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    Property profile & analytics

    1 Chestnut St Newton, MA 02465-2515

    • Banks
    • 4,732 SF
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    Jul 17, 2024
    $975,000
    Value Estimations
    $975,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0884674
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Bank of America Home Mortgage / Mortgage Lender

    Property Details for 1 Chestnut St

    Year built
    1930
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.16 lot acres
    Property size
    4,732 SF
    Zone code
    BU1
    Property type
    Banks
    APN
    NEWT S:33 B:010 L:0005
    APU
    NEWTS33B010L0005

    Description

    This exceptional 2,500 square foot retail space is available for lease at 1 Chestnut Street in Newton, Massachusetts. Located in Middlesex County, this single-tenant property offers a fantastic opportunity for a business seeking a prominent location. The building's total square footage is 2,500 square feet, all of which is currently vacant and ready for immediate occupancy. The property boasts ample parking with eight spaces available for customers and employees. The property type is classified as retail, specifically a bank, suggesting a layout potentially suitable for financial institutions or similar businesses requiring a secure and professional environment. The address is 1 Chestnut Street, Newton, MA 02465. Its convenient location within Middlesex County offers excellent accessibility and visibility, making it an ideal space for a business looking to establish or expand its presence in the thriving Newton market. The property is ready for immediate lease and presents a unique opportunity for a discerning tenant. Interested parties are encouraged to inquire further to explore the possibilities this prime retail space offers. The property is situated at latitude 42.3491659 and longitude -71.2256486.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Estimation
      $975,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $940,000
      6.5%
      $995,000
      7%
      $1,000,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,065,000
      Geo Method
      $1,080,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $865,000
      Retail
      $735,000
      Mixed-Use
      $845,000
      Hospitality
      $950,000
      Educational
      $805,000
      Residential Income
      $730,000
      Energy
      $915,000
      Income-Based Land
      $960,000
      Food Service
      $955,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.2256
    Latitude
    42.3492
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $17,424
    $393,700
    $556,900
    $950,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $4,555,000
      7,886 SF

      1314 Washington St

      FINANCIAL BUILDING • 7,886 SF
      1314 Washington St, Newton, MA 02465-2027
      View Details
    • Value Estimation by Request
      15,442 SF

      1121 Washington St

      RETAIL STORES (PERSONAL SERVICES) • 15,442 SF
      1121 Washington St, Newton, MA 02465-2149
      View Details
    • Value Estimation by Request
      11,540 SF

      25-27 Dunstan St

      RETAIL STORES (PERSONAL SERVICES) • 11,540 SF
      25-27 Dunstan St, Newton, MA 02465
      View Details
    • Value Estimation
      $1,560,000
      1,972 SF

      340 Riv St

      RETAIL STORES (PERSONAL SERVICES) • 1,972 SF
      340 Riv St, Newton, MA 02465-1438
      View Details
    • Value Estimation by Request
      17,270 SF

      10 Westwood St

      RETAIL STORES (PERSONAL SERVICES) • 17,270 SF
      10 Westwood St, Newton, MA 02465-1825
      View Details
    • Value Estimation
      $375,000
      2,730 SF

      97 Border St

      RETAIL STORES (PERSONAL SERVICES) • 2,730 SF
      97 Border St, Newton, MA 02465-2013
      View Details

    Similar Nearby for Sale

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      Professional office space in West Newton with flexible lease terms.
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      View Details
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    1 Chestnut St
    Newton, MA 02465-2515
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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