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    1359 Centre St Newton, MA 02459
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    Property profile & analytics

    1359 Centre St, Newton, MA 02459

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    • Office buildings
    • 4,430 SF
    • 0.15 lot acres
    For Lease
    $1,000/Mo
    View Listing →
    Small Office with Parking Space For Lease
    $1,000/Mo

    Small Office with Parking Space

    Two-room office space with parking near Newton Center.

    1359 Centre, Newton, MA 2459
    View Listing
    Property ID
    US38-1872052
    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
    $1,275,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bercury Insurance Agency / Insurance Agency
    • Anchor Insurance Group / Insurance Agency
    • Chandler Hoover & Giles Insurance Agency / Insurance Agency
    • New England Commercial Insurance Agency / Insurance Agency
    • Sarah A. Feigon, Ph.D / Physician / Medical Clinic

    Property Details for 1359 Centre St

    Year built
    1959
    Construction
    FRAME
    Lot size
    0.15 lot acres
    Zone code
    BU2
    Property type
    Office buildings
    APN
    NEWT S:62 B:011 L:0006
    APU
    NEWTS62B011L0006

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 2, 2020 $1,275,000 Kmmansour 1359 LLC 1359 Centre LLC Quit Claim Arm's Length For Ne States $1.1M · Village Bank
    Dec 2, 2020 — Kmm RT — Deed · related $1.1M · Village Bank
    Oct 19, 2011 $780,000 1359 Centre LLC Michael H Oconnor 2005 Deed $624k · Medical Area FCU
    Aug 28, 2006 $1 Michael H Oconnor RT Oconnor,michael H Grant Deed —
    Nov 19, 2001 — Michael O'connor — Deed Of Trust · related $400k · Framingham Cp Bank
    Apr 22, 1987 — Michael H O'connor — Deed Of Trust · related $185k · West Newton Svgs Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,355,000
      ML approach
      $1,410,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,072,000
      Market price range: $942k - $1.90M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,350,000
      Current use
      COMMERCIAL (GENERAL)
      $1,865,000
      Change: +38% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,245,000
      Change: -8% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,225,000
      Change: -9% Conversion: Difficult
      RETAIL STORES
      $1,195,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.1971
    Latitude
    42.3277
    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
    $16,647
    $640,500
    $267,700
    $908,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,950,000
      8,779 SF

      858 Walnut St

      OFFICE BUILDING
      858 Walnut St, Newton, MA 02459-1756
      View Details
    • Value Estimation
      $3,855,000
      28,727 SF

      70 Wls Ave

      OFFICE BUILDING
      70 Wls Ave, Newton, MA 02459-3233
      View Details
    • Value Estimation
      $1,605,000
      5,920 SF

      65 Un St, Unit 73

      OFFICE BUILDING
      65 Un St, Newton, MA 02459-2224
      View Details
    • Value Estimation
      $2,880,000
      10,377 SF

      150 Wls Ave

      OFFICE BUILDING
      150 Wls Ave, Newton, MA 02459-3302
      View Details
    • Value Estimation
      $7,660,000
      33,196 SF

      60 Wls Ave

      OFFICE BUILDING
      60 Wls Ave, Newton, MA 02459-3239
      View Details
    • Value Estimation
      $3,200,000
      10,282 SF

      94 Wls Ave

      OFFICE BUILDING
      94 Wls Ave, Newton, MA 02459
      View Details

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      Prime Commercial Condo in Newton

      Two-story commercial condo in vibrant Newton Centre village atmosphere.
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      Prime Commercial Condo with Parking

      Commercial condo in Newton with parking, ideal for owner-user.
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      Prime Commercial Condo in Newton

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

      Retail Space in Newton

      Retail space available for sale, totaling 1,315 square feet.
      21 Pelham St, Newton, MA 02459
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      2,330 SF

      Newton Centre Two-Family Home

      Two-family home near Newton Centre T, restaurants, and shops.
      8-10 Willow St, Newton, MA 02459
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    Similar Nearby for Lease

    • 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
    • Contact for pricing
      21,127 SF

      Newton Office Building For Rent

      Three-story office building in Newton near Route 128.
      75-95 Wells Ave, Newton, MA 02459
      View Details
    • Contact for pricing

      Office Space in Wells Park

      Office space available in the Wells Park office hub.
      7-57 Wells Ave, Newton, MA 02459
      View Details
    • Contact for pricing

      Loft Style Room in Newton

      Loft-style room with skylights available for immediate occupancy.
      1349 Centre St, Newton, MA 02459
      View Details
    • Contact for pricing
      6,157 SF

      Office Space in Wells Park

      Office space available in Newton Center's Wells Park.
      57 Wells Ave, Newton Centre, MA 02459
      View Details
    • Contact for pricing

      Renovated Office Suites in Newton

      Spacious, bright office suites for lease in Newton Centre.
      15 Cypress St, Newton, MA 02459
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    Property Visit Statistics

    • Visits by month
      3.7k
    • Visitors by month
      2.7k
    • Avg Time on site
      10 min
    View Listing
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    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.

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