Listing Agency: Gelineau & Associates, R.E. Show Phone

Listed By: Glenna Gelineau · License #449501018 Show Phone

Source: Exprealty

Added: Mar 9 Changed: Oct 2 Last Checked: Oct 16 at 10:24AM

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Investment Insights

Based on property information with market context.

This first-class medical office condominium, located at 20 Hope Avenue in Waltham, Massachusetts, is available for sale. The condo features elevator and handicap access. The layout includes one treatment room, four exam rooms, two restrooms, a waiting room, a conference room, a private office, and a generous waiting/reception area. The property offers an opportunity to own a medical office condo in a sought-after building with a rental history. The location is convenient, situated just off major highways in Waltham. The property size is 1,492 square feet.

Key Highlights

• First‑class medical office condominium suitable for sale or lease.
• Prime, convenient location just off major highways in Waltham.
• Fully equipped with treatment room, four exam rooms, two restrooms, waiting room, conference room, private office, and reception area.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$43,308

Cap Rate

9.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$866,160 $866.2K

Cap Rate 7%

$618,686 $618.7K

Cap Rate 9%

$481,200 $481.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,492 SF

Gross rent

$81.3K $54.48/SF

− Vacancy

−$9.1K −$6.10/SF

EGI

$72.2K $48.38/SF

− OpEx

−$28.9K −$19.35/SF

NOI

$43.3K $29.03/SF

Area

Middlesex County, MA

Vacancy

11.20%

Lease Rate

$54.48 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$866,160

Cap Rate 7%

$618,686

Cap Rate 9%

$481,200

Alternative Uses

Best Use

Office B

$676.3K

$591.8K – $789.0K (±1% cap)

NOI $47,342 @ 7.0% cap · market cap 9.88%

Second Best

Healthcare Medical

$618.7K

$541.4K – $721.8K (±1% cap)

NOI $43,308 @ 7.0% cap · market cap 9.04%

Theoretical Best

Office A

$883.3K

$772.9K – $1.03M (±1% cap)

NOI $61,828 @ 7.0% cap · market cap 12.91%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Medical Office Space

Suggested Use

Top Pick Veterinary Clinic (Bike/Boat/Book/etc) Store Butcher Tattoo & Piercing Shop Florist Travel Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,138

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 02453, MA

31,854

Population

13,163

Households

2.4

Avg Household Size

34

Median Age

59%

College-Educated

92%

High-School Grad

3.6 sq mi

ZIP Area

8,848

Density / Sq Mi

$114,029

Median Household Income

$58,036

Median Earnings

$2,063

Median Rent

$666,300

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Medical office condo with treatment and exam rooms for sale.

Where is this medical office space located?

The property is located at 207-20 Hope Ave Waltham, MA.

What is the asking price?

The asking price for this property is $479,000.

What are key features of this property?

This property features: First‑class medical office condominium suitable for sale or lease.; Prime, convenient location just off major highways in Waltham.; Fully equipped with treatment room, four exam rooms, two restrooms, waiting room, conference room, private office, and reception area.