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

    231 Belmont St Belmont, MA 02478-3607

    • Retail space
    • 4,882 SF
    • 0.18 lot acres
    OFF-MARKET
    Value Estimations
    $825,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0427136
    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

    • MyEyeDr. / Eye Care Center / Contact Lenses Supplier
    • Bennett Family Eye Care / Contact Lenses Supplier / Eye Care Center
    • Rebecca Maida, O.D. / Optometrist
    • Linda Bennett, O.D. / Optometrist
    • Kathleen Barr, OD / Optometrist / Optician

    Property Details for 231 Belmont St

    Year built
    1906
    Construction
    FRAME
    Lot size
    0.18 lot acres
    Property size
    4,882 SF
    Zone code
    LB3
    Property type
    Retail space
    APN
    BELM M:02 P:000061 S:
    APU
    BELMM02P000061S

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,170,000
      6.5%
      $1,080,000
      7%
      $1,000,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $515,000
      Market price range: $277k - $840k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,315,000
      Current use
      AUTO REPAIR, GARAGE
      $1,375,000
      Change: +4% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,355,000
      Change: +3% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,260,000
      Change: -4% Conversion: Easy
      OFFICE BUILDING
      $1,070,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Belmont
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.161
    Latitude
    42.377
    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
    $18,396
    $885,000
    $857,000
    $1,742,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.07 Acres

      165-169 Belmont St

      RETAIL STORES (PERSONAL SERVICES) • 0.07 Acres
      165-169 Belmont St, Belmont, MA 02478
      View Details
    • Value Estimation by Request
      0.10 Acres

      31 Leonard St, Unit 37

      RETAIL STORES (PERSONAL SERVICES) • 0.10 Acres
      31 Leonard St, Belmont, MA 02478-2526
      View Details
    • Value Estimation
      $1,100,000
      8,135 SF

      93-97 Trapelo Rd

      RETAIL STORES (PERSONAL SERVICES) • 8,135 SF
      93-97 Trapelo Rd, Belmont, MA 02478
      View Details
    • Value Estimation
      $1,210,000
      9,118 SF

      105 Trapelo Rd, Unit 115

      RETAIL STORES (PERSONAL SERVICES) • 9,118 SF
      105 Trapelo Rd, Belmont, MA 02478-1884
      View Details
    • Value Estimation by Request
      1,695 SF

      763-765A Belmont St

      RETAIL STORES (PERSONAL SERVICES) • 1,695 SF
      763-765A Belmont St, Belmont, MA 02478
      View Details
    • Value Estimation
      $695,000
      3,800 SF

      129 Belmont St, Unit 135

      RETAIL STORES (PERSONAL SERVICES) • 3,800 SF
      129 Belmont St, Belmont, MA 02478-3638
      View Details

    Similar Nearby for Sale

    • $1,300,000
      3,392 SF

      Retail Investment Opportunity in Belmont

      Retail property in Belmont, MA, offering long-term investment potential.
      117-121 Trapelo Rd, Belmont, MA 02478
      View Details
    • Contact for pricing
      11,500 SF

      Belmont Flex Space: 11,500 SF

      Multi-tenant flex space, 100% occupied, strong NOI.
      334 Pleasant St, Belmont, MA 02478
      View Details
    • Contact for pricing
      0.33 Acres

      Belmont, MA Unique Property

      Charming Belmont lot, ideal for development.
      334 Pleasant St, Belmont, MA 02478
      View Details
    • $1,575,000
      4,174 SF

      West of Boston Office Building

      4174 SF office building in strategic location for sale.
      44 Trapelo Rd, Belmont, MA 02478
      View Details
    • $1,025,000
      1,840 SF

      Belmont Office/Medical Investment Opportunity

      1,840 SF building in Belmont-Watertown area, ideal for investment.
      113 Belmont St, Belmont, MA 02478
      View Details
    • $1,149,000

      Updated Two-Family Home in Belmont

      Two-family home in Belmont's Waverley neighborhood with expansion potential.
      55-57 Hawthorne St, Belmont, MA 02478
      View Details

    Similar Nearby for Lease

    • $55 SF/Yr
      6,618 SF

      Belmont Center Retail Opportunity

      Retail space available in high-traffic Belmont Center location.
      60 Leonard St, Belmont, MA 02478
      View Details
    • $55 SF/Yr
      6,618 SF

      Belmont Center Retail Opportunity

      Prime retail spaces available in revitalized Belmont Center building.
      60 Leonard St, Belmont, MA 02478
      View Details
    • Contact for pricing
      2,537 SF

      Prime Retail Space Available

      Versatile retail space in a high-visibility commercial location.
      275-285 Belmont St, Belmont, MA 02478
      View Details
    • Contact for pricing
      4,198 SF

      Live-Work-Play Community Retail Space

      Mixed-use community with retail and luxury residential units for rent.
      525 Common St, Belmont, MA 02478
      View Details
    • $1,900 /Mo

      Retail/Office Space with High Visibility

      Retail or office space in high-traffic location, includes basement.
      386 A Trapelo Rd, Belmont, MA 02478
      View Details
    • $1.00 SF/Yr
      2,537 SF

      Belmont Commercial Space for Lease

      Versatile commercial space suitable for retail or office use.
      285 Belmont St, Belmont, MA 02478
      View Details

    Property Visit Statistics

    • Visits by month
      2.8k
    • Visitors by month
      2.3k
    • Avg Time on site
      39 min
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    231 Belmont St
    Belmont, MA 02478-3607
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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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