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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1296-1298 Ctr St Newton, MA 02459

    • Retail space
    • 3,683 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    $650,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0651377
    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.

    Current Use by Public Records

    • The Holy Insurance Co / Insurance Agency

    Property Details for 1296-1298 Ctr St

    Year built
    1946
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.24 lot acres
    Property size
    3,683 SF
    Zone code
    BU1
    Property type
    Retail space
    APN
    NEWT S:61 B:035 L:0002
    APU
    NEWTS61B035L0002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $410,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $880,000
      6.5%
      $815,000
      7%
      $755,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $995,000
      Current use
      AUTO REPAIR, GARAGE
      $1,035,000
      Change: +4% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,020,000
      Change: +3% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.1945
    Latitude
    42.3291
    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
    $25,017
    $835,100
    $529,700
    $1,364,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,205,000
      6,647 SF

      749 Beacon St, Unit 759

      RETAIL STORES (PERSONAL SERVICES) • 6,647 SF
      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) • 4,220 SF
      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) • 10,826 SF
      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) • 11,132 SF
      30-34 Jackson St, Newton, MA 02459
      View Details
    • Value Estimation
      $1,515,000
      2,809 SF

      208 Sumner St, Unit 214

      RETAIL STORES (PERSONAL SERVICES) • 2,809 SF
      208 Sumner St, Newton, MA 02459-1954
      View Details
    • Value Estimation
      $615,000
      5,131 SF

      1255 Ctr St

      RETAIL STORES (PERSONAL SERVICES) • 5,131 SF
      1255 Ctr St, Newton, MA 02459-1535
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Turnkey Boba & Coffee Shop

      Established boba and coffee shop in Newton Centre for sale.
      212 Sumner St, Newton, MA 02459
      View Details
    • $24,000,000

      Newton Land with Two Houses

      14.97 acres in Newton with development potential.
      85 Dudley Rd, Newton, MA 02459
      View Details
    • $739,000
      1,962 SF

      Newton MA Office Condo Investment

      Prime Newton location, 1,962 SF, 13 parking spaces.
      655 Saw Mill Brook Pkwy, Newton, MA 02459
      View Details
    • $1,375,000

      Newton Centre Two-Family Home

      Two-family home in Newton Centre with updated interiors.
      44 Irving St, Newton, MA 02459
      View Details
    • $649,000
      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
    • $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

    • $3,900 /Mo

      Newton Commercial Space For Rent

      Corner lot retail/office space with high visibility and parking.
      21 Jackson St, Newton, MA 02459
      View Details
    • Contact for pricing
      3,634 SF

      Retail Space with High Visibility

      3,634 SF retail space with basement storage and great visibility.
      821-833 Beacon St, Newton, 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
    • $3,200 /Mo

      Newton Center Office/Retail Space

      Office or retail space in Newton Center with parking.
      1349 Centre St, Newton, 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
    • $15 SF/Yr
      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
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    1296-1298 Ctr St
    Newton, MA 02459
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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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