Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    637 Massachusetts Ave Arlington, MA 02476
    Back to Search
    Property profile & analytics

    637 Massachusetts Ave Arlington, MA 02476

    View on Map
    • Office Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Leone & Leone, Attorneys at Law / Law Firm
    • Chiara Jr Frank J / Law Firm
    • Outlook Associates of New England / Psychotherapist / Social Worker
    • Arlington Education Association / Association / Organization
    • Coldwell Banker : Meena Sharma / Real Estate Agency

    Property Details for 637 Massachusetts Ave

    Year built
    1928
    Property type
    Office Spaces

    Description

    This exceptional single-tenant office building, located at 637 Massachusetts Avenue in Arlington, Middlesex County's Arlington-Rt 2 submarket, presents a unique opportunity. Built in 1928 and extensively renovated in 2012, this 3,800 square foot property boasts a blend of historic character and modern amenities. The building features a flexible layout, allowing for customizable configurations to suit diverse business needs. Abundant natural light floods the renovated interiors, creating a bright and welcoming workspace. The prime location on Massachusetts Avenue offers excellent visibility and signage opportunities, ensuring high brand recognition. Ample parking is available for tenants and visitors (1-10 spaces). The property's zoning is Commercial. Its proximity to the Minuteman Bikeway, local parks, and a vibrant mix of restaurants and shops along Massachusetts Avenue, including the Capitol Theatre, provides a desirable work-life balance. Furthermore, its convenient access to major transportation routes and its proximity to Boston make it an ideal location for businesses seeking seamless connectivity within the Greater Boston area. This is a truly versatile space suitable for a variety of office or retail uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Arlington
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.1534
    Latitude
    42.416

    Comparable in this City

    • Value Estimation by Request
      1,009 SF

      22 Ml St Ste, Unit 2

      CONDOMINIUM OFFICES • 1,009 SF
      22 Ml St Ste, Arlington, MA 02476-4738
      View Details
    • Value Estimation by Request
      1,278 SF

      22 Ml St Ste, Unit 302

      CONDOMINIUM OFFICES • 1,278 SF
      22 Ml St Ste, Arlington, MA 02476-4744
      View Details
    • Value Estimation by Request
      1,028 SF

      22 Ml St Ste, Unit 308

      CONDOMINIUM OFFICES • 1,028 SF
      22 Ml St Ste, Arlington, MA 02476-4744
      View Details
    • Value Estimation by Request
      1,149 SF

      22 Ml St Ste, Unit 310

      CONDOMINIUM OFFICES • 1,149 SF
      22 Ml St Ste, Arlington, MA 02476-4744
      View Details
    • Value Estimation by Request
      1,118 SF

      1064 Massachusetts Ave, Unit 1

      CONDOMINIUM OFFICES • 1,118 SF
      1064 Massachusetts Ave, Arlington, MA 02476-4311
      View Details
    • Value Estimation by Request
      7,463 SF

      715 Massachusetts Ave

      Medical Office Space • 7,463 SF
      715 Massachusetts Ave, Arlington, MA 02476
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Versatile Arlington Commercial Property

      Mixed-use property with residential, commercial, and industrial components.
      52-56 Dudley Street Pl, Arlington, MA 02476
      View Details
    • Contact for pricing

      Versatile Commercial Property in Arlington

      Rare mixed-use property with residential, commercial, and industrial components.
      52-56 Dudley Street Pl, Arlington, MA 02476
      View Details
    • Contact for pricing
      12,905 SF

      Versatile Commercial Property in Arlington

      Rare Arlington commercial property with multiple buildings and diverse potential uses.
      52-56 Dudley Street Pl, Arlington, MA 02476
      View Details
    • Contact for pricing
      Pending

      Luxury Condo in Arlington Community

      New construction condo with modern amenities, coming Fall 2025.
      1025 Massachusetts Ave, Arlington, MA 02476
      View Details
    • Contact for pricing

      Arlington Two-Family Home Opportunity

      Classic two-family home in Arlington, rich in character and potential.
      15 Howard St, Arlington, MA 02476
      View Details
    • Contact for pricing

      Versatile Arlington Commercial Property

      Rare mixed-use property with residential, commercial, and industrial components.
      52-56 Dudley Street Pl, Arlington, MA 02476
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Restored Office Building in Arlington

      Professional office spaces in a restored building with parking.
      94 Pleasant St, Arlington, MA 02476
      View Details
    • $45 SF/Yr
      3,800 SF

      Arlington Retail/Office Space For Rent

      Street-level office/retail space with prime location and modern finishes.
      633-641 Massachusetts Ave, Arlington, MA 02476
      View Details
    • $3,850 /Mo
      1,380 SF

      Freestanding Office Building For Lease

      Freestanding office building in high visibility location on Mass Ave.
      1012 Massachusetts Ave, Arlington, MA 02476
      View Details
    • $3,500 /Mo

      First Floor Office Suite

      Charming first floor office suite in a high visibility location.
      1171 Massachusetts Ave, Arlington, MA 02476
      View Details
    • Contact for pricing

      Arlington Center Office Space

      Two-room office suite in the heart of Arlington Center.
      742 Massachusetts Ave, Arlington, MA 02476
      View Details
    • Contact for pricing

      Arlington Center Office Space Available

      Two-room office suite in the heart of Arlington Center.
      742 Massachusetts Ave, Arlington, MA 02476
      View Details
    Request Owner's contact information
    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.
    637 Massachusetts Ave
    Arlington, MA 02476
    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.

    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    637 Massachusetts Ave, Arlington, MA, 02476
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!