Property profile

233 Needham St Newton, MA 02464

FOR LEASE
Office buildings
Property ID
US38-2344443
65,404 SF 0.99 ac lot Built 1988
Entity Owned 9-yr Hold Free & Clear
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Property summary

AI-generated overview

233 Needham Street in Newton, Massachusetts offers a unique opportunity to lease creative office space within a vibrant and convenient location. This 12,434 square foot building, situated in the N2 Innovation District of Middlesex County, is currently fully vacant and available for lease. The property is classified as Retail, Office, and Restaurant, making it suitable for a variety of businesses. Multiple tenancy options are available, with spaces ranging from a minimum of 1,661 square feet to a maximum contiguous space of 3,732 square feet. Five individual suites are available for lease, providing flexibility for businesses of varying sizes. The building's prime location offers easy access to a wealth of amenities, including numerous restaurants, fitness centers, and retail establishments, all within walking distance. This impressive property presents a compelling opportunity for businesses seeking a modern and convenient workspace in a thriving area. The address is 233 Needham Street, Newton, MA 02464. The property is ideally situated for businesses seeking a high-profile location with excellent accessibility and a strong surrounding infrastructure. The building's total square footage is 12,434 square feet, with the entire space currently available for lease. This presents a rare chance to secure a significant footprint in a desirable location.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1988
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 65,404 SF
Lot 0.99 ac (42,933 SF)
Zoning code MU1
APN NEWT S:51 B:028 L:0008
UPID US38-2344443

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Construction Company General Contractor
  • (Bike/Boat/Book/etc) Store Corporate Office
  • (Bike/Boat/Book/etc) Store Corporate Office
  • Tech Support Center IT Consulting Firm
  • Corporate Office

Location

233 Needham St Newton, MA 02464
Newton metro Census 374100 BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$19.91M
Blend (final) Blend
$15.91M

Owner & transaction history

since 2017
7 recorded transactions
2017
Price N/A
2017
$20.9M
2008
$1
2008
Price N/A
2007
$11.5M
2007
Price N/A
2004
Price N/A

Zoning & alternative use

MU1 · Newton, MA
Zoning description

The intent of the zone to promote mixed uses

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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