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Property profile & analytics
FOR LEASE
Office buildings
29-31 Newbury St, Boston, MA 02116
Entity Owned
2-yr Hold
Free & Clear
Property ID
US38-1480338
For Lease
1 / 2
$9,075,000
29-31 Newbury St, Boston, MA 02116
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1920
Construction
BRICK
Total area
20,491 SF
Lot
0.12 ac (5,149 SF)
Zoning code
C
APN
CBOS W:05 P:01199 S:000
UPID
US38-1480338
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.46M
Comparable Approach
Comparable
$5.66M
Blend (final)
Blend
$9.08M
Owner & transaction history
Newbury Street 29-33 LLC · 2 yrs held
Newbury Street 29-33 LLC
since 2023
6 recorded transactions
Zoning & alternative use
C · Boston, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$13.8M
+9.5%
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 Boston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boston 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%
$12,410,000
6.5%
$11,455,000
7%
$10,635,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$12,595,000
Current use
RESTAURANT
$13,790,000
Change: +9% · Conversion: Moderate
AUTO REPAIR, GARAGE
$12,055,000
Change: -4% · Conversion: Difficult
RETAIL STORES
$11,010,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$9.08M
Range $8.17M – $9.98M · ±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
$443 / 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
$269,405
Tax year 2024
Assessed value
$10,661,055
Assessed 2024
Previous assessed
$10,824,504
-1.5% YoY
Effective rate
2.53%
On assessed value
Assessed land
$5,861,525
Assessed improvement
$4,799,530
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
1920
Construction
BRICK
Heating
NONE
Buildings
1
Stories
4
Units
10
Total area
20,491 SF
Lot
0.12 ac (5,149 SF)
Zoning code
C
APN
CBOS W:05 P:01199 S:000
UPID
US38-1480338
Jurisdiction
BOSTON
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
C · Boston, MA
Zoning C · permitted uses
C · Boston, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boston. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$12.6M
RESTAURANT
Est. value
$13.8M
AUTO REPAIR, GARAGE
Est. value
$12.1M
RETAIL STORES
Est. value
$11.0M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1920
Construction
BRICK
Heating
NONE
Stories
4
Buildings
1
Units
10
Lot
0.12 ac
Current owner
From public records · entity-resolved
Newbury Street 29-33 LLC
Entity
Free & Clear · 2 yrs held
Mailing address
20 PARK PLZ LBBY #7, BOSTON, MA 02116-4307
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 29, 2023
—
Newbury Street 29-33 LLC
29-23 Newbury St T
Quit Claim Deed
related
—
Jul 27, 2010
—
Newbury Street T 29-33
—
Deed Of Trust
related
$1,500,000 · Rockland Trust Co
Apr 10, 2002
—
Newbury St. T-1988
—
Deed Of Trust
related
$850,000 · Rockland Trust Co
Feb 26, 1996
—
Edward Noseworthy JR.
—
Deed Of Trust
related
$102,000 · Beneficial Mortgage Co
Nov 4, 1991
—
Newbury St T 1988
—
Deed Of Trust
related
$850,000 · Ne Federal Savings Bank
—
—
29-33 Newbury Street Trust
—
Deed Of Trust
related
$4,100,000 · Rockland Tr
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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