Elevator-Served Office
For Sale
$725,000
450 Lexington St 204, Newton, MA 02466
A flexible suite includes private offices, a conference room, reception space, and a kitchenette.
Property Size1,738 SF
Days on Market8
Property Features for 450 Lexington St 204
General Information
Standard status
Active
Size
1,738 SF
Elevators
Yes
Property subtype
Commercial
Additional Details
Floor
2
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$11,329
Building Details
Building Size
1,738 SF
Year Built
1985
Listing Agency:
CRG Commercial
Listed By:
Thomas Slayton · License #9511592
(617) 212-8104
Source:
Elliman
Added: Sep 28
Changed: Oct 2
Last Checked: Oct 4 at 12:22PM
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 CRG Commercial
Investment Insights
Based on property information with market context.
This second-floor office condominium offers four private offices, a large conference room, and an open work area currently arranged with three more offices. Reception space, a kitchenette, and additional storage complete the suite. High ceilings, hardwood flooring, and large windows bring natural light into the workspace. An elevator serves the floor, and the property was built in 1985.
A separate entrance provides access to two offices, creating a distinct area within the suite. The location offers access to the Mass Pike, Route 128, and other major roadways. Parking is available on site.
A separate entrance provides access to two offices, creating a distinct area within the suite. The location offers access to the Mass Pike, Route 128, and other major roadways. Parking is available on site.
Key Highlights
- Second‑floor office condominium served by an elevator
- Four private offices plus an open area currently configured with three additional offices
- Large conference room, reception area, kitchenette, and extra storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,147
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,102,940
$1.1M
Cap Rate 7%
$787,814
$787.8K
Cap Rate 9%
$612,744
$612.7K
Market Conditions
NOI Build-Up for 1,738 SF
Gross rent
$94.3K $54.24/SF
− Vacancy
−$20.7K −$11.93/SF
EGI
$73.5K $42.31/SF
− OpEx
−$18.4K −$10.58/SF
NOI
$55.1K $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 Rate 5%
$1,102,940
Cap Rate 7%
$787,814
Cap Rate 9%
$612,744
Alternative Uses
Best Use
Office B
$787.8K
$689.3K – $919.1K
NOI $55,147 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$900.3K – $1.20M
NOI $72,022 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
868
Businesses Nearby
Explore this area
Business Placement
Demographics for 02466, MA
8,434
Population
3,284
Households
2.6
Avg Household Size
37
Median Age
78%
College-Educated
95%
High-School Grad
1.6 sq mi
ZIP Area
5,271
Density / Sq Mi
$170,852
Median Household Income
$82,244
Median Earnings
$2,082
Median Rent
$1,164,900
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?
Office units - A flexible suite includes private offices, a conference room, reception space, and a kitchenette.
Where is this office units located?
The property is located at 450 Lexington St 204 Newton, MA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Second‑floor office condominium served by an elevator; Four private offices plus an open area currently configured with three additional offices; Large conference room, reception area, kitchenette, and extra storage
