Office Unit with Shared Waiting
399 Chestnut St, Needham, MA 02492
For Sale
New
Contact for pricing
Gas and electric service are included with this second-floor workspace.
Property Size173 SF
Price / SF$4.48
Days on Market5
Property Features for 399 Chestnut St
General Information
Standard status
Size
Additional Details
Floor
Utilities to Site
Office Units
Property Use
Amenities
shared waiting room
Building Details
Year Built
Listing Agency:
Louise Condon Realty
(781) 449-6292
Listed By:
Pamela Condon
(781) 248-6293
Source:
Lockandkeyre
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 4:41PM
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 Louise Condon Realty
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Investment Insights
Based on property information with market context.
This 173-square-foot office is on the second floor at 399 Chestnut St in Needham. The single office measures 14 feet 5 inches by 12 feet and has access to a shared waiting area. Gas and electric utilities are included.
Key Highlights
- 173‑square‑foot office on the second floor
- Single office measuring 14'5" x 12'
- Shared waiting area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,101
Suggested Prices Based on Cap Rates
Cap Rate 5%
$102,020
$102.0K
Cap Rate 7%
$72,871
$72.9K
Cap Rate 9%
$56,678
$56.7K
Market Conditions
NOI Build-Up for 173 SF
Gross rent
$8.7K $50.40/SF
− Vacancy
−$1.9K −$11.09/SF
EGI
$6.8K $39.31/SF
− OpEx
−$1.7K −$9.83/SF
NOI
$5.1K $29.48/SF
Area
Norfolk County, MA
Vacancy
22.00%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$102,020
Cap Rate 7%
$72,871
Cap Rate 9%
$56,678
Alternative Uses
Best Use
Office B
$72.9K
$63.8K – $85.0K
NOI $5,101 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$102.4K
$89.6K – $119.5K
NOI $7,169 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Office units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,310
Businesses Nearby
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Business Placement
Demographics for 02492, MA
21,359
Population
7,500
Households
2.8
Avg Household Size
43
Median Age
84%
College-Educated
99%
High-School Grad
9.5 sq mi
ZIP Area
2,248
Density / Sq Mi
$222,063
Median Household Income
$96,040
Median Earnings
$2,256
Median Rent
$1,177,300
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Norfolk County, MA
Properties on Market for Office Units in Norfolk County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Gas and electric service are included with this second-floor workspace.
Where is this office unit located?
The property is located at 399 Chestnut St Needham, MA.
What are key features of this property?
This property features: 173‑square‑foot office on the second floor; Single office measuring 14'5" x 12'; Shared waiting area
