First-Floor Medical Office
For Sale
$650,000
77 Pond Aven., Brookline, MA 02445
Existing professional build-out with three bathrooms supports medical, dental, or other permitted office use.
Property Size1,800 SF
Price / SF$361.11
Days on Market157
Property Features for 77 Pond Aven.
General Information
Standard status
Active
Size
1,800 SF
Property subtype
COMMERCIAL
Additional Details
Floor
1
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$17,830
Building Details
Building Size
1,800 SF
Year Built
1970
Listing Agency:
Legacy Realty Advisors LLC
(617) 834-3230
Listed By:
Renee Bennett
Source:
Madelyngarciarealestate
Added: Mar 27
Changed: Aug 29
Last Checked: Aug 4 at 7:39AM
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 Legacy Realty Advisors LLC
Investment Insights
Based on property information with market context.
Unit NR-1 is a first-floor commercial condominium within The Brook House, offering approximately 1,800 SF of office space. The suite includes three bathrooms and an existing interior configuration from its prior use as a dental and medical office, providing an established framework for continued professional occupancy or permitted commercial office use. The property was built in 1970.
The office is near Longwood Medical Center and major hospital destinations, with healthcare employers and related services concentrated in the surrounding area. Access to the MBTA Green Lines supports connections for employees and clients.
The office is near Longwood Medical Center and major hospital destinations, with healthcare employers and related services concentrated in the surrounding area. Access to the MBTA Green Lines supports connections for employees and clients.
Key Highlights
- Approximately 1,800 SF first‑floor commercial condo
- Unit NR‑1 includes three bathrooms
- Existing dental and medical office build‑out
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
$57,115
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
8.79%
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%
$1,142,300
$1.1M
Cap Rate 7%
$815,929
$815.9K
Cap Rate 9%
$634,611
$634.6K
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
$97.6K $54.24/SF
− Vacancy
−$21.5K −$11.93/SF
EGI
$76.2K $42.31/SF
− OpEx
−$19.0K −$10.58/SF
NOI
$57.1K $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 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%
$1,142,300
Cap Rate 7%
$815,929
Cap Rate 9%
$634,611
Alternative Uses
Best Use
Office B
$815.9K
$713.9K – $951.9K
NOI $57,115 @ 7.0% cap · market cap 8.79%
Second Best
Healthcare Medical
$746.4K
$653.1K – $870.8K
NOI $52,248 @ 7.0% cap · market cap 8.04%
Theoretical Best
Office A
$1.07M
$932.4K – $1.24M
NOI $74,592 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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 - Existing professional build-out with three bathrooms supports medical, dental, or other permitted office use.
Where is this medical office space located?
The property is located at 77 Pond Aven. Brookline, MA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Approximately 1,800 SF first‑floor commercial condo; Unit NR‑1 includes three bathrooms; Existing dental and medical office build‑out
