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    Property profile & analytics

    29-35 Washington St Wellesley, MA 02481

    • Retail properties
    • 2,614 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 29-35 Washington St

    Property size
    2,614 SF
    Property type
    Retail properties

    Description

    This exceptional retail property, located at 29-35 Washington Street in Wellesley, Massachusetts, presents a unique opportunity for a discerning business owner. The building boasts a total of 2,614 square feet of space, currently entirely vacant and ready for immediate occupancy. The property type is retail, featuring a highly desirable drive-thru component, adding significant convenience and potential for increased customer traffic. A full usable basement provides ample additional storage or expansion space, offering versatility for a variety of retail concepts. The property is situated in Norfolk County, within the vibrant town of Wellesley, and benefits from a generous 40-space parking lot, ensuring ample parking for customers and employees. The address is 29-35 Washington Street, Wellesley, MA 02481. This location offers excellent visibility and accessibility, making it an ideal spot for a business seeking high foot traffic and convenient customer access. The entire 2,614 square feet is available for lease, providing a blank canvas for a new tenant to create their ideal retail space. The property's combination of drive-thru convenience, ample parking, and substantial square footage makes it a truly exceptional opportunity in the competitive Wellesley market. This is a rare chance to secure a prominent retail location in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Wellesley
    County
    Norfolk
    State
    Massachusetts
    Longitude
    -71.2615
    Latitude
    42.3249

    Comparable in this City

    • Value Estimation
      $500,000
      0.47 Acres

      239 Washington St, Unit 251

      RETAIL STORES (PERSONAL SERVICES) • 0.47 Acres
      239 Washington St, Wellesley, MA 02481-3101
      View Details
    • Value Estimation
      $365,000
      0.17 Acres

      212 Worcester St

      VEHICLE SALES, RENTALS • 0.17 Acres
      212 Worcester St, Wellesley, MA 02481-5432
      View Details
    • Value Estimation
      $535,000
      0.76 Acres

      170 Worcester St Ste, Unit 184

      RETAIL STORES (PERSONAL SERVICES) • 0.76 Acres
      170 Worcester St Ste, Wellesley, MA 02481-5508
      View Details
    • Value Estimation
      $335,000
      0.20 Acres

      2 Washington St

      SERVICE STATION (FULL SERVICE) • 0.20 Acres
      2 Washington St, Wellesley, MA 02481-1705
      View Details
    • Value Estimation
      $395,000
      0.28 Acres

      431 Worcester St

      SERVICE STATION (FULL SERVICE) • 0.28 Acres
      431 Worcester St, Wellesley, MA 02481-5333
      View Details
    • Value Estimation
      $420,000
      0.08 Acres

      443 Worcester St, Unit 451

      RETAIL STORES (PERSONAL SERVICES) • 0.08 Acres
      443 Worcester St, Wellesley, MA 02481-5333
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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    Similar Nearby for Lease

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      2,782 SF

      Retail Space in Wellesley, MA

      2,782 SF retail space available in Wellesley, MA.
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      View Details
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      Retail space with high visibility and heavy traffic.
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      Upscale Retail Space in Wellesley

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      Retail/Bank Space Available

      2,086 SF end cap retail/bank space for lease.
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      Retail Space on Linden Street

      Retail space for rent, walking distance to Linden Square.
      139 Linden St, Wellesley, MA 02481
      View Details
    • Contact for pricing
      1,065 SF

      Prime Playhouse Square Location

      Adaptable space for office, medical, or retail uses.
      386 Washington St, Wellesley, MA 02481
      View Details
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    Wellesley, MA 02481
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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
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