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Property profile & analytics
FOR LEASE
Office buildings
2221 Washington St, Newton Lower Falls, MA 02462
Entity Owned
32-yr Hold
~
Est. High Equity
Property ID
US38-0335008
For Lease
1 / 2
$10,850,000
2221 Washington St, Newton Lower Falls, MA 02462
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1976
Construction
STEEL FRAME
Total area
45,916 SF
Lot
1.77 ac (76,992 SF)
Zoning code
BU5
APN
NEWT S:42 B:032 L:0007
UPID
US38-0335008
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Merrill Lynch Financial Advisor Patrick S Ryan Financial Advisor
-
Merrill Lynch Financial Advisor Robert A Patterson Financial Advisor
-
Merrill Lynch Financial Advisor Ronald Bernard Financial Advisor
-
Merrill Lynch Wealth Management Advisor Jared Gagne Financial Advisor
-
Merrill Lynch Financial Advisor Dan Whiting Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.67M
Blend (final)
Blend
$10.85M
Owner & transaction history
Pk LP Newton Exec. · 32 yrs held
Pk LP Newton Exec.
since 1993
2 recorded transactions
Zoning & alternative use
BU5 · Newton, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Newton Lower Falls submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newton Lower Falls submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$14,010,000
Current use
RESTAURANT
$13,330,000
Change: -5% · Conversion: Moderate
AUTO REPAIR, GARAGE
$12,925,000
Change: -8% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$12,720,000
Change: -9% · Conversion: Difficult
RETAIL STORES
$12,380,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$10.85M
Range $9.77M – $11.94M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$236 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$244,234
Tax year 2024
Assessed value
$13,324,300
Assessed 2024
Previous assessed
$13,983,600
-4.7% YoY
Effective rate
1.83%
On assessed value
Assessed land
$2,422,900
Assessed improvement
$10,901,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1976
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
3
Units
10
Rooms
10
Bathrooms
6
Total area
45,916 SF
Lot
1.77 ac (76,992 SF)
Zoning code
BU5
APN
NEWT S:42 B:032 L:0007
UPID
US38-0335008
Jurisdiction
NEWTON
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
BU5 · Newton, MA
Zoning BU5 · permitted uses
BU5 · Newton, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$14.0M
RESTAURANT
Est. value
$13.3M
AUTO REPAIR, GARAGE
Est. value
$12.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$12.7M
RETAIL STORES
Est. value
$12.4M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1976
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Units
10
Rooms
10
Bathrooms
6
Lot
1.77 ac
Current owner
From public records · entity-resolved
Pk LP Newton Exec.
Entity
Mailing address
1 GTWY CTR STE #500, NEWTON, MA 02458-2878
Ownership since
1993
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 17, 2021
—
Newton Executive Pk LP
—
Deed
related
$10,000,000 · John Hancock Life Insurance
Dec 29, 1993
$10,181,805
Pk LP Newton Exec.
New Eng Mut Life Ins
Grant Deed
$8,650,000 · Baybank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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