Freestanding Flex
New
For Sale
$3,795,000
305 2nd Avenue, Waltham, MA 02452
Wide-open commercial building with substantial on-site parking and access to major regional routes.
Property Size1,975 SF
Price / SF$474.38
Days on Market3
Property Features for 305 2nd Avenue
General Information
Standard status
Active
Size
1,975 SF
Total Parking Spaces
65
Property subtype
Commercial
Lease Term
Existing Lease Type: NNN
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
1,975 SF
Year Built
1975
Buildings
1
Listing Agency:
IVerty Realty, LLC
Listed By:
Mela Dieujuste
(413) 786-0584
Source:
Iverty
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 9 at 2:07PM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
This 8,000-square-foot freestanding flex building, constructed in 1975, features a wide-open interior layout and 65-car parking. The configuration is positioned for a range of industrial, medical, retail, and service uses, with the property also available for lease.
The building occupies the corner of 2nd Avenue and Bear Hill Road in Waltham, within an established commercial and lab corridor. Regional access includes I-95/Route 128, Route 2, and Route 20, while Main Street amenities are nearby. Surrounding businesses and institutions include Town Fair Tire, Pizzeria Uno, Genzyme Corp, Costco, Forum Pharmaceuticals, and Mass General West.
The building occupies the corner of 2nd Avenue and Bear Hill Road in Waltham, within an established commercial and lab corridor. Regional access includes I-95/Route 128, Route 2, and Route 20, while Main Street amenities are nearby. Surrounding businesses and institutions include Town Fair Tire, Pizzeria Uno, Genzyme Corp, Costco, Forum Pharmaceuticals, and Mass General West.
Key Highlights
- 8,000‑square‑foot freestanding flex building
- Wide‑open interior layout
- 65‑car parking
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
$114,983
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
3.03%
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%
$2,299,660
$2.3M
Cap Rate 7%
$1,642,614
$1.6M
Cap Rate 9%
$1,277,589
$1.3M
Market Conditions
NOI Build-Up for 8,000 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
$175.7K $21.96/SF
− Vacancy
−$11.4K −$1.43/SF
EGI
$164.3K $20.53/SF
− OpEx
−$49.3K −$6.16/SF
NOI
$115.0K $14.37/SF
Area
Middlesex County, MA
Vacancy
6.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
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%
$2,299,660
Cap Rate 7%
$1,642,614
Cap Rate 9%
$1,277,589
Alternative Uses
Best Use
Retail
$1.64M
$1.44M – $1.92M
NOI $114,983 @ 7.0% cap · market cap 3.03%
Second Best
Industrial
$1.22M
$1.06M – $1.42M
NOI $85,095 @ 7.0% cap · market cap 2.24%
Theoretical Best
Office A
$4.74M
$4.14M – $5.53M
NOI $331,518 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,097
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02452, MA
15,340
Population
5,838
Households
2.6
Avg Household Size
33
Median Age
54%
College-Educated
93%
High-School Grad
3.8 sq mi
ZIP Area
4,037
Density / Sq Mi
$112,902
Median Household Income
$41,351
Median Earnings
$2,325
Median Rent
$779,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Wide-open commercial building with substantial on-site parking and access to major regional routes.
Where is this flex space located?
The property is located at 305 2nd Avenue Waltham, MA.
What is the asking price?
The asking price for this property is $3,795,000.
What are key features of this property?
This property features: 8,000‑square‑foot freestanding flex building; Wide‑open interior layout; 65‑car parking
