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    121 Harvard Ave Boston, MA 02134

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    121 Harvard Ave Boston, MA 02134

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    • Office buildings
    • 5,304 SF
    • 0.07 lot acres
    For Lease
    $1,920,000
    View Listing →
    Retail, Medical, Office Space Available For Lease
    $1,920,000
    5,536 SF

    Retail, Medical, Office Space Available

    First and second floors plus basement suitable for various uses.

    121 Harvard Avenue, Boston, MA 2134
    View Listing
    Property ID
    US38-1610583
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Friendly Care / Home Health Care Service
    • Boris Yablonovsky / Home Health Care Service
    • Absolute Care / Social Service Agency / Charitable Organization

    Property Details for 121 Harvard Ave

    Year built
    1940
    Construction
    BRICK
    Lot size
    0.07 lot acres
    Property size
    5,304 SF
    Zone code
    C
    Property type
    Office buildings
    APN
    ALLS W:21 P:00893 S:000
    APU
    ALLSW21P00893S000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,780,000
      6.5%
      $2,565,000
      7%
      $2,385,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $3,120,000
      RETAIL STORES
      $2,850,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Allston
    County
    Suffolk
    State
    Massachusetts
    Longitude
    -71.1322
    Latitude
    42.3524
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $31,431
    $320,600
    $923,200
    $1,243,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      214 Lincoln St

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      25 Travis St

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      215-217 Brighton Ave

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      5,915 SF

      556 Cambridge St

      OFFICE BUILDING • 5,915 SF
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      View Details
    • Value Estimation
      $4,545,000
      18,256 SF

      500 Lincoln St

      OFFICE BUILDING • 18,256 SF
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      View Details

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      17,410 SF

      Allston Development Opportunity: 20 Units

      Development opportunity in Allston: approved plans for 20 residential units.
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      3,552 SF

      Allston Three-Family Income Property

      Three-unit property in Allston near Boston Landing and Harvard.
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    Similar Nearby for Lease

    • $28 SF/Yr

      Renovated Office Space Sublease Available

      Recently renovated 6,846 SF office space available for sublease.
      500 Lincoln St, Boston, MA 02134
      View Details
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      683 SF

      Allston Office Suites For Lease

      Office suites for lease in Allston near Mass Turnpike.
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      1,676 SF

      Allston Office Space For Rent

      Office space featuring offices, conference room, and parking.
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      15,617 SF

      Downtown Boston Office and Retail

      Prime downtown Boston location with high-end amenities and city views.
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      View Details
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      2,935 SF

      Allston Office Space Available Now

      Office spaces available for immediate rent in Allston, Massachusetts.
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      View Details
    • Contact for pricing

      First Floor Office Space Available

      2,540 sq. ft. office space near commuter rail.
      119 Braintree St, Boston, MA 02134
      View Details

    Property Visit Statistics

    • Visits by month
      6.5k
    • Visitors by month
      3.6k
    • Avg Time on site
      28 min
    View Listing
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    121 Harvard Ave
    Boston, MA 02134
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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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    121 Harvard Ave, Boston, MA, 02134

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