Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    15 Richardson Ave Wakefield, MA 01880

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,300 /Mo ($23 SF/Yr)

    Office space in downtown Wakefield, conveniently located near commuter rail.

    Property size:
    1,200 SF
    Lot size:
    0.26 Acres

    Property Features for 15 Richardson Ave

    General Information

    Size
    1,200 SF
    Lot size
    0.26 Acres
    Source: Moodyscre

    Listing Agent: Albert Bouchie

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Wakefield Converted House Office

    This property offers 1,200 square feet of office space within a converted house, situated in downtown Wakefield. The location is between Main Street and North Avenue, providing convenient access to the Wakefield commuter rail station, which is 0.3 miles away. The property is located on a side street between North Avenue and Main Street in downtown Wakefield. Please note that the rent does not include utilities.
    Location Intelligence

    Current Use by Public Records

    Izumi Yuki Massage ... Massage Therapist Dr. Phillip B. ... Orthodontist Gorlovsky And Wang Mds Doctor Glines Anne Nursing Agency Susan M. Jenette, ... Counselor

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wakefield
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.0715077
    Latitude
    42.5026188

    Nearby Similar for Lease

    • $5,000 /Mo

      Updated Retail Space in Wakefield

      Updated retail space with great visibility in Wakefield, Massachusetts.
      239-243 North Ave, Wakefield, MA 01880
      View Details
    • Contact for pricing
      3,960 SF

      Amenity-Rich Office Space Available

      Class A office campus with numerous amenities and natural surroundings.
      301 Edgewater Pl, Wakefield, MA 01880
      View Details
    • Contact for pricing
      6,000 SF

      Prime Wakefield Retail Space

      6,000 SF Retail Space Available
      500 Main St, Wakefield, MA 01880
      View Details
    • Contact for pricing
      3,667 SF

      Prime Wakefield Retail Space

      Restaurant/Commercial Space Available
      200-400 Quannapowitt Pkwy, Wakefield, MA 01880
      View Details
    • Contact for pricing
      4,037 SF

      Amenity-Rich Office Space Available

      Class A office campus with many amenities and natural surroundings.
      201 Edgewater Dr, Wakefield, MA 01880
      View Details
    • Contact for pricing
      3,660 SF

      Amenity-Rich Office Space Available

      Class A office campus with numerous amenities and natural surroundings.
      401 Edgewater Dr, Wakefield, MA 01880
      View Details
    • Contact for pricing
      36,108 SF

      Amenity-Rich Office Campus for Rent

      Class A office space with extensive amenities and natural surroundings.
      601 Edgewater Dr, Wakefield, MA 01880
      View Details
    • Contact for pricing
      36,035 SF

      Amenity-Rich Office Campus for Rent

      Class A office space with extensive amenities and natural surroundings.
      701 Edgewater Dr, Wakefield, MA 01880
      View Details
    • Contact for pricing
      5,753 SF

      Amenity-Rich Office Space Available

      Class A office campus with many amenities near shops.
      500 Edgewater Dr, Wakefield, MA 01880
      View Details
    • $272 SF/Yr
      2,000 SF

      Downtown Wakefield Office Space

      Prime Retail/Office, Single Tenant, 950 sq ft.
      209 Albion St, Wakefield, MA 01880
      View Details
    • Contact for pricing
      3,420 SF

      Wakefield Office Building For Rent

      Office building with parking and finished basement near public transit.
      45 Albion St, Wakefield, MA 01880
      View Details
    • $22 SF/Yr

      First Floor Space with Lake View

      End-cap space with lake view, suitable for office or retail.
      607 North Ave, Wakefield, MA 01880
      View Details

    FAQs

    What type of property is this?
    Office space - Office space in downtown Wakefield, conveniently located near commuter rail.
    Where is this office space located?
    The property is located at 15 Richardson Ave Wakefield, MA.
    What is the lease rate?
    The lease rate is $23 SF/Yr.
    What are key features of this property?
    This property features: - Conveniently located 0.3 miles from the Wakefield commuter rail station.; - Located in downtown Wakefield.; - 1,200 SF of office space.
    (617) 908-6775
    Request Owner's contact information
    15 Richardson Ave Wakefield, MA 01880
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    15 Richardson Ave
    Wakefield, MA 01880
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    15 Richardson Ave Wakefield, MA 01880
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.