Built-Out Medical Office
For Sale
$600,000
77 Pond Ave #NR1, Brookline, MA 02445
Dental office configuration includes treatment rooms, expansion-ready plumbing, central air, and dedicated staff, doctor, and patient bathrooms.
Property Size1,800 SF
Price / SF$333.33
Days on Market139
Property Features for 77 Pond Ave #NR1
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Commercial
Zoning
M20, Legal Non-Conforming
Taxes and HOA fees
Annual Taxes
$17,830
Building Details
Building Size
1,800 SF
Year Built
1970
Listing Agency:
Stanley J. Paine Co, Inc.
(617) 201-5242
Listed By:
Stanley J. Paine
(617) 201-5242
Source:
Alliancepartnersre
Added: Apr 14
Changed: Aug 29
Last Checked: Jun 12 at 12:01PM
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 Stanley J. Paine Co, Inc.
Investment Insights
Based on property information with market context.
This 1,800-square-foot medical office condominium is configured for dental operations, with 6 operatories, 3 fully equipped treatment rooms, and plumbing designed to support future expansion. The sale includes dental equipment and related infrastructure, including 2 dental units, a Gen X X-ray system, compressor, central vacuum pump, and lab workspace. The suite also provides 3 bathrooms serving staff, doctor, and patients, along with central air. The property was built in 1970, and the condo fee includes gas.
Located at Brook House, the property offers access to 24/7 gated security, on-site management, garage parking, elevators, fitness and recreation facilities, swimming pool, steam rooms, tennis, pickleball, basketball, and function rooms. Longwood Medical Area, the MBTA Green Line D and E branches, and major hospitals are nearby. The configuration supports dental, medical, or professional office use.
Located at Brook House, the property offers access to 24/7 gated security, on-site management, garage parking, elevators, fitness and recreation facilities, swimming pool, steam rooms, tennis, pickleball, basketball, and function rooms. Longwood Medical Area, the MBTA Green Line D and E branches, and major hospitals are nearby. The configuration supports dental, medical, or professional office use.
Key Highlights
- 1,800 SF medical office condo with a dental build‑out
- 6 operatories, including 3 fully equipped treatment rooms
- Plumbing design in place for expansion
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
$52,248
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
8.71%
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%
$1,044,960
$1.0M
Cap Rate 7%
$746,400
$746.4K
Cap Rate 9%
$580,533
$580.5K
Market Conditions
NOI Build-Up for 1,800 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
$98.1K $54.48/SF
− Vacancy
−$11.0K −$6.10/SF
EGI
$87.1K $48.38/SF
− OpEx
−$34.8K −$19.35/SF
NOI
$52.2K $29.03/SF
Area
Middlesex County, MA
Vacancy
11.20%
Lease Rate
$54.48 /SF/Yr
Expense Ratio
40.00%
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%
$1,044,960
Cap Rate 7%
$746,400
Cap Rate 9%
$580,533
Alternative Uses
Best Use
Office B
$815.9K
$713.9K – $951.9K
NOI $57,115 @ 7.0% cap · market cap 9.52%
Second Best
Healthcare Medical
$746.4K
$653.1K – $870.8K
NOI $52,248 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$1.07M
$932.4K – $1.24M
NOI $74,592 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,417
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02445, MA
22,499
Population
10,016
Households
2.2
Avg Household Size
36
Median Age
86%
College-Educated
98%
High-School Grad
2.6 sq mi
ZIP Area
8,653
Density / Sq Mi
$145,878
Median Household Income
$76,514
Median Earnings
$2,779
Median Rent
$1,218,000
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?
Medical Office Space - Dental office configuration includes treatment rooms, expansion-ready plumbing, central air, and dedicated staff, doctor, and patient bathrooms.
Where is this medical office space located?
The property is located at 77 Pond Ave #NR1 Brookline, MA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 1,800 SF medical office condo with a dental build‑out; 6 operatories, including 3 fully equipped treatment rooms; Plumbing design in place for expansion
