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

    365 Elliot St, Unit 381 Newton, MA 02464-1126

    • Office buildings
    • 97,189 SF
    • 4.29 lot acres
    OFF-MARKET
    Value Estimations
    $19,520,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1882788
    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

    • Office buildings

    Property Details for 365 Elliot St

    Year built
    1875
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.29 lot acres
    Property size
    97,189 SF
    Zone code
    MAN
    Property type
    Office buildings
    APN
    NEWT S:51 B:001 L:0006
    APU
    NEWTS51B001L0006

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $20,662,000
      Market price range: $20.7M - $41.6M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $29,660,000
      Current use
      RESTAURANT
      $28,215,000
      Change: -5% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $27,355,000
      Change: -8% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $26,930,000
      Change: -9% Conversion: Difficult
      RETAIL STORES
      $26,200,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.2255
    Latitude
    42.3135
    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
    $202,525
    $5,916,700
    $5,132,100
    $11,048,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $7,700,000
      38,740 SF

      44 Mechanic St

      OFFICE BUILDING • 38,740 SF
      44 Mechanic St, Newton, MA 02464-1499
      View Details
    • Value Estimation
      $2,225,000
      10,000 SF

      29 Tower Rd

      OFFICE BUILDING • 10,000 SF
      29 Tower Rd, Newton, MA 02464-1510
      View Details
    • Value Estimation
      $765,000
      1,377 SF

      981 Chestnut St

      OFFICE BUILDING • 1,377 SF
      981 Chestnut St, Newton, MA 02464-1101
      View Details
    • Value Estimation
      $1,615,000
      7,427 SF

      1215 Chestnut St, Unit 1223

      OFFICE BUILDING • 7,427 SF
      1215 Chestnut St, Newton, MA 02464-1308
      View Details
    • Value Estimation
      $27,285,000
      202,431 SF

      156 Oak St

      OFFICE BUILDING • 202,431 SF
      156 Oak St, Newton, MA 02464-1440
      View Details
    • Value Estimation
      $2,150,000
      7,884 SF

      112 Needham St

      OFFICE BUILDING • 7,884 SF
      112 Needham St, Newton, MA 02464-1500
      View Details

    Similar Nearby for Sale

    • $349,000

      Retail/Office Space on Elliot Street

      Versatile retail or office space with high visibility.
      2A Hale St, Newton, MA 02464
      View Details
    • $375,000
      0.17 Acres

      Newton MA Commercial Space

      Prime Newton Location, High Visibility
      Hale St, Newton, MA 02464
      View Details
    • $5,995,000
      38,200 SF

      Commercially Zoned Land For Sale

      Commercially zoned property with development potential in Newton, Massachusetts.
      103 Thurston Rd, Newton, MA 02464
      View Details
    • $48,000

      Established Dry Cleaner Business

      Long-established dry cleaner, laundry, and tailor business for sale.
      1 Confidential St, Newton, MA 02464
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,189 SF

      Brookline Office Building For Rent

      Six-story, 54,000 SF office building in Chestnut Hill area.
      1330 Boylston St, Chestnut Hill, MA 02464
      View Details
    • Contact for pricing
      2,000 SF

      Professional Office Building in Newton

      Two-story office building with ample parking and convenient location.
      1191 Chestnut St, Newton Upper Falls, MA 02464
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    • Contact for pricing
      1,571 SF

      Renovated Mill Office Space

      Office space in a renovated mill building near Charles River.
      377-397 Elliot St, Newton Upper Falls, MA 02464
      View Details
    • $33 SF/Yr
      12,434 SF

      Newton Creative Office Space

      Middlesex County, MA: 5 Suites Available
      233 Needham St, Newton, MA 02464
      View Details
    • Contact for pricing
      20,961 SF

      Newton Flex Space: 153 Needham St

      Middlesex County, MA: Prime Flex Space Available
      153 Needham St, Newton, MA 02464
      View Details
    • $34 SF/Yr
      3,825 SF

      Full Floor Office/Medical Space

      3825 SF office/medical space available for rent.
      180 Needham St, Newton, MA 02464
      View Details
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    365 Elliot St, Unit 381
    Newton, MA 02464-1126
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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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