Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1359 Centre St Newton, MA 02459

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Two-room office space with parking near Newton Center.

    Property Features for 1359 Centre St

    General Information

    Standard status
    Active

    Building Details

    Year built
    1959

    We can help!

    Listing Contact
    John Nachtwey
    Source: Corcoran

    Listing Agency: CRG Commercial Listing Agent: John Nachtwey

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

    Learn more

    Overview

    Small Office with Parking Space

    This two-room office is located in a small, unobtrusive office building and is suitable for most small businesses desiring a small, intimate setting. The location provides convenient access to Newton Center's transit options, restaurants, and shops. The office benefits from ample sunlight due to its southeast exposure. Rent is all-inclusive and includes a parking space, with immediate occupancy available.
    Location Intelligence

    Current Use by Public Records

    Bercury Insurance Agency Insurance Agency Anchor Insurance Group Insurance Agency Chandler Hoover & Giles ... Insurance Agency New England Commercial ... Insurance Agency Sarah A. Feigon, Ph.D Physician

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.1969979
    Latitude
    42.3277059

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      Newton

      Flexible workspace in Newton
      275 Grove St, Newton, MA 02466
      View Details
    • Contact for pricing

      Retail Space Near Trader Joe’s

      Retail space available in Newton, MA near Trader Joe’s.
      165 Needham St, Newton, MA 02464
      View Details
    • $3,900 /Mo

      Renovated Office Suites in Newton

      Spacious, bright office suites for lease in Newton Centre.
      15 Cypress St, Newton, MA 02459
      View Details
    • Contact for pricing

      Retail Spaces in Newton Corner

      Multiple retail spaces for lease in Newton, Massachusetts.
      275 Washington St, Newton, MA 02458
      View Details
    • Contact for pricing

      Newton Retail Space For Rent

      Retail space available in Newton, co-tenants include Trader Joe’s.
      153 Needham St, Newton, MA 02461
      View Details
    • Contact for pricing

      Office Space in Wells Park

      Office space available in the Wells Park office hub.
      7-57 Wells Ave, Newton, MA 02459
      View Details
    • Contact for pricing
      2,447 SF

      Former Bank Branch with Drive-Thru

      Freestanding retail property in Newton Highlands, accessible to public transit.
      1156 Walnut St, Newton, MA 02461
      View Details
    • Contact for pricing

      Wells Park Office Sublease Opportunity

      Sublease opportunity in Wells Park, Newton, featuring 6,070 SF office space.
      75 Wells Ave, Newton, MA 02459
      View Details
    • $46 SF/Yr
      800 SF

      Prime Retail Space on Walnut

      Retail space on Walnut Street, Newtonville, with parking.
      324-326 Walnut St, Newtonville, MA 02460
      View Details
    • $995 /Mo

      Professional Office Space in Newton

      Individual and combined office suites available for rent.
      1075 Washington St, Newton, MA 02465
      View Details
    • Contact for pricing
      4,013 SF

      Retail/Office Space on Walnut Street

      4,013 SF retail or office space with parking.
      330 Walnut St, Newton, MA 02460
      View Details
    • Contact for pricing
      2,200 SF

      Retail/Office Space in Newton, MA

      High-visibility retail and office space near I-90 and local amenities.
      606-612 Washington St, Newton, MA 02458
      View Details

    FAQs

    What type of property is this?
    Office units - Two-room office space with parking near Newton Center.
    Where is this office units located?
    The property is located at 1359 Centre St Newton, MA.
    What are key features of this property?
    This property features: - All-inclusive rent simplifies budgeting.; - Includes a dedicated parking space.; - Immediate occupancy available.
    (617) 393-4200
    Request Owner's contact information
    1359 Centre St Newton, MA 02459
    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.
    1359 Centre St
    Newton, MA 02459
    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
    1359 Centre St Newton, MA 02459
    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
    John Nachtwey
    (617) 393-4200 (617) 719-2026
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!