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Property profile & analytics
FOR LEASE
Office buildings
450 Bedford St, Lexington, MA 02421
Entity Owned
29-yr Hold
~
Est. High Equity
Property ID
US38-0517608
For Lease
1 / 2
$9,565,000
450 Bedford St, Lexington, MA 02421
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1981
Construction
STEEL FRAME
Total area
42,288 SF
Lot
11.39 ac (496,148 SF)
Zoning code
CM
APN
LEXI M:0084 L:00041G
UPID
US38-0517608
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
-
Boston IVF Medical Clinic
-
Samuel Pang, MD - Boston IVF Physician
-
ConstructSecure (Bike/Boat/Book/etc) Store Corporate Office
-
Wingate Wealth Advisors, LLC Financial Advisor
-
Women's Financial Help Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.56M
Blend (final)
Blend
$9.57M
Owner & transaction history
Bedford St. LP · 29 yrs held
Bedford St. LP
since 1996
7 recorded transactions
Zoning & alternative use
CM · Lexington, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$12.3M
+24.3%
Auto repair, garage
$11.9M
+20.5%
Neighborhood: shopping center
$11.7M
+18.6%
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 Lexington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lexington 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
$9,875,000
Current use
RESTAURANT
$12,275,000
Change: +24% · Conversion: Moderate
AUTO REPAIR, GARAGE
$11,900,000
Change: +21% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$11,715,000
Change: +19% · Conversion: Difficult
RETAIL STORES
$11,400,000
Change: +15% · Conversion: Moderate
COMMERCIAL (GENERAL)
$10,930,000
Change: +11% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$9,745,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$9.57M
Range $8.61M – $10.52M · ±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
$226 / 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
$157,082
Tax year 2024
Assessed value
$6,491,000
Assessed 2024
Previous assessed
$6,485,000
+0.1% YoY
Effective rate
2.42%
On assessed value
Assessed land
$3,416,000
Assessed improvement
$3,075,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1981
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
YES
Buildings
1
Stories
3
Units
1
Rooms
1
Total area
42,288 SF
Lot
11.39 ac (496,148 SF)
Zoning code
CM
APN
LEXI M:0084 L:00041G
UPID
US38-0517608
Jurisdiction
LEXINGTON
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
CM · Lexington, MA
Zoning CM · permitted uses
CM · Lexington, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lexington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$9.9M
RESTAURANT
Est. value
$12.3M
AUTO REPAIR, GARAGE
Est. value
$11.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$11.7M
RETAIL STORES
Est. value
$11.4M
COMMERCIAL (GENERAL)
Est. value
$10.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.7M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1981
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
3
Buildings
1
Units
1
Rooms
1
Lot
11.39 ac
Current owner
From public records · entity-resolved
Bedford St. LP
Entity
Mailing address
116 FLANDERS RD STE #2000, WESTBOROUGH, MA 01581-1072
Ownership since
1996
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 15, 2020
—
Bedford St LLC
—
Deed
related
$5,000,000 · Carruth Partners LLC
Oct 22, 2018
—
Bedford Street LLC
—
Deed
related
$5,000,000 · Carruth Partners LLC
Oct 3, 2012
—
Bedford Street LLC
—
Deed Of Trust
related
$3,000,000 · Carruth Partners LLC
Sep 15, 2009
—
Bedford Street LLC
—
Deed Of Trust
related
$3,000,000 · Carruth Partners LLC
Dec 31, 2008
—
Bedford Street LLC
—
Deed Of Trust
related
$2,460,000 · Carruth Partners LLC
Dec 11, 1998
—
Bedford St. LP
—
Deed Of Trust
related
$3,700,000 · Zuckerman Family Nomi
Sep 26, 1996
$4,075,000
Bedford St. LP
John Hancock Mutual Lf
Grant Deed
$3,667,500 · Zwi Kohorn
Oct 29, 1992
$3,198,848
John Hancock Life Ins
Colangelo Michael Est
Grant Deed
—
—
—
Bedford Street LLC
—
Deed Of Trust
related
$5,000,000 · Carruth Partners LLC
—
—
Bedford Street LLC
—
Deed Of Trust
related
$5,000,000 · Carruth Partners LLC
—
—
Bedford St LLC
—
Deed Of Trust
related
$5,000,000 · Carruth Partners LLC
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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