Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1247-1249 Ctr St Newton, MA 02459
    Back to Search
    Property profile & analytics

    1247-1249 Ctr St, Newton, MA 02459

    View on Map
    • Turn key restaurants
    • 716 SF
    • 0.02 lot acres
    Off-Market
    Property ID
    US38-1833720
    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

    • Turn key restaurants

    Property Details for 1247-1249 Ctr St

    Year built
    1925
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.02 lot acres
    Zone code
    BU1
    Property type
    Turn key restaurants
    APN
    NEWT S:64 B:028 L:0025
    APU
    NEWTS64B028L0025

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 17, 2022 — Montrose 1229-1249 Centre — Deed · related $700k · Hingham Institution For Savings

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.195
    Latitude
    42.3306
    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
    $9,581
    $246,100
    $276,600
    $522,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,392 SF

      22-24 Un St

      RESTAURANT
      22-24 Un St, Newton, MA 02459
      View Details
    • Value Estimation by Request
      2,352 SF

      70 Un St

      RESTAURANT
      70 Un St, Newton, MA 02459-2223
      View Details
    • Value Estimation
      $1,205,000
      6,647 SF

      749 Beacon St, Unit 759

      RETAIL STORES (PERSONAL SERVICES)
      749 Beacon St, Newton, MA 02459-1971
      View Details
    • Value Estimation
      $865,000
      4,220 SF

      761 Beacon St, Unit 771

      RETAIL STORES (PERSONAL SERVICES)
      761 Beacon St, Newton, MA 02459-1971
      View Details
    • Value Estimation
      $1,545,000
      10,826 SF

      49 Un St, Unit 63

      RETAIL STORES (PERSONAL SERVICES)
      49 Un St, Newton, MA 02459-2224
      View Details
    • Value Estimation
      $1,385,000
      11,132 SF

      30-34 Jackson St

      RETAIL STORES (PERSONAL SERVICES)
      30-34 Jackson St, Newton, MA 02459
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Commercial Condo in Newton

      Two-story commercial condo in Newton Centre's vibrant village atmosphere.
      21 Pelham St, Newton, MA 02459
      View Details
    • Contact for pricing
      1,315 SF

      Retail Space in Newton

      Retail space available for sale, totaling 1,315 square feet.
      21 Pelham St, Newton, MA 02459
      View Details
    • Contact for pricing
      1,315 SF

      Prime Commercial Condo in Newton

      Two-story commercial condo in vibrant Newton Centre village atmosphere.
      21 Pelham St, Newton, MA 02459
      View Details
    • Contact for pricing
      1,962 SF

      Prime Commercial Condo with Parking

      Commercial condo in Newton with parking, ideal for owner-user.
      655 Saw Mill Brook Pkwy, Newton Centre, MA 02459
      View Details
    • Contact for pricing
      1,962 SF

      Newton Commercial Condo with Parking

      Prime commercial condo with 13-car parking in desirable Newton location.
      655 Saw Mill Brook Pkwy, Newton, MA 02459
      View Details
    • $699,000
      1.97 Acres

      Newton Commercial Condo - Prime Location

      1.97 Acres, 13 Parking Spots, Renovated Interior
      Saw Mill Brook Pkwy, Newton, MA 02459
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,845 SF

      Restaurant and Retail Space Available

      Restaurant and retail spaces available for lease, up to 2,845 SF.
      1191 Centre St, Newton, MA 02459
      View Details
    • Contact for pricing
      1,894 SF

      Restaurant and Retail Space Available

      Restaurant and retail spaces for lease in Newton Center.
      1185-1197 Centre St, Newton Centre, MA 02459
      View Details
    • Contact for pricing
      1,983 SF

      Prime Corner Retail Space Available

      1,983 SF retail space in Newton Center for rent.
      215-217 Sumner St, Newton Centre, MA 02459
      View Details
    • Contact for pricing
      3,000 SF

      Prime Newton Centre Retail Space

      Retail space with front/back entrances, loading dock, ample parking.
      1239-1243 Centre St, Newton, MA 02459
      View Details
    • Contact for pricing
      19,282 SF

      Retail Space Near Boston College

      Retail space available near Boston College and Commonwealth Avenue.
      22 Langley Rd, Newton Centre, MA 02459
      View Details
    • Contact for pricing

      Classic Office Building For Lease

      Spacious Class B office building with flexible layout options.
      1340 Centre St, Newton, MA 02459
      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.
    1247-1249 Ctr St
    Newton, MA 02459
    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
    1247-1249 Ctr St, Newton, MA, 02459
    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!