Office Condo Unit with
983-989 Chestnut St #7 Newton, MA 02464
983-989 Chestnut St #7, Newton, MA, 02464
$299,000
For Sale
$299,000
Two-room office condo includes central air, a private bathroom, and three off-street parking spaces.
Property Size504 SF
Price / SF$593.25
Days on Market36
Property Features for 983-989 Chestnut St #7
General Information
- Standard status
- Active
- Size
- 504 SF
Building Details
- Year Built
- 1825
Listing agency
Commonwealth Standard Realty Advisors
(617) 286-6855
Listed by
Andrew Goldberg
Source
Dohertyproperties
Added: Jun 17 Updated: Jul 21 at 4:05PM Checked: Jul 21 at 4:05PM
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 Commonwealth Standard Realty Advisors
Investment Insights
Based on property information with market context.
Well-suited for office use, this commercial condo offers an efficient two-room layout. The unit includes central air conditioning and a private bathroom, with the remaining space configured for everyday professional workflow.
The property is located on Chestnut Street in Newton Upper Falls, with easy access to Needham Street, Route 9, and I-95/Route 128. Public transportation and nearby retail and dining amenities support convenient client and staff access.
A total of three off-street parking spaces are included, adding practical convenience for an owner-user or tenant with regular visits.
The property is located on Chestnut Street in Newton Upper Falls, with easy access to Needham Street, Route 9, and I-95/Route 128. Public transportation and nearby retail and dining amenities support convenient client and staff access.
A total of three off-street parking spaces are included, adding practical convenience for an owner-user or tenant with regular visits.
Key Highlights
- 504 SF office condo with a practical two‑room layout for a private office or professional services
- Central air conditioning and a private bathroom
- Three off‑street parking spaces for owner and client convenience
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.3k | $54.24 |
| − Vacancy | −$6.0k | −$11.93 |
| EGI | $21.3k | $42.31 |
| − OpEx | −$5.3k | −$10.58 |
| NOI | $16.0k | $31.73 |
504 SF · lease $54.24/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$228.5K
$199.9K – $266.5K
NOI $15,992 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$298.4K
$261.1K – $348.1K
NOI $20,886 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Two-room office condo includes central air, a private bathroom, and three off-street parking spaces.
Where is this office units located?
The property is located at 983-989 Chestnut St #7 Newton, MA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 504 SF office condo with a practical two‑room layout for a private office or professional services; Central air conditioning and a private bathroom; Three off‑street parking spaces for owner and client convenience
