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Property profile & analytics
FOR LEASE
Office buildings
29 Crafts St, Newton, MA 02458
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US38-1328168
For Lease
1 / 2
$14,825,000
29 Crafts St, Newton, MA 02458
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
70,140 SF
Lot
1.12 ac (48,732 SF)
Zoning code
MAN
APN
NEWT S:14 B:023 L:0009
UPID
US38-1328168
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
-
Alkon & Levine PC Accounting Firm Tax Preparation
-
Alkon & Levine Pc: Levine Jeffrey CPA Accounting Firm Tax Preparation
-
Yang Li, DO Physician
-
Volpe Plastic Surgery Spa & Massage Center Alternative Medicine Practice
-
Parker Hannifin Corporation Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.96M
Blend (final)
Blend
$14.83M
Owner & transaction history
Capasso-crafts Street · 8 yrs held
Capasso-crafts Street
since 2018
2 recorded transactions
Zoning & alternative use
MAN · 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 submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newton 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
$21,405,000
Current use
RESTAURANT
$20,365,000
Change: -5% · Conversion: Moderate
AUTO REPAIR, GARAGE
$19,740,000
Change: -8% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$19,435,000
Change: -9% · Conversion: Difficult
RETAIL STORES
$18,910,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$14.83M
Range $13.34M – $16.31M · ±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
$211 / 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
$231,777
Tax year 2024
Assessed value
$12,644,700
Assessed 2024
Previous assessed
$13,134,600
-3.7% YoY
Effective rate
1.83%
On assessed value
Assessed land
$1,916,100
Assessed improvement
$10,728,600
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
5
Units
15
Rooms
50
Bathrooms
10
Total area
70,140 SF
Lot
1.12 ac (48,732 SF)
Zoning code
MAN
APN
NEWT S:14 B:023 L:0009
UPID
US38-1328168
Jurisdiction
NEWTON
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
MAN · Newton, MA
Zoning MAN · permitted uses
MAN · 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
$21.4M
RESTAURANT
Est. value
$20.4M
AUTO REPAIR, GARAGE
Est. value
$19.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$19.4M
RETAIL STORES
Est. value
$18.9M
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
5
Buildings
1
Units
15
Rooms
50
Bathrooms
10
Lot
1.12 ac
Current owner
From public records · entity-resolved
Capasso-crafts Street
Individual
Mailing address
49 LEXINGTON ST, NEWTON, MA 02465-1062
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
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
Jan 5, 2018
$13,900,000
Capasso-crafts Street
Chatham Int
Quit Claim Arm's Length For Ne States
$13,900,000 · Village Bank
May 2, 1989
—
Chatham Invt
—
Deed Of Trust
related
$5,000,000 · University Bank & Trust Co
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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