Flex Office
For Sale
Contact for pricing
385 Pleasant St, Watertown, MA 02472
Versatile flex/office space with a flexible layout and 15 parking spots, located near Watertown Square and the Charles River.
Property Size3,700 SF
Price / SF$0.01
Days on Market111
Property Features for 385 Pleasant St
General Information
Standard status
Active
Size
3,700 SF
Total Parking Spaces
15
Property subtype
Commercial
Building Details
Year Built
2022
Listing Agency:
Tucker Real Estate Advisors, Inc.
Listed By:
Dodge Tucker
(603) 828-1384
Source:
Lockandkeyre
Added: Jul 1
Changed: Oct 19
Last Checked: Oct 19 at 9:37AM
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 Tucker Real Estate Advisors, Inc.
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Investment Insights
Based on property information with market context.
This property offers 3,700 SF of versatile flex/office space designed for launching or expanding a business. The building features a flexible layout intended to accommodate a variety of business needs, making it suitable for users looking for adaptable interior space.
The property includes 15 convenient parking spots and is within walking distance of Watertown Square and surrounding residential areas. It also sits just across the street from the Charles River, providing direct proximity to waterfront views and outdoor scenery.
For occupancy planning, the asset presents as a combined flex/office configuration with on-site parking, supporting day-to-day business operations for a range of office-oriented uses.
The property includes 15 convenient parking spots and is within walking distance of Watertown Square and surrounding residential areas. It also sits just across the street from the Charles River, providing direct proximity to waterfront views and outdoor scenery.
For occupancy planning, the asset presents as a combined flex/office configuration with on-site parking, supporting day-to-day business operations for a range of office-oriented uses.
Key Highlights
- 3,700 SF versatile flex/office space with a flexible layout for a variety of business needs
- Built in 2022
- Includes 15 convenient parking spots
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,349
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,980
$367.0K
Cap Rate 7%
$262,129
$262.1K
Cap Rate 9%
$203,878
$203.9K
Market Conditions
NOI Build-Up for 3,700 SF
Gross rent
$30.2K $8.16/SF
− Vacancy
−$2.0K −$0.53/SF
EGI
$28.2K $7.63/SF
− OpEx
−$9.9K −$2.67/SF
NOI
$18.3K $4.96/SF
Area
Middlesex County, MA
Vacancy
6.50%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,980
Cap Rate 7%
$262,129
Cap Rate 9%
$203,878
Alternative Uses
Best Use
Office B
$1.68M
$1.47M – $1.96M
NOI $117,402 @ 7.0% cap · market cap 469,608.00%
Second Best
Industrial
$562.2K
$492.0K – $656.0K
NOI $39,357 @ 7.0% cap · market cap 157,428.00%
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,327 @ 7.0% cap · market cap 613,308.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,276
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- Better Life Food — 158 Adams St, Newton, MA 02458
- Elisa's Catering — 223 Adams St, Newton, MA 02458
- The Kiddush Specialist — 223 Adams St, Newton, MA 02458
- Miss Jeanies Catering — 498 Pleasant St, Watertown, MA 02472
- Fiouna Catering — 367-B, 367 California St, Newton, MA 02458
Frequently Asked Questions
What type of property is this?
Flex space - Versatile flex/office space with a flexible layout and 15 parking spots, located near Watertown Square and the Charles River.
Where is this flex space located?
The property is located at 385 Pleasant St Watertown, MA.
What are key features of this property?
This property features: 3,700 SF versatile flex/office space with a flexible layout for a variety of business needs; Built in 2022; Includes 15 convenient parking spots
