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FOR LEASE
Life science properties
4 Preston Ct, Bedford, MA 01730-2356
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US38-0248099
For Lease
1 / 33
$5,090,000
4 Preston Ct, Bedford, MA 01730-2356
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Property summary
AI-generated overview
This exceptional investment opportunity presents a 24,751+/- square foot, two-story Class B office building situated on a 1.38-acre lot in Bedford, Massachusetts (01730), at 4 Preston Ct. The property, built in 1974 and renovated in 1999, features 13,280 square feet of net rentable space currently 68% occupied across six units. The flexible layout is ideal for office, R&D, lab, biotech, or light manufacturing uses, supported by a 4,500 lb capacity passenger/freight elevator. The IND-B zoning allows for a variety of uses. Ample parking is provided at a rate of 3.64 spaces per 1,000 square feet. This multi-tenant property benefits from its strategic location near Lexington's Hartwell Avenue, offering easy access to Routes 2, 3, 128, and 225, as well as proximity to Hanscom Air Force Base and the Minuteman Bike Path. The area boasts a dense concentration of highly skilled professionals (approximately 16,053 within a 3-mile radius), with notable neighbors including Thermo Fisher Scientific, Stoke, Diversified Technologies, Cubic PV, and UCB. The property is also surrounded by conservation land, creating a desirable work environment. A recent Thermo Fisher Scientific lease renewal underscores the location's appeal. The significant vacancy presents an opportunity to increase net operating income (NOI) through leasing or owner-occupancy. This property offers a compelling combination of location, flexibility, and growth potential.
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1971
Construction
STEEL FRAME
Total area
24,360 SF
Lot
1.38 ac (60,056 SF)
Zoning code
IND
APN
BEDF M:072 P:0015-A
UPID
US38-0248099
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
-
Cutting Edge Texstyles Textile Engineer
-
A2Z Garage Door Repair & Springs Replacement Building Supply General Contractor
-
Forrest Behavioral Health Medical Clinic
-
Data Dynamics Inc Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.93M
Blend (final)
Blend
$5.09M
Owner & transaction history
Preston Court LLC · 6 yrs held
Preston Court LLC
since 2020
Last sale
$4.9M
7 recorded transactions
Zoning & alternative use
IND · Bedford, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.1M
+78.1%
Auto repair, garage
$6.9M
+72.7%
Neighborhood: shopping center
$6.8M
+70.0%
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 Bedford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bedford 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
$5,320,000
ML approach
$5,245,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL
$3,970,000
Current use
RESTAURANT
$7,070,000
Change: +78% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,855,000
Change: +73% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,750,000
Change: +70% · Conversion: Difficult
RETAIL STORES
$6,565,000
Change: +65% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,295,000
Change: +59% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,615,000
Change: +41% · Conversion: Difficult
OFFICE BUILDING
$5,330,000
Change: +34% · Conversion: Difficult
Blend value · Realmo final
$5.09M
Range $4.58M – $5.60M · ±10% · vs last sale $4.90M (Feb 27 2020)
Last sale anchor
$4.90M
Feb 27 2020
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
$209 / 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
$97,257
Tax year 2024
Assessed value
$3,642,600
Assessed 2024
Previous assessed
$3,642,600
+0.0% YoY
Effective rate
2.67%
On assessed value
Assessed land
$840,800
Assessed improvement
$2,801,800
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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
For Lease
Year built
1971
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
6
Bathrooms
4
Total area
24,360 SF
Lot
1.38 ac (60,056 SF)
Zoning code
IND
APN
BEDF M:072 P:0015-A
UPID
US38-0248099
Jurisdiction
BEDFORD
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
IND · Bedford, MA
Zoning IND · permitted uses
IND · Bedford, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bedford. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL Current
Est. value
$4.0M
RESTAURANT
Est. value
$7.1M
AUTO REPAIR, GARAGE
Est. value
$6.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.8M
RETAIL STORES
Est. value
$6.6M
COMMERCIAL (GENERAL)
Est. value
$6.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.6M
OFFICE BUILDING
Est. value
$5.3M
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
1971
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
6
Bathrooms
4
Lot
1.38 ac
Current owner
From public records · entity-resolved
Preston Court LLC
Entity
Mailing address
19 FRANCIS ST, NORTH READING, MA 01864-3121
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 20, 2021
—
Preston Court LLC
—
Deed
related
$400,000 · Enterprise Bank & Trust Co
Feb 27, 2020
$4,900,000
Preston Court LLC
Bedford Kv LLC
Quit Claim Arm's Length For Ne States
$3,675,000 · Enterprise Bank & Trust Co
Jul 24, 2013
—
Ventures Bedford 1 Koda
—
Deed Of Trust
related
$2,205,000 · Sovereign Bank
Nov 17, 2010
$2,950,000
Koda Ventures Bedford LLC
4 Preston LLC
Grant Deed
$2,212,500 · Boston Private Bank
Sep 12, 2007
$800,000
4 Preston LLC
4 Preston Court LLC
Grant Deed
—
Nov 16, 2000
—
4 Preston Ct LLC
—
Deed Of Trust
related
$7,300,000 · Heller Fncl INC
Jul 29, 1999
$1,625,000
4 Preston Ct LLC
New Boston Aca LP
Grant Deed
—
Dec 23, 1998
$1,400,000
New Boston Aca LP
Principal Life Ins Co
Grant Deed
—
May 10, 1991
—
Albeco Invest LP
—
Deed Of Trust
related
$1,835,000 · Principal Mutual Life Ins
Sep 14, 1987
—
Albeco Invest LP
—
Deed Of Trust
related
$1,835,000 · Zuckerman Family Nomi
Jun 26, 1987
$2,290,000
Albeco Investment Ltd
Unicorp American
Grant Deed
—
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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