Two-Building Flex Office
For Sale
$5,500,000
283-293 Second Avenue, Waltham, MA 02451
Combined purchase of two flex and office buildings, with the option to buy each property individually.
Property Size18,050 SF
Days on Market126
Property Features for 283-293 Second Avenue
General Information
Standard status
Active
Size
18,050 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1.00
Building Details
Building Size
18,050 SF
Year Built
1968
Listing Agency:
128 CRE
Listed By:
Jeremy Freid · License #9089542-RE-B
(617) 916-1028
Source:
Classifiedrealtygroup
Added: Jun 2
Changed: Sep 20
Last Checked: Oct 4 at 7:01AM
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 128 CRE
Investment Insights
Based on property information with market context.
This offering presents a combined sale of two separate buildings totaling 283–293 Second Avenue and 179 & 202 Bear Hill Road in Waltham, Massachusetts. The transaction is structured to allow a buyer to consider the portfolio together or pursue it as individual acquisition opportunities.
The first component, 283–293 Second Avenue, is also available for purchase on its own (MLS #73483110). The second component, 179 & 202 Bear Hill Road, may likewise be purchased individually, providing flexibility for investors and owner-users based on their preferred footprint and capital approach.
With flex space and office building options within the offering scope, this could appeal to tenants and buyers looking for versatile space that supports a range of business operations. The ability to acquire either building separately may also suit investors pursuing targeted leasing strategies or buyers looking to stage redevelopment and repositioning over time. Offers are due May 12, 2026, allowing a defined window for underwriting and final decision-making.
The first component, 283–293 Second Avenue, is also available for purchase on its own (MLS #73483110). The second component, 179 & 202 Bear Hill Road, may likewise be purchased individually, providing flexibility for investors and owner-users based on their preferred footprint and capital approach.
With flex space and office building options within the offering scope, this could appeal to tenants and buyers looking for versatile space that supports a range of business operations. The ability to acquire either building separately may also suit investors pursuing targeted leasing strategies or buyers looking to stage redevelopment and repositioning over time. Offers are due May 12, 2026, allowing a defined window for underwriting and final decision-making.
Key Highlights
- Combined sale of two flex and office buildings in Waltham, MA
- Buildings included: 283‑293 Second Ave and 179 & 202 Bear Hill Road
- 283‑293 Second Ave is available for individual purchase (MLS #73483110)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$191,996
Cap Rate
3.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,839,920
$3.8M
Cap Rate 7%
$2,742,800
$2.7M
Cap Rate 9%
$2,133,289
$2.1M
Market Conditions
NOI Build-Up for 18,050 SF
Gross rent
$290.2K $16.08/SF
− Vacancy
−$16.0K −$0.88/SF
EGI
$274.3K $15.20/SF
− OpEx
−$82.3K −$4.56/SF
NOI
$192.0K $10.64/SF
Area
Middlesex County, MA
Vacancy
5.50%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,839,920
Cap Rate 7%
$2,742,800
Cap Rate 9%
$2,133,289
Alternative Uses
Best Use
Industrial
$2.74M
$2.40M – $3.20M
NOI $191,996 @ 7.0% cap · market cap 3.49%
Second Best
Flex RnD
$1.28M
$1.12M – $1.49M
NOI $89,514 @ 7.0% cap · market cap 1.63%
Theoretical Best
Office A
$10.69M
$9.35M – $12.47M
NOI $747,987 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,097
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02451, MA
17,953
Population
7,852
Households
2.3
Avg Household Size
39
Median Age
55%
College-Educated
93%
High-School Grad
5.3 sq mi
ZIP Area
3,387
Density / Sq Mi
$119,509
Median Household Income
$66,318
Median Earnings
$2,537
Median Rent
$709,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Combined purchase of two flex and office buildings, with the option to buy each property individually.
Where is this flex space located?
The property is located at 283-293 Second Avenue Waltham, MA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Combined sale of two flex and office buildings in Waltham, MA; Buildings included: 283‑293 Second Ave and 179 & 202 Bear Hill Road; 283‑293 Second Ave is available for individual purchase (MLS #73483110)
