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    338 Newbury St Boston, MA 02116
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    338 Newbury St Boston, MA 02116

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    • Retail space
    • 15,198 SF
    • 0.13 lot acres
    For Lease
    $3,560,000
    View Listing →
    Newbury Street Office Loft Opportunity For Lease
    $3,560,000
    20,264 SF

    Newbury Street Office Loft Opportunity

    Full floor office loft with natural light and high ceilings.

    338 Newbury Street, Boston, MA 2116
    View Listing
    Property ID
    US38-1458193
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • TITLE Boxing Club Newbury St. / Gym & Fitness Center / Sports School
    • Trident Booksellers & Cafe / (Bike/Boat/Book/etc) Store
    • Amalgam / Marketing & Advertising / Advertising Agency
    • TITLE Boxing Club Boston Newbury Street / Gym & Fitness Center / Sports School
    • LM Browning / Publishing House

    Property Details for 338 Newbury St

    Year built
    1899
    Construction
    BRICK
    Lot size
    0.13 lot acres
    Property size
    15,198 SF
    Zone code
    C
    Property type
    Retail space
    APN
    CBOS W:05 P:03053 S:000
    APU
    CBOSW05P03053S000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,865,000
      6.5%
      $4,495,000
      7%
      $4,170,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Boston
    County
    Suffolk
    State
    Massachusetts
    Longitude
    -71.0866
    Latitude
    42.3483
    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
    $255,500
    $3,844,300
    $6,266,500
    $10,110,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,545,000
      8,076 SF

      334 Massachusetts Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,076 SF
      334 Massachusetts Ave, Boston, MA 02115-2234
      View Details
    • Value Estimation
      $3,760,000
      13,951 SF

      351-351A Newbury St

      RETAIL STORES (PERSONAL SERVICES) • 13,951 SF
      351-351A Newbury St, Boston, MA 02115
      View Details
    • Value Estimation
      $1,190,000
      5,280 SF

      332-334A Newbury St

      RETAIL STORES (PERSONAL SERVICES) • 5,280 SF
      332-334A Newbury St, Boston, MA 02115
      View Details
    • Value Estimation
      $595,000
      2,865 SF

      304 Newbury St

      RETAIL STORES (PERSONAL SERVICES) • 2,865 SF
      304 Newbury St, Boston, MA 02115-2839
      View Details
    • Value Estimation
      $1,605,000
      6,508 SF

      297 Newbury St

      RETAIL STORES (PERSONAL SERVICES) • 6,508 SF
      297 Newbury St, Boston, MA 02115-2814
      View Details
    • Value Estimation
      $13,315,000
      70,365 SF

      359-363 Newbury St

      RETAIL STORES (PERSONAL SERVICES) • 70,365 SF
      359-363 Newbury St, Boston, MA 02115
      View Details

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      Somerset Parking Garage Space Available

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      Somerset Parking Garage Space

      Covered parking space available for rent with 24-hour access.
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    • $250,000

      Prime Boston Liquor License

      Full Liquor License - $250,000
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      1,028 SF

      New Back Bay Storefront

      Newly renovated commercial condo in the heart of Back Bay.
      169 Newbury St, Boston, MA 02115
      View Details
    • Contact for pricing
      1,073 SF

      Retail Space on Newbury Street

      Prime retail space with high foot traffic and excellent frontage.
      301 Newbury St, Boston, MA 02115
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    • Contact for pricing
      1,760 SF

      Prime Retail Space on Newbury

      Retail space in Back Bay near Prudential and Hynes Centers.
      334 Newbury St, Boston, MA 02115
      View Details
    • $1.00 SF/Yr

      Retail Space on Newbury Street

      Prime retail space available on the corner of Newbury Street.
      35 Newbury St, Boston, MA 02115
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    • $125 SF/Yr

      Unique Commercial Space on Boylston

      Rare commercial space with high ceilings and ample natural light.
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    • Contact for pricing

      Retail Space Near Berklee College

      Retail space for rent, located near Berklee College of Music.
      180 Massachusetts Avenue Brg, Boston, MA 02115
      View Details

    Property Visit Statistics

    • Visits by month
      20.0k
    • Visitors by month
      22.5k
    • Avg Time on site
      34 min
    View Listing
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    Boston, MA 02116
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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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