Second-Floor Office/Retail
For Sale
Contact for pricing
84 Leonard St # 2, Belmont, MA 02478
Second-floor office and retail space with utilities included in rent.
Property Size600 SF
Price / SF$3.08
Days on Market177
Property Features for 84 Leonard St # 2
General Information
Standard status
Active
Size
600 SF
Property subtype
Commercial
Zoning
LB1
Taxes and HOA fees
Annual Taxes
$37,097
Building Details
Building Size
600 SF
Year Built
1962
Listing Agency:
Gibson CRE
(617) 426-6901
Listed By:
Albert Bouchie · License #9522540
(617) 908-6775
Source:
Churchillprop
Added: Apr 29
Changed: Oct 19
Last Checked: Oct 20 at 6:53PM
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 Gibson CRE
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This suite offers approximately 600 square feet of combined office and retail space on the second floor. The listing notes that utilities are included in the rent.
The space is located in Belmont Center at 84 Leonard St Unit 2, Belmont, MA 02478.
Suitable for tenants seeking a second-floor layout that supports both office use and retail-oriented activity.
The space is located in Belmont Center at 84 Leonard St Unit 2, Belmont, MA 02478.
Suitable for tenants seeking a second-floor layout that supports both office use and retail-oriented activity.
Key Highlights
- Approximately 600 +/- SF office/retail space on the 2nd floor
- Utilities are included in the rent
- Building year built: 1962
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,624
Suggested Prices Based on Cap Rates
Cap Rate 5%
$172,480
$172.5K
Cap Rate 7%
$123,200
$123.2K
Cap Rate 9%
$95,822
$95.8K
Market Conditions
NOI Build-Up for 600 SF
Gross rent
$13.2K $21.96/SF
− Vacancy
−$856 −$1.43/SF
EGI
$12.3K $20.53/SF
− OpEx
−$3.7K −$6.16/SF
NOI
$8.6K $14.37/SF
Area
Middlesex County, MA
Vacancy
6.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$172,480
Cap Rate 7%
$123,200
Cap Rate 9%
$95,822
Alternative Uses
Best Use
Office B
$272.0K
$238.0K – $317.3K
NOI $19,038 @ 7.0% cap · market cap 1,029.08%
Second Best
Retail
$123.2K
$107.8K – $143.7K
NOI $8,624 @ 7.0% cap · market cap 466.16%
Theoretical Best
Office A
$355.2K
$310.8K – $414.4K
NOI $24,864 @ 7.0% cap · market cap 1,344.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
Explore this area
Business Placement
Demographics for 02478, MA
27,286
Population
10,811
Households
2.5
Avg Household Size
42
Median Age
80%
College-Educated
98%
High-School Grad
4.6 sq mi
ZIP Area
5,932
Density / Sq Mi
$177,790
Median Household Income
$95,206
Median Earnings
$2,382
Median Rent
$1,108,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Second-floor office and retail space with utilities included in rent.
Where is this office unit located?
The property is located at 84 Leonard St # 2 Belmont, MA.
What are key features of this property?
This property features: Approximately 600 +/- SF office/retail space on the 2nd floor; Utilities are included in the rent; Building year built: 1962
