Newton Commercial Condo with
For Sale
Contact for pricing
655 Saw Mill Brook Pkwy, Newton, MA 02459
Prime commercial condo with 13-car parking in desirable Newton location.
Property Size1,962 SF
Price / SF$356.27
Days on Market902
Property Features for 655 Saw Mill Brook Pkwy
General Information
Standard status
Active
Size
1,962 SF
Property subtype
Office
Occupancy
100%
Lease Type
Modified Gross
Net Operating Income
$40,000
Building Details
Buildings
1
Stories
1
Units
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Commercial NRT Newton
(617) 843-5685
Listed By:
Todd Glaskin · License #MA 9009395
Source:
Crexi
Added: Feb 23, 2024
Changed: Aug 8
Last Checked: May 12 at 10:48PM
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 Coldwell Banker Commercial NRT Newton
Investment Insights
Based on property information with market context.
This commercial condo in Newton presents a rare opportunity, featuring 13 off-street parking spaces. The property is a first-floor end unit, situated next to a row of single-story commercial condos. It benefits from ample natural light due to numerous windows, as well as excellent signage opportunities and visibility. The renovated interior offers a flexible floor plan, including multiple spacious corner offices, bathrooms, and a kitchen. This unit is suitable as a long-term investment with parking or for an owner-user seeking a location for retail or office business. The property size is 1962 square feet.
Key Highlights
- Prime Newton commercial condo in a highly desirable location.
- Rare 13‑car off‑street parking.
- Bright first‑floor end unit with excellent signage and visibility.
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
$62,255
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
8.91%
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%
$1,245,100
$1.2M
Cap Rate 7%
$889,357
$889.4K
Cap Rate 9%
$691,722
$691.7K
Market Conditions
NOI Build-Up for 1,962 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
$106.4K $54.24/SF
− Vacancy
−$23.4K −$11.93/SF
EGI
$83.0K $42.31/SF
− OpEx
−$20.8K −$10.58/SF
NOI
$62.3K $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%
$1,245,100
Cap Rate 7%
$889,357
Cap Rate 9%
$691,722
Alternative Uses
Best Use
Office B
$889.4K
$778.2K – $1.04M
NOI $62,255 @ 7.0% cap · market cap 8.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,305 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
175
Businesses Nearby
Explore this area
Business Placement
Demographics for 02459, MA
19,017
Population
6,828
Households
2.8
Avg Household Size
44
Median Age
84%
College-Educated
98%
High-School Grad
5.0 sq mi
ZIP Area
3,803
Density / Sq Mi
$214,941
Median Household Income
$87,409
Median Earnings
$2,308
Median Rent
$1,336,200
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 - Prime commercial condo with 13-car parking in desirable Newton location.
Where is this office units located?
The property is located at 655 Saw Mill Brook Pkwy Newton, MA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Prime Newton commercial condo in a highly desirable location.; Rare 13‑car off‑street parking.; Bright first‑floor end unit with excellent signage and visibility.
