Multi-Tenant Flex Space
For Sale
$5,295,000
4 Preston Ct, Bedford, MA 01730
24,751 SF multi-tenant flex space near Lexington's Hartwell Avenue.
Property Size24,751 SF
Price / SF$213.93
Days on Market247
Property Features for 4 Preston Ct
General Information
Standard status
Active
Size
24,751 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$113,915
Building Details
Year Built
1971
Listing Agency:
Jeremy Cyrier
(617) 674-2043
Listed By:
Jeremy Cyrier · License ##9048314
Source:
Corcoran
Added: Dec 8, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:06AM
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 Jeremy Cyrier
Investment Insights
Based on property information with market context.
This 24,751 square foot building is located near Hartwell Avenue in Lexington, within the IND-B section. The two-story building offers multi-tenant flex space suitable for office, research and development, lab, biotech, and light manufacturing uses. A 4,500 lb capacity passenger/freight elevator services both floors. The location benefits from its proximity to a skilled white-collar workforce; approximately 16,053 highly skilled professionals reside within a 3-mile radius. Nearby companies include Thermo Fisher Scientific, Stoke, Diversified Technologies, Cubic PV, and UCB.
Key Highlights
- 24,751 +/- SF multi‑tenant flex space suitable for office, R&D, lab, biotech, and light manufacturing.
- Located near Lexington's Hartwell Avenue in the IND‑B section.
- Proximity to a large pool of skilled white‑collar employees (16,053 within a 3‑mile radius).
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
$263,274
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
4.97%
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%
$5,265,480
$5.3M
Cap Rate 7%
$3,761,057
$3.8M
Cap Rate 9%
$2,925,267
$2.9M
Market Conditions
NOI Build-Up for 24,751 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
$398.0K $16.08/SF
− Vacancy
−$21.9K −$0.88/SF
EGI
$376.1K $15.20/SF
− OpEx
−$112.8K −$4.56/SF
NOI
$263.3K $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 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%
$5,265,480
Cap Rate 7%
$3,761,057
Cap Rate 9%
$2,925,267
Alternative Uses
Best Use
Office B
$11.22M
$9.82M – $13.09M
NOI $785,359 @ 7.0% cap · market cap 14.83%
Second Best
Industrial
$3.76M
$3.29M – $4.39M
NOI $263,274 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$14.65M
$12.82M – $17.09M
NOI $1,025,675 @ 7.0% cap · market cap 19.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01730, MA
14,566
Population
5,970
Households
2.4
Avg Household Size
45
Median Age
69%
College-Educated
96%
High-School Grad
12.4 sq mi
ZIP Area
1,175
Density / Sq Mi
$158,286
Median Household Income
$88,504
Median Earnings
$2,430
Median Rent
$878,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - 24,751 SF multi-tenant flex space near Lexington's Hartwell Avenue.
Where is this flex space located?
The property is located at 4 Preston Ct Bedford, MA.
What is the asking price?
The asking price for this property is $5,295,000.
What are key features of this property?
This property features: 24,751 +/- SF multi‑tenant flex space suitable for office, R&D, lab, biotech, and light manufacturing.; Located near Lexington's Hartwell Avenue in the IND‑B section.; Proximity to a large pool of skilled white‑collar employees (16,053 within a 3‑mile radius).
