA.
    What is the lease rate?
    The lease rate is $28 SF/Yr.
    What are key features of this property?
    This property features: 29,464 sq ft of flexible space ideal for medical manufacturing, lab, and office use.; Previously occupied by Amgen, making it suitable for advanced R&D.; Benefit from substantial mechanical, electrical, and plumbing infrastructure, sealed loading area, and heavy power capacity.
    We can help!
    Listing Contact
    Ernest C. Wronka
    Learn More
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    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.

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