Medical Office Condo with Exam
For Sale
Contact for pricing
20 Pondmeadow Dr, Reading, MA 01867
First-floor medical office condominium with treatment rooms, private offices, reception, and patient waiting areas.
Property Size1,666 SF
Price / SF$390.16
Days on Market159
Property Features for 20 Pondmeadow Dr
General Information
Standard status
Active
Size
1,666 SF
Property subtype
Office
Zoning
Industrial
Additional Details
Floor
First floor
Office Units
1
Building Details
Year Built
1993
Buildings
1
Stories
2
Units
1
Listing Agency:
Carbone Commercial Real Estate, Inc.
(781) 935-5444
Listed By:
Edward Carbone · License #9015680
Source:
Crexi
Added: Mar 25
Changed: Aug 29
Last Checked: Aug 29 at 8:40PM
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 Carbone Commercial Real Estate, Inc.
Investment Insights
Based on property information with market context.
This first-floor medical office condominium contains 1,666 square feet within a 1993 building. The layout includes three exam rooms equipped with sinks, two private offices, an open area, reception space, and a dedicated waiting room. An HC restroom is also provided.
The property is located at 20 Pondmeadow Dr in Reading, Massachusetts, with Industrial zoning. The existing configuration is designed around medical office functions and combines patient-facing areas with enclosed workspaces and treatment rooms.
The property is located at 20 Pondmeadow Dr in Reading, Massachusetts, with Industrial zoning. The existing configuration is designed around medical office functions and combines patient-facing areas with enclosed workspaces and treatment rooms.
Key Highlights
- 1,666‑square‑foot medical office condominium
- First‑floor unit in a 1993 building
- Three exam rooms, each with a sink
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
$52,863
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
8.13%
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%
$1,057,260
$1.1M
Cap Rate 7%
$755,186
$755.2K
Cap Rate 9%
$587,367
$587.4K
Market Conditions
NOI Build-Up for 1,666 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
$90.4K $54.24/SF
− Vacancy
−$19.9K −$11.93/SF
EGI
$70.5K $42.31/SF
− OpEx
−$17.6K −$10.58/SF
NOI
$52.9K $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%
$1,057,260
Cap Rate 7%
$755,186
Cap Rate 9%
$587,367
Alternative Uses
Best Use
Office B
$755.2K
$660.8K – $881.1K
NOI $52,863 @ 7.0% cap · market cap 8.13%
Second Best
Healthcare Medical
$690.8K
$604.5K – $806.0K
NOI $48,359 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$986.3K
$863.0K – $1.15M
NOI $69,039 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,319
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01867, MA
25,522
Population
9,895
Households
2.6
Avg Household Size
43
Median Age
65%
College-Educated
96%
High-School Grad
10.0 sq mi
ZIP Area
2,552
Density / Sq Mi
$163,407
Median Household Income
$85,600
Median Earnings
$1,722
Median Rent
$741,100
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?
Medical Office Space - First-floor medical office condominium with treatment rooms, private offices, reception, and patient waiting areas.
Where is this medical office space located?
The property is located at 20 Pondmeadow Dr Reading, MA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1,666‑square‑foot medical office condominium; First‑floor unit in a 1993 building; Three exam rooms, each with a sink
