Medical Office Condominium
For Sale
$1,150,000
955 Main St Unit 305, Winchester, MA 01890
One-floor, elevator-served medical office condo with exam rooms, conference space, and reception area plus on-site surface parking.
Property Size2,054 SF
Days on Market122
Property Features for 955 Main St Unit 305
General Information
Standard status
Active
Size
2,054 SF
Property subtype
Commercial
Additional Details
Furnished
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$10,441
Amenities
reception area
waiting area
exam rooms
conference room
staff workspace
kitchenette
restrooms
elevator
on-site parking
handicap-accessible entry
professionally managed
Building Details
Building Size
2,054 SF
Year Built
1980
Year Renovated
2026
Stories
3
Listing Agency:
Coldwell Banker Realty - Lexington
Listed By:
Zuby Singh
(781) 860-9111
Source:
Classifiedrealtygroup
Added: May 7
Changed: Sep 4
Last Checked: Sep 5 at 4:45AM
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 Coldwell Banker Realty - Lexington
Investment Insights
Based on property information with market context.
Bright medical and professional office condominium suite located on one floor within the Russell Hill Office Building. The unit features a large reception and waiting area, multiple exam-office rooms, and a large conference room, along with staff workspace and a kitchenette with an eat-in area. There are lots of closets and cabinets, with two restrooms including one full private in-suite bath and a half bath in the hallway. Four of the five exam rooms have sinks, and the suite is offered with furniture. The building is three stories and elevator-served, with on-site surface parking and a handicap-accessible entry.
The property offers convenient access to Winchester town center, Winchester Hospital, Route 38, and I-93 and I-95/128.
The unit was renovated in 2009, with one exam procedure room renovated in 2026. Zoning permits medical and professional office use by right, and the facility is professionally managed.
The property offers convenient access to Winchester town center, Winchester Hospital, Route 38, and I-93 and I-95/128.
The unit was renovated in 2009, with one exam procedure room renovated in 2026. Zoning permits medical and professional office use by right, and the facility is professionally managed.
Key Highlights
- Bright medical/professional office condominium on one floor in the Russell Hill Office Building
- Includes large reception and waiting area plus a large conference room and staff workspace
- 5 exam‑office rooms; 4 have sinks, plus kitchenette with eat‑in area and lots of closets and cabinets
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
$65,174
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
5.67%
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%
$1,303,480
$1.3M
Cap Rate 7%
$931,057
$931.1K
Cap Rate 9%
$724,156
$724.2K
Market Conditions
NOI Build-Up for 2,054 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
$111.4K $54.24/SF
− Vacancy
−$24.5K −$11.93/SF
EGI
$86.9K $42.31/SF
− OpEx
−$21.7K −$10.58/SF
NOI
$65.2K $31.73/SF
Area
Middlesex County, MA
Vacancy
22.00%
Lease Rate
$54.24 /SF/Yr
Expense Ratio
25.00%
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%
$1,303,480
Cap Rate 7%
$931,057
Cap Rate 9%
$724,156
Alternative Uses
Best Use
Office B
$931.1K
$814.7K – $1.09M
NOI $65,174 @ 7.0% cap · market cap 5.67%
Second Best
Healthcare Medical
$851.7K
$745.3K – $993.7K
NOI $59,621 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,117 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
815
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01890, MA
22,970
Population
8,283
Households
2.8
Avg Household Size
43
Median Age
78%
College-Educated
97%
High-School Grad
6.0 sq mi
ZIP Area
3,828
Density / Sq Mi
$218,176
Median Household Income
$107,083
Median Earnings
$2,271
Median Rent
$1,181,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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- Stephen W. Zanotti, VMD — 95 Cross St, Winchester, MA 01890
Frequently Asked Questions
What type of property is this?
Medical Office Space - One-floor, elevator-served medical office condo with exam rooms, conference space, and reception area plus on-site surface parking.
Where is this medical office space located?
The property is located at 955 Main St Unit 305 Winchester, MA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Bright medical/professional office condominium on one floor in the Russell Hill Office Building; Includes large reception and waiting area plus a large conference room and staff workspace; 5 exam‑office rooms; 4 have sinks, plus kitchenette with eat‑in area and lots of closets and cabinets
