Flex Space with Office and
New
For Sale
$3,500,000
175 Mystic Ave, Medford, MA 02155
Two concrete block buildings provide adaptable commercial space with office and garage areas.
Property Size5,847 SF
Lot Size0.46 Acres
Price / SF$598.60
Days on Market7
Property Features for 175 Mystic Ave
General Information
Standard status
Active
Size
5,847 SF
Lot size
0.46 Acres
Property subtype
Commercial
Zoning
MX-2
Site & Location
Road Frontage
190 ft
Road Access
Yes
Additional Details
Clear Height
14 ft
Taxes and HOA fees
Annual Taxes
$26,596
Building Details
Year Built
1928
Buildings
2
Construction
Concrete block
Listing Agency:
Barnard Real Estate Advisors, LLC
(413) 333-7776
Listed By:
Christopher L. Barnard
Source:
Ma-cthomes
Added: Aug 14
Changed: Aug 19
Last Checked: Aug 20 at 4:04AM
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 Barnard Real Estate Advisors, LLC
Investment Insights
Based on property information with market context.
This flex space property includes two concrete block buildings containing office and garage areas. Clear heights range from 10 to 14 feet, supporting varied commercial, industrial, and flex configurations. The buildings were constructed in 1928 and are occupied by tenants operating under Tenant-at-Will agreements.
The site is positioned along Mystic Avenue in Medford’s Mystic Avenue Corridor, with approximately 190 feet of street frontage. It is located within the MX-2 subdistrict, where the source information identifies multifamily and mixed-use development as permitted by right. The property combines existing improvements, current occupancy, and a zoning framework that supports multiple commercial and redevelopment directions.
The site is positioned along Mystic Avenue in Medford’s Mystic Avenue Corridor, with approximately 190 feet of street frontage. It is located within the MX-2 subdistrict, where the source information identifies multifamily and mixed-use development as permitted by right. The property combines existing improvements, current occupancy, and a zoning framework that supports multiple commercial and redevelopment directions.
Key Highlights
- Two concrete block buildings with office and garage space
- Clear heights ranging from 10' to 14'
- Approximately 190 feet of street frontage
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
$185,528
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
5.30%
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%
$3,710,560
$3.7M
Cap Rate 7%
$2,650,400
$2.7M
Cap Rate 9%
$2,061,422
$2.1M
Market Conditions
NOI Build-Up for 5,847 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
$317.1K $54.24/SF
− Vacancy
−$69.8K −$11.93/SF
EGI
$247.4K $42.31/SF
− OpEx
−$61.8K −$10.58/SF
NOI
$185.5K $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%
$3,710,560
Cap Rate 7%
$2,650,400
Cap Rate 9%
$2,061,422
Alternative Uses
Best Use
Office B
$2.65M
$2.32M – $3.09M
NOI $185,528 @ 7.0% cap · market cap 5.30%
Second Best
Industrial
$888.5K
$777.4K – $1.04M
NOI $62,194 @ 7.0% cap · market cap 1.78%
Theoretical Best
Office A
$3.46M
$3.03M – $4.04M
NOI $242,298 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,179
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02155, MA
61,483
Population
25,893
Households
2.4
Avg Household Size
36
Median Age
58%
College-Educated
93%
High-School Grad
8.2 sq mi
ZIP Area
7,498
Density / Sq Mi
$118,403
Median Household Income
$60,825
Median Earnings
$2,483
Median Rent
$715,500
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 concrete block buildings provide adaptable commercial space with office and garage areas.
Where is this flex space located?
The property is located at 175 Mystic Ave Medford, MA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Two concrete block buildings with office and garage space; Clear heights ranging from 10' to 14'; Approximately 190 feet of street frontage
