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

    241 Cres St Waltham, MA 02453-3575

    • Investment properties
    • 391,781 SF
    • 8.22 lot acres
    OFF-MARKET
    Value Estimations
    $38,795,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1572496
    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

    • Eric Banash Photography / Wedding Service / Photography Service
    • Norian Siani Inc / Engineering Consultant
    • Rainwater Recovery / Engineering Consultant
    • Tom Hill Productions / Film Production / Television Studio
    • Jeff Katz - Nonprofit Consulting / Employment Agency

    Property Details for 241 Cres St

    Year built
    1870
    Lot size
    8.22 lot acres
    Property size
    391,781 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    WALT M:068 B:022 L:0002
    APU
    WALTM068B022L0002

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $29,330,000
      6.5%
      $27,075,000
      7%
      $25,140,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $46,002,000
      Market price range: $21.5M - $96.0M

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

    Location Insight

    • Map
    • Local Demand
    City
    Waltham
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.2438
    Latitude
    42.3667
    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
    $7,671,400
    $58,645,000
    $66,316,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.10 Acres

      23-25 Fern St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.10 Acres
      23-25 Fern St, Waltham, MA 02453
      View Details
    • Value Estimation by Request
      0.21 Acres

      78-80 Adams St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.21 Acres
      78-80 Adams St, Waltham, MA 02453
      View Details
    • Value Estimation
      $1,275,000
      5,419 SF

      52-54 Elm St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,419 SF
      52-54 Elm St, Waltham, MA 02453
      View Details
    • Value Estimation
      $870,000
      5,216 SF

      99-101 Felton St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,216 SF
      99-101 Felton St, Waltham, MA 02453
      View Details
    • Value Estimation
      $2,070,000
      7,636 SF

      731 Moody St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,636 SF
      731 Moody St, Waltham, MA 02453-5047
      View Details
    • Value Estimation
      $49,360,000
      387,965 SF

      211 Moody St, Unit 245

      OFFICE/RESIDENTIAL (MIXED USE) • 387,965 SF
      211 Moody St, Waltham, MA 02453-5322
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,585 SF

      Mixed-Use Building Near Moody Street

      Mixed-use property with residential, rooming house, and salon spaces.
      55-57 Crescent St, Waltham, MA 02453
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      Multifamily with Commercial Space

      Multi-family property with commercial space and licensed rooming house.
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      24,000 SF

      Moody Street Mixed-Use Opportunity

      Waltham, MA: 24,000 SF, 42 Units, Redevelopment Site
      210 Moody St, Waltham, MA 02453
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    • $1,200,000

      Commercial Land For Sale

      Commercial land available for sale.
      62 Adams St, Waltham, MA 02453
      View Details
    • $3,250,000

      Waltham Multifamily Investment Opportunity

      Ten-unit multifamily property near Charles River and Moody Street.
      266-274 River St, Waltham, MA 02453
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      Prime Location Business Opportunity

      Former lounge suitable for restaurant or other business ventures.
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    Similar Nearby for Lease

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      1,944 SF

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      Restaurant leasing opportunity with high visibility and ample parking.
      653-663 Main St, Waltham, MA 02453
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      25,590 SF

      Waltham R&D Flex Space

      25,590 SF single-story R&D flex space for lease.
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      300 SF

      Retail or Office Space Available

      Small retail or office space in front of building.
      100 Felton St, Waltham, MA 02453
      View Details
    • $1,500 /Mo

      Medical Suite in Doctors Building

      Medical suite for lease in Waltham's Doctors Office Building.
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      Turn Key Moody Street Office

      Move-in ready office space in a desirable location.
      397 Moody St, Waltham, MA 02453
      View Details
    • Contact for pricing
      3,224 SF

      Waltham Office Space For Rent

      Six-story office building with amenities and commuter rail access.
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      View Details
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    241 Cres St
    Waltham, MA 02453-3575
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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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