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    315 University Ave Westwood, MA 02090

    Sponsored
    For Lease
    $5 SF/Yr

    Flexible office solutions in Westwood, MA.

    Lot size:
    6,249 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional office space in Westwood, Massachusetts, offers a diverse range of solutions for businesses of all sizes. Located at 315 University Ave, in Norfolk County, this property provides flexible options to suit your specific needs. Choose from traditional private offices, fully furnished and equipped for individuals or large teams, scalable from one to over 100 desks. Customizable options are available, including serviced offices, disaster recovery spaces, and day offices, offering access as needed. For a more collaborative environment, coworking spaces are available, allowing you to reserve a dedicated desk or utilize a hot-desk option. The property also features a comprehensive suite of meeting rooms, adaptable for various uses, from informal chats to large-scale conferences. Need a prestigious business address without the overhead? Virtual office options are available, including mail handling and professional virtual assistant services, with varying levels of office access included. Finally, flexible working plans provide access to a global network of workspaces, offering unparalleled convenience and adaptability. This property is ideal for businesses seeking a modern, versatile, and strategically located workspace in Westwood, MA. The property type is classified as Traditional Office, Executive Office, Coworking, and Medical Office, making it suitable for a wide range of professional uses. The tenancy is multiple, indicating shared occupancy. While the total building square footage is not specified, the available office spaces range in size to accommodate various business needs.

    Property Features for 315 University Ave

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    6,249 SF

    Unit(s) available at that property

    Space
    Virtual Office
    Size
    54 SF
    Rate per SF
    $43
    Space
    Flexible coworking membership
    Size
    108 SF
    Rate per SF
    $13
    Space
    Flexible office membership
    Size
    108 SF
    Rate per SF
    $24
    Space
    Coworking space
    Size
    328 SF
    Rate per SF
    $5
    Space
    Private office for 1 person
    Size
    538 SF
    Rate per SF
    $7
    Space
    Private office for 2 people
    Size
    538 SF
    Rate per SF
    $9
    Space
    Private office for 3 people
    Size
    646 SF
    Rate per SF
    $10
    Space
    Private office for 4 people
    Size
    646 SF
    Rate per SF
    $13
    Space
    Private office for 5 people
    Size
    807 SF
    Rate per SF
    $13
    Space
    Open plan office space for + 10 people
    Size
    1,184 SF
    Rate per SF
    $33
    Space
    Open plan office space for + 15 people
    Size
    1,292 SF
    Rate per SF
    $30

    HighLights

    • Private, furnished, and equipped offices; options include serviced, custom, disaster recovery, and day offices.
    • Coworking spaces with dedicated desks and hot‑desking options.
    • Meeting rooms equipped with technology and catering available.
    • Virtual offices with mail forwarding and call answering services.
    • Flexible memberships offering office, coworking, or lounge access across a global network.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Spa & Massage Building Supply Auto Repair Shop Wholesale Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Westwood
    County
    Norfolk
    State
    Massachusetts
    Longitude
    -71.1553495
    Latitude
    42.2008876

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    FAQs

    What type of property is this?
    Medical office - Flexible office solutions in Westwood, MA.
    Where is this medical office located?
    The property is located at 315 University Ave Westwood, MA.
    What is the lease rate?
    The lease rate is $5-$43 SF/Yr.
    What are key features of this property?
    This property features: Private, furnished, and equipped offices; options include serviced, custom, disaster recovery, and day offices.; Coworking spaces with dedicated desks and hot-desking options.; Meeting rooms equipped with technology and catering available.
    Request Owner's contact information
    315 University Ave Westwood, MA 02090
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    Westwood, MA 02090
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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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    315 University Ave Westwood, MA 02090
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