Route 128 Corridor Office
For Sale
Contact for pricing
950 Boylston St, Newton, MA 02461
Three-story office building in Newton with income potential.
Property Size4,752 SF
Lot Size0.12 Acres
Price / SF$441.92
Days on Market687
Property Features for 950 Boylston St
General Information
Standard status
Active
Size
4,752 SF
Lot size
0.12 Acres
Property subtype
Office
Zoning
BU2/VC3
Investment Type
Owner/User
Building Details
Year Built
1950
Year Renovated
2024
Buildings
1
Stories
3
Listing Agency:
128 CRE Commercial Real Estate Agency
(617) 916-1028
Listed By:
Jeremy Freid · License #MA 9089542-RE-B
Source:
Crexi
Added: Oct 4, 2024
Changed: Aug 14
Last Checked: Aug 18 at 1:41PM
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 128 CRE Commercial Real Estate Agency
Investment Insights
Based on property information with market context.
Located at 950 Boylston Street in Newton, this three-story brick building offers a commercial property opportunity in the Route 128 corridor. The building totals 4,752 square feet on a 5,175 square foot lot. The property is positioned on Route 9, providing access to restaurants, amenities, and public transportation. It is located between the Eliot Green Line station (0.3 miles) and the Newton Highlands Green Line station (0.5 miles). The site also benefits from highway access, located 2 miles off I-95. Amenities and lunch options are available along Needham Street and in the Newton Highlands Village. The property includes an AT&T cellular lease, with further details available upon request.
Key Highlights
- Prime commercial property in the heart of the thriving Newton market.
- Three‑story brick building totaling 4,752 sq. ft. on a 5,175 sq. ft. lot.
- Ideal for office tenants looking to transition from renting to owning.
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
$150,783
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
7.18%
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%
$3,015,660
$3.0M
Cap Rate 7%
$2,154,043
$2.2M
Cap Rate 9%
$1,675,367
$1.7M
Market Conditions
NOI Build-Up for 4,752 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
$257.7K $54.24/SF
− Vacancy
−$56.7K −$11.93/SF
EGI
$201.0K $42.31/SF
− OpEx
−$50.3K −$10.58/SF
NOI
$150.8K $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%
$3,015,660
Cap Rate 7%
$2,154,043
Cap Rate 9%
$1,675,367
Alternative Uses
Best Use
Office B
$2.15M
$1.88M – $2.51M
NOI $150,783 @ 7.0% cap · market cap 7.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.81M
$2.46M – $3.28M
NOI $196,922 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,042
Businesses Nearby
Explore this area
Business Placement
Demographics for 02461, MA
7,430
Population
2,785
Households
2.7
Avg Household Size
44
Median Age
88%
College-Educated
97%
High-School Grad
1.5 sq mi
ZIP Area
4,953
Density / Sq Mi
$207,292
Median Household Income
$101,850
Median Earnings
$3,026
Median Rent
$1,154,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Three-story office building in Newton with income potential.
Where is this office building located?
The property is located at 950 Boylston St Newton, MA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Prime commercial property in the heart of the thriving Newton market.; Three‑story brick building totaling 4,752 sq. ft. on a 5,175 sq. ft. lot.; Ideal for office tenants looking to transition from renting to owning.
