Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1515 Commercial St Weymouth, MA 02189

    • Retail space
    • 15,814 SF
    • 2.60 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1579177
    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

    • Old Country Pizzeria & Roast Beef / American Restaurant / Caterer
    • MinuteClinic at CVS / Walk-In Clinic / Local Medical Services
    • Santander Bank ATM / Atm
    • CVS Photo / Digital Printer / Photo Lab
    • CVS / Vitamin & Supplements Store / Drug Store

    Property Details for 1515 Commercial St

    Year built
    2003
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.60 lot acres
    Property size
    15,814 SF
    Zone code
    100
    Property type
    Retail space
    APN
    WEYM M:23 B:254 L:004
    APU
    WEYMM23B254L004

    Description

    This exceptional retail opportunity is situated at the highly visible intersection of Commercial and High Streets in Weymouth, Norfolk County. The property, part of a larger multi-tenant commercial building, offers 2,786 square feet of immediately available space within a total building area of 8,000 square feet. The space benefits from excellent street access and visibility, ensuring high foot traffic and potential for significant brand exposure. A key advantage is the strategic location next to a CVS Pharmacy, guaranteeing a steady flow of potential customers. The property also presents a valuable pylon signage opportunity, further enhancing its marketing potential and brand recognition. This space is ideal for a variety of retail businesses seeking a prominent location in a busy commercial area. The multi-tenant nature of the building provides a synergistic environment, attracting a diverse customer base. The available space is ready for immediate occupancy, allowing for a swift and efficient start to operations. This is a rare opportunity to secure a prime retail location in a thriving commercial district. Don't miss out on this chance to establish your business in a high-traffic, highly visible location. Contact us today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,485,000
      6.5%
      $4,140,000
      7%
      $3,845,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,566,000
      Market price range: $1.32M - $2.57M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $4,575,000
      Current use
      AUTO REPAIR, GARAGE
      $5,090,000
      Change: +11% Conversion: Difficult
      OFFICE BUILDING
      $4,570,000
      Change: -0% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $4,545,000
      Change: -1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Weymouth
    County
    Norfolk
    State
    Massachusetts
    Longitude
    -70.9211
    Latitude
    42.2156
    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
    $62,615
    $829,400
    $3,019,100
    $3,848,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,490 SF

      545 Broad St

      RETAIL STORES (PERSONAL SERVICES) • 2,490 SF
      545 Broad St, Weymouth, MA 02189-1301
      View Details
    • Value Estimation by Request
      714 SF

      890 Broad St

      RETAIL STORES (PERSONAL SERVICES) • 714 SF
      890 Broad St, Weymouth, MA 02189-2933
      View Details
    • Value Estimation by Request
      1,200 SF

      1355 Pleasant St

      RETAIL STORES (PERSONAL SERVICES) • 1,200 SF
      1355 Pleasant St, Weymouth, MA 02189-2720
      View Details
    • Value Estimation by Request
      1,500 SF

      1192 Washington St

      RETAIL STORES (PERSONAL SERVICES) • 1,500 SF
      1192 Washington St, Weymouth, MA 02189-2313
      View Details
    • Value Estimation
      $1,340,000
      8,946 SF

      1353 Commercial St

      RETAIL STORES (PERSONAL SERVICES) • 8,946 SF
      1353 Commercial St, Weymouth, MA 02189-2924
      View Details
    • Value Estimation
      $1,090,000
      5,806 SF

      579 Nn St

      RETAIL STORES (PERSONAL SERVICES) • 5,806 SF
      579 Nn St, Weymouth, MA 02189
      View Details

    Similar Nearby for Sale

    • $595,000
      1,574 SF

      Retail Property with Route 53 Exposure

      Retail property featuring oversized parking, full basement, and central A/C.
      995 Washington St, East Weymouth, MA 02189
      View Details
    • $2,799,900

      Automotive Shop with Office Space

      Commercial property featuring an automotive shop and office space.
      40 Moore Rd, Weymouth, MA 02189
      View Details
    • $995,000
      6,305 SF

      East Weymouth Industrial Property

      6,305 SF industrial property available in East Weymouth, MA.
      81 Hawthorne St, East Weymouth, MA 02189
      View Details
    • $630,000

      Two-Family Home with Vacant Units

      Two-family home with vacant units, ideal for owner-occupants or investors.
      52 High St, Weymouth, MA 02189
      View Details
    • $799,900

      Spacious Two-Family Home on Large Lot

      Two-family home on .79 acres in desirable Weymouth neighborhood.
      30 Puritan Rd, Weymouth, MA 02189
      View Details
    • $650,000
      2,541 SF

      Medical Office Condo For Sale

      Turnkey medical office condo with 10 rooms for immediate occupancy.
      536 Broad St, Weymouth, MA 02189
      View Details

    Similar Nearby for Lease

    • $1,802 /Mo
      865 SF

      Prime Weymouth Office/Retail Space

      High-visibility space on Route 53, ideal for diverse businesses.
      1235 Washington St, East Weymouth, MA 02189
      View Details
    • Contact for pricing
      4,188 SF

      Retail Space in Multifamily Development

      Retail space available in Weymouth, MA, Route 53 visibility.
      1325 Washington St, Weymouth, MA 02189
      View Details
    • Contact for pricing
      8,090 SF

      Retail Space in Weymouth

      8,090 SF retail space with great visibility for rent.
      824-836 Washington St E, Weymouth, MA 02189
      View Details
    • Contact for pricing
      14,480 SF

      Prime Weymouth Executive Office Space

      14,480 SF Office Building, 2,961 SF Available
      1239 Washington St, Weymouth, MA 02189
      View Details
    • Contact for pricing
      8,090 SF

      Prime Weymouth Retail Space

      8,090 SF Retail Space - Available Now
      824 Washington St, Weymouth, MA 02189
      View Details
    • Contact for pricing

      Retail Space in Weymouth Center

      Retail space available in Weymouth, MA shopping center.
      1515 Commercial St, Weymouth, MA 02189
      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.
    1515 Commercial St
    Weymouth, MA 02189
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.