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    Free-Standing Educational Facility with Parking Title is generated by Realmo AI

    21 Notre Dame Avenue, Cambridge, MA 02140

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    Large multi-story campus building with dedicated outdoor play area and 50+ on-site spaces for school or institutional use.

    Type:Schools/Education
    Property size:
    33,460 SF
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 2:14 am

    Property Features for 21 Notre Dame Avenue

    General Information

    Standard status
    Active
    Size
    33,460 SF
    Property subtype
    Schools/Education

    Building Details

    Year Built
    1875

    Spaces For Lease

    at 21 Notre Dame Avenue Contact us

    We can help!

    Listing Contact
    Jeremy Cyrier

    Listing agent Jeremy Cyrier

    Listing office MANSARD

    Listing date Jun 3, 2026

    Source Thebrokerlist

    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 MANSARD

    HighLights

    • 33,460 SF free‑standing, multi‑story educational facility
    • Zoned C for educational and institutional uses
    • Up to 50+/- on‑site surface parking spaces plus dedicated outdoor playground/recreation area
    • Building includes high‑ceiling classroom configurations, wide corridors, administrative offices
    • Currently “as‑is” (non‑sprinklered, limited‑ADA compliant); landlord may consider TI for ADA and sprinkler upgrades
    • Immediately accessible to Route 2 and Alewife Brook Parkway; walkable to MBTA Red Line (Alewife and Davis Square stations)

    Overview

    This free-standing, multi-story educational building totals 33,460 SF and is laid out for traditional classroom use. The interior features high-ceiling classrooms, wide corridors, administrative offices, and a dedicated outdoor play and recreation area. The property is currently offered in “as-is” condition and is described as non-sprinklered with limited-ADA compliance.

    The site includes approximately 50 +/- on-site surface parking spaces, supporting faculty and staff parking and student drop-off/pick-up logistics. The property is located in North Cambridge with immediate access to major thoroughfares including Route 2 and Alewife Brook Parkway. It is also walkable to the MBTA Red Line, with Alewife and Davis Square stations within the stated area.

    The building is zoned C and is intended to accommodate educational and institutional uses. Ownership is seeking a long-term, credit-grade single user and is flexible on structuring the transaction to support required life-safety and accessibility upgrades. For a qualified tenant on a long-term lease, the landlord will consider an amortizing Tenant Improvement allowance to fund ADA upgrades, including ramp/elevator installation, along with sprinkler systems. Alternatively, ownership may offer below-market base rent for an institutional user willing to fund the necessary capital improvements. Potential uses include public school swing space, charter or private school campuses, a special education collaborative, or an institutional training facility.
    Location Intelligence

    Current Use by Public Records

    Benjamin Banneker Charter ... High School

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Cambridge
    County
    Suffolk
    State
    Massachusetts
    Longitude
    -71.1317154
    Latitude
    42.3919153

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    FAQs

    What type of property is this?
    School - Large multi-story campus building with dedicated outdoor play area and 50+ on-site spaces for school or institutional use.
    Where is this school located?
    The property is located at 21 Notre Dame Avenue Cambridge, MA.
    What are key features of this property?
    This property features: 33,460 SF free‑standing, multi‑story educational facility; Zoned C for educational and institutional uses; Up to 50+/- on‑site surface parking spaces plus dedicated outdoor playground/recreation area
    (617) 674-2203
    We can help!
    Listing Contact
    Jeremy Cyrier
    Learn More
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    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.

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