Mixed-Use Income
New
For Sale
$2,399,999
8-12 Exchange Ct, Waltham, MA 02451
Residential rentals and a warehouse tenancy create a diversified operating mix.
Property Size5,547 SF
Lot Size0.22 Acres
Days on Market7
Property Features for 8-12 Exchange Ct
General Information
Standard status
Active
Size
5,547 SF
Total Parking Spaces
10
Lot size
0.22 Acres
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$17,996
Building Details
Building Size
5,547 SF
Year Built
1880
Listing Agency:
Advantage Property Team LLC
(781) 697-5483
Listed By:
Nicholas Neu · License #9584509
Source:
Classifiedrealtygroup
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 31 at 1:42PM
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 Advantage Property Team LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines studio, one-bedroom, and two-bedroom apartments with a separate warehouse and storage tenancy. Several apartments received improvements in July 2026, including interior painting, updated flooring or carpeting, and kitchen and bathroom work. The property includes gas heat, city water and sewer, vinyl siding, an asphalt roof completed in 2016, and off-street parking. The parcel measures 9,695 square feet, and the building dates to 1880. The property is offered as-is.
Located at 8-12 Exchange Ct in Waltham, the building sits near Main Street, the Waltham Public Library, and Moody Street restaurants, shops, and entertainment. The Waltham MBTA Commuter Rail station is 0.5 mile away, with nearby bus service and access to Route 20, Route 117, I-95/Route 128, and the Massachusetts Turnpike. Its combination of apartment configurations and separate warehouse tenancy provides multiple rental components within one asset.
Located at 8-12 Exchange Ct in Waltham, the building sits near Main Street, the Waltham Public Library, and Moody Street restaurants, shops, and entertainment. The Waltham MBTA Commuter Rail station is 0.5 mile away, with nearby bus service and access to Route 20, Route 117, I-95/Route 128, and the Massachusetts Turnpike. Its combination of apartment configurations and separate warehouse tenancy provides multiple rental components within one asset.
Key Highlights
- Mixed‑use property at 8‑12 Exchange Ct, Waltham, MA 02451
- Studio, one‑bedroom, and two‑bedroom apartments plus a separate warehouse/storage tenancy
- 9,695‑square‑foot parcel with off‑street parking
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
$110,367
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
4.60%
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%
$2,207,340
$2.2M
Cap Rate 7%
$1,576,671
$1.6M
Cap Rate 9%
$1,226,300
$1.2M
Market Conditions
NOI Build-Up for 5,547 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
$211.7K $38.16/SF
− Vacancy
−$11.0K −$1.98/SF
EGI
$200.7K $36.18/SF
− OpEx
−$90.3K −$16.28/SF
NOI
$110.4K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
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%
$2,207,340
Cap Rate 7%
$1,576,671
Cap Rate 9%
$1,226,300
Alternative Uses
Best Use
Apartment 5plus
$1.58M
$1.38M – $1.84M
NOI $110,367 @ 7.0% cap · market cap 4.60%
Second Best
Mixed Use
$1.31M
$1.14M – $1.53M
NOI $91,526 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$3.28M
$2.87M – $3.83M
NOI $229,866 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,569
Businesses Nearby
Explore this area
Business Placement
Demographics for 02451, MA
17,953
Population
7,852
Households
2.3
Avg Household Size
39
Median Age
55%
College-Educated
93%
High-School Grad
5.3 sq mi
ZIP Area
3,387
Density / Sq Mi
$119,509
Median Household Income
$66,318
Median Earnings
$2,537
Median Rent
$709,200
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential rentals and a warehouse tenancy create a diversified operating mix.
Where is this mixed-use property located?
The property is located at 8-12 Exchange Ct Waltham, MA.
What is the asking price?
The asking price for this property is $2,399,999.
What are key features of this property?
This property features: Mixed‑use property at 8‑12 Exchange Ct, Waltham, MA 02451; Studio, one‑bedroom, and two‑bedroom apartments plus a separate warehouse/storage tenancy; 9,695‑square‑foot parcel with off‑street parking
