Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Boutique Class B Office Building Title is generated by Realmo AI

    40 Court Street, Boston, MA 02018

    View on Map
    Claim this Listing
    New
    For Lease
    Contact for pricing

    Modernized, landmark office building with a renovated lobby and prime downtown commuter access.

    Type:Office
    Property size:
    21,730 SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 3:32 am

    Property Features for 40 Court Street

    General Information

    Standard status
    Active
    Size
    21,730 SF
    Property subtype
    Office

    Spaces For Lease

    at 40 Court Street Contact us

    We can help!

    Listing Contact
    Brian Smallman
    Brian Smallman

    Listing agent Brian Smallman

    Listing office Lincoln Property Company | Boston

    Listing date Jun 2, 2026

    Source Lpc

    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 Lincoln Property Company | Boston

    HighLights

    • Boutique Class B office building with a modernized, renovated lobby
    • Overlooks City Hall Plaza
    • Commuter access: across the street from Government Center
    • 2‑minute walk to State Street
    • 6‑minute walk to Park Street & Haymarket
    • 7‑minute walk to Downtown Crossing; 12‑minute walk to South Station

    Overview

    A boutique Class B office building offering a modernized, landmark presence and a renovated lobby. The building overlooks City Hall Plaza, providing an established downtown setting that suits professional office users seeking a polished arrival experience.

    Commuter access is a strong advantage. Government Center is across the street, with State Street about a two-minute walk away. Park Street and Haymarket are roughly six minutes on foot, and the property is also walkable to Downtown Crossing in about seven minutes and South Station in about twelve minutes. The immediate surrounding area includes ongoing mixed-use development.

    This configuration is well suited to companies that value a central location and an identity-forward building. With convenient access to multiple transit options and a high-profile plaza outlook, the space can work for office tenants looking to attract talent and support day-to-day client and staff travel.
    Location Intelligence

    Current Use by Public Records

    Massachusetts Workforce Association Association Or Organization The Oceanaire Seafood Room Restaurant The Strategy Group Marketing & Advertising JGE Architecture + Design Architecture Firm CommonWealth Purchasing Group ... Physician

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Boston
    County
    Suffolk
    State
    Massachusetts
    Longitude
    -71.05927
    Latitude
    42.35903

    Nearby Similar for Lease

    • $5,500/Mo
      1,210 SF

      East Boston Retail/Office Space

      Flexible commercial space in thriving Day Square neighborhood.
      464 Bremen #2, Boston, MA 02128
      View Details
    • $129-$8,326/Mo
      11-1,292 SF

      One Marina Park

      1 Marina Park Dr, Unit 1410, Boston, MA 02210
      View Details
    • $129-$9,008/Mo
      11-1,292 SF

      Spaces State Street

      75 State St, Boston, MA 02110
      View Details
    • $129-$5,086/Mo
      11-1,292 SF

      Schrafft's Center

      529 Main St, Unit 200, Boston, MA 02129
      View Details
    • $119-$5,176/Mo
      11-1,292 SF

      MA, Boston - New Chardon Street

      25 New Chardon St, Boston, MA 02114
      View Details
    • $129-$8,116/Mo
      11-1,292 SF

      101 Arch Street

      101 Arch St, Unit 8TH, Boston, MA 02110
      View Details
    • $129-$27,695/Mo
      11-3,046 SF

      Federal Street

      101 Federal St, Unit 1900, Boston, MA 02110
      View Details
    • $6,000/Mo
      2,691 SF

      Renovated Full Floor Office Suite

      Completely renovated 2691 SF office space in Boston's Leather District.
      192 South #200/250, Boston, MA 02110
      View Details
    • $129-$6,536/Mo
      11-1,292 SF

      Canal Street

      90 Canal St, Unit 4TH, Boston, MA 02114
      View Details
    • $3,000/Mo
      1,250 SF

      Dorchester Avenue Office Space Available

      Second-floor office space with reception, bathrooms, and multiple offices.
      1548-1558 Dorchester Ave 2A - 2B, Boston, MA 02122
      View Details
    • $29 SF/Yr
      6,846 SF

      Renovated Office Space Sub-Lease

      Recently renovated 6,846 SF office space available for sublease.
      500 Lincoln St #Unit 2, Boston, MA 02134
      View Details
    • $5,500/Mo
      1,500 SF

      Jamaica Plain Retail Space Available

      Retail space in Hyde Square with high ceilings and patio.
      372 Centre St, Boston, MA 02130
      View Details

    FAQs

    What type of property is this?
    Office building - Modernized, landmark office building with a renovated lobby and prime downtown commuter access.
    Where is this office building located?
    The property is located at 40 Court Street Boston, MA.
    What are key features of this property?
    This property features: Boutique Class B office building with a modernized, renovated lobby; Overlooks City Hall Plaza; Commuter access: across the street from Government Center
    (617) 921-0274
    We can help!
    Listing Contact
    Brian Smallman
    Brian Smallman
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    40 Court Street, Boston, MA 02018
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!