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    309-321 Walnut St Newton, MA 02460

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    309-321 Walnut St Newton, MA 02460

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    • Retail properties & Spaces
    • 5,855 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 309-321 Walnut St

    Property size
    5,855 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional retail property, located at 309-321 Walnut Street in Newtonville, Massachusetts, offers a unique opportunity for businesses seeking a vibrant and accessible location. The property encompasses a total of 5,855 square feet, with 877 square feet currently available for lease. Situated in a densely populated and affluent neighborhood, just seven miles west of Boston, this single-tenant space benefits from its proximity to the Newtonville MBTA commuter rail stop on the Framingham/Worcester line, ensuring convenient access for both employees and customers. The property includes a valuable asset: a private rear parking lot providing 13 spaces. This is a significant advantage in a location where parking can be at a premium. The strategic location also places the property less than half a mile from Newton North High School, a large campus with over 2,100 students, creating a substantial pool of potential customers. The surrounding area boasts a mix of established businesses, including The UPS Store, Union Pharmacy, LeDu Thai Eatery, George Howell Coffee, and Fitness Together, contributing to a thriving commercial environment. This property presents a compelling opportunity for a business seeking a high-visibility location with excellent accessibility and ample parking in a desirable Newtonville neighborhood. The available 877 square feet offers flexibility for a variety of retail uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.2072
    Latitude
    42.35

    Comparable in this City

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      $5,265,000
      29,184 SF

      839 Washington St, Unit 2

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    • Value Estimation
      $31,305,000
      170,966 SF

      839 Washington St, Unit 3

      COMMERCIAL CONDOMINUIM • 170,966 SF
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    • Value Estimation by Request
      760 SF

      338 Walnut St

      COMMERCIAL CONDOMINUIM • 760 SF
      338 Walnut St, Newton, MA 02460-1923
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    • Value Estimation by Request
      1,500 SF

      340-342 Walnut St, Unit 340-42

      COMMERCIAL CONDOMINUIM • 1,500 SF
      340-342 Walnut St, Newton, MA 02460
      View Details
    • Value Estimation
      $675,000
      3,672 SF

      23 Farwell St

      COMMERCIAL (GENERAL) • 3,672 SF
      23 Farwell St, Newton, MA 02460-1002
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    • Value Estimation by Request
      3,612 SF

      303 Walnut St

      FINANCIAL BUILDING • 3,612 SF
      303 Walnut St, Newton, MA 02460-1927
      View Details

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    Similar Nearby for Lease

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      4,013 SF

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      Prime Retail Space on Walnut

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      Retail Space in Newtonville Heart

      Retail space with new storefront, HVAC, and ample frontage.
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      3,034 SF

      Retail Space with Parking

      Retail space with parking in Newton, Massachusetts.
      304 Walnut St, Newton, MA 02460
      View Details
    • $49 SF/Yr
      6,100 SF

      Retail Space in Newtonville Heart

      Retail space with new storefront, HVAC, and ample frontage.
      304-306 Walnut St, Newton, MA 02460
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    • $1,150 /Mo
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      Newton Office Space For Rent

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    Newton, MA 02460
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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.

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    309-321 Walnut St, Newton, MA, 02460

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