Two-Level Flex
For Sale
Contact for pricing
586 Pleasant Street Unit 8, Watertown, MA 02472
Two-level configuration combines garage and office space with bathrooms, kitchenette, and shower.
Property Size1,600 SF
Price / SF$468.13
Days on Market147
Property Features for 586 Pleasant Street Unit 8
General Information
Standard status
Active
Size
1,600 SF
Total Parking Spaces
2
Property subtype
Industrial, Office, Self Storage
Zoning
Legal Conforming
Investment Type
Owner/User
Building Details
Year Built
2017
Buildings
1
Stories
2
Listing Agency:
Elevated Realty LLC
(617) 438-6682
Listed By:
Dimitri Petrosian · License #MA: 9569224
Source:
Crexi
Added: Apr 7
Changed: Aug 29
Last Checked: Aug 29 at 1:18PM
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 Elevated Realty LLC
Investment Insights
Based on property information with market context.
This 1,600-square-foot commercial condominium provides a two-level flex-space layout. The ground floor contains an 800-square-foot garage with 400-amp electrical service, while the upper level offers an 800-square-foot office area. The office component includes two bathrooms, a kitchenette, and a shower, creating a practical combination of work and support areas within the unit.
The property was built in 2017 and carries Legal Conforming zoning. Two deeded parking spaces are included, with additional parking available for rent. The address is 586 Pleasant Street, Unit 8, Watertown, MA 02472.
The property was built in 2017 and carries Legal Conforming zoning. Two deeded parking spaces are included, with additional parking available for rent. The address is 586 Pleasant Street, Unit 8, Watertown, MA 02472.
Key Highlights
- 1,600 SF commercial condominium with a two‑level layout
- 800 SF garage with 400‑amp electrical service
- 800 SF second‑floor office area
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
$50,769
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
6.78%
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%
$1,015,380
$1.0M
Cap Rate 7%
$725,271
$725.3K
Cap Rate 9%
$564,100
$564.1K
Market Conditions
NOI Build-Up for 1,600 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
$86.8K $54.24/SF
− Vacancy
−$19.1K −$11.93/SF
EGI
$67.7K $42.31/SF
− OpEx
−$16.9K −$10.58/SF
NOI
$50.8K $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 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%
$1,015,380
Cap Rate 7%
$725,271
Cap Rate 9%
$564,100
Alternative Uses
Best Use
Office B
$725.3K
$634.6K – $846.2K
NOI $50,769 @ 7.0% cap · market cap 6.78%
Second Best
Industrial
$243.1K
$212.7K – $283.7K
NOI $17,019 @ 7.0% cap · market cap 2.27%
Theoretical Best
Office A
$947.2K
$828.8K – $1.11M
NOI $66,304 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,123
Businesses Nearby
Balanced
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-level configuration combines garage and office space with bathrooms, kitchenette, and shower.
Where is this flex space located?
The property is located at 586 Pleasant Street Unit 8 Watertown, MA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 1,600 SF commercial condominium with a two‑level layout; 800 SF garage with 400‑amp electrical service; 800 SF second‑floor office area
