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

    17 Herrick Rd, Unit GROUND Newton, MA 02459

    • Investment properties
    • 28,472 SF
    • 0.53 lot acres
    For Lease
    View listing
    $2,000 /Mo
    Last Sale
    May 18, 2022
    $2,350,000
    Value Estimations
    $2,235,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0333794
    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

    • Elite Skin Therapy / Skin Care Clinic
    • KDR Medspa + Wellness / Spa & Massage Center / Alternative Medicine Practice
    • SereneMeno HGH Peptides Testosterone Medical group / Medical Clinic

    Property Details for 17 Herrick Rd

    Year built
    1930
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.53 lot acres
    Property size
    28,472 SF
    Zone code
    BU1
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    NEWT S:61 B:035 L:0006
    APU
    NEWTS61B035L0006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,190,000
      ML approach
      $2,190,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,092,000
      Market price range: $2.09M - $5.23M

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

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.1939
    Latitude
    42.3294
    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
    $0.00
    $3,117,900
    $3,782,500
    $6,900,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1.19 Acres

      50 Gln Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1.19 Acres
      50 Gln Ave, Newton, MA 02459-2066
      View Details
    • Value Estimation by Request
      1,944 SF

      90 Wendell Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,944 SF
      90 Wendell Rd, Newton, MA 02459-2947
      View Details
    • Value Estimation
      $685,000
      2,760 SF

      51 Devon Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,760 SF
      51 Devon Rd, Newton, MA 02459-1649
      View Details
    • Value Estimation
      $820,000
      4,760 SF

      384 Langley Rd, Unit 390

      OFFICE/RESIDENTIAL (MIXED USE) • 4,760 SF
      384 Langley Rd, Newton, MA 02459-2354
      View Details
    • Value Estimation by Request
      2,002 SF

      79 Parker Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,002 SF
      79 Parker Ave, Newton, MA 02459-2635
      View Details
    • Value Estimation
      $1,490,000
      1,824 SF

      113 Greenlawn Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,824 SF
      113 Greenlawn Ave, Newton, MA 02459-1712
      View Details

    Similar Nearby for Sale

    • $24,000,000

      Newton Land with Two Houses

      14.97 acres in Newton with development potential.
      85 Dudley Rd, 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
    • 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
    • $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

    Similar Nearby for Lease

    • 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
      5,463 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
      8,300 SF

      Restaurant/Bar Space in Newton Centre

      Two-story restaurant/bar with patio in Newton Centre location.
      93 Union 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
    • $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

    Property Visit Statistics

    • Visits by month
      2.5k
    • Visitors by month
      2.1k
    • Avg Time on site
      13 min
    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.
    17 Herrick Rd, Unit GROUND
    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

    Google sign-in failed. Please try again or use another login method.