Freestanding Brick
For Sale
$949,000
311 Main St, Watertown, MA 02472
Main-floor configuration includes two business or office areas, renovated bathrooms, and newer A/C.
Property Size1,915 SF
Days on Market145
Property Features for 311 Main St
General Information
Standard status
Active
Size
1,915 SF
Amenities
renovated bathrooms
newer A/C
Building Details
Building Size
1,915 SF
Year Built
1915
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty - Waltham
(617) 719-3405
Listed By:
Anthony Coppola · License #452508574
(617) 719-3405
Source:
Iverty
Added: Apr 10
Changed: Aug 29
Last Checked: Aug 31 at 2:51PM
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 Coldwell Banker Realty - Waltham
Investment Insights
Based on property information with market context.
This freestanding brick commercial building dates to 1915 and has a main floor arranged for two separate storefront business or office areas. The property includes 2 renovated bathrooms and newer A/C equipment, supporting continued commercial occupancy or reconfiguration within the existing layout. Zoning is LB.
The building is positioned on Main St near Watertown Sq in Watertown, Massachusetts, providing an established setting for storefront or office use. Its existing configuration combines street-facing commercial presentation with practical interior improvements.
The building is positioned on Main St near Watertown Sq in Watertown, Massachusetts, providing an established setting for storefront or office use. Its existing configuration combines street-facing commercial presentation with practical interior improvements.
Key Highlights
- Freestanding brick building constructed in 1915
- Main floor arranged as two storefront businesses/offices
- 2 renovated bathrooms
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
$60,764
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
6.40%
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%
$1,215,280
$1.2M
Cap Rate 7%
$868,057
$868.1K
Cap Rate 9%
$675,156
$675.2K
Market Conditions
NOI Build-Up for 1,915 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
$103.9K $54.24/SF
− Vacancy
−$22.9K −$11.93/SF
EGI
$81.0K $42.31/SF
− OpEx
−$20.3K −$10.58/SF
NOI
$60.8K $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%
$1,215,280
Cap Rate 7%
$868,057
Cap Rate 9%
$675,156
Alternative Uses
Best Use
Office B
$868.1K
$759.6K – $1.01M
NOI $60,764 @ 7.0% cap · market cap 6.40%
Second Best
Retail
$393.2K
$344.1K – $458.7K
NOI $27,524 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$1.13M
$992.0K – $1.32M
NOI $79,357 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,661
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02472, MA
35,392
Population
17,069
Households
2.1
Avg Household Size
39
Median Age
67%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
8,848
Density / Sq Mi
$123,383
Median Household Income
$77,537
Median Earnings
$2,356
Median Rent
$737,600
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?
Storefront property - Main-floor configuration includes two business or office areas, renovated bathrooms, and newer A/C.
Where is this storefront property located?
The property is located at 311 Main St Watertown, MA.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Freestanding brick building constructed in 1915; Main floor arranged as two storefront businesses/offices; 2 renovated bathrooms
