450 Lexington St 204 Newton, MA 02466
Office Spaces
Google Maps
Entity Owned
6-yr Hold
~
Est. High Equity
For Sale
1 / 10
$740,000
450 Lexington St,Unit 204, Newton, MA 02466
View Listing →
Estimated value (blended)
$540k
Range $486k – $594k (±10%)
Property ID
US38-0736458
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1985
Total area
1,738 SF
Lot
1.04 ac (45,473 SF)
Zoning code
BU2
APN
NEWT S:44 B:025 L:0004F
UPID
US38-0736458
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$739k
Blend (final)
Blend
$540k
Owner & transaction history
since 2019
6 recorded transactions
Zoning & alternative use
BU2 · Auburndale, MA
Top alternative use upside
Commercial (general)
$730,000
+37.9%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 24 comparables with addresses
5 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$540k
Value range
$486k – $594k
±10% around blend
Estimated value / SF
$311 / SF
Confidence
High
24 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
100
Income certainty
100
$486k
blend $540k
$594k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
1,738 SF
Lot area
1.04 ac
Year built
1985
Stories
1
APN
NEWT S:44 B:025 L:0004F
Assessed value
$609,000
Annual tax
$11,163
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$11,163
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$543k
Weighted, 20 comps · high confidence
Evidence
24 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
9.5 mi away · 1,309 SF
10.0 mi away · 1,632 SF
10.1 mi away · 1,280 SF
11.9 mi away · 1,901 SF
14.1 mi away · 1,512 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$540k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 36 sales
$305
+2%
County 858 sales
$219
+42%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $311/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+38%
vs current-use indication
Office Building · current use
Auto Repair, Garage
Neighborhood: Shopping Center
Retail Stores
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 24 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
7.45%
Selected cap rate for this office spaces
Derived from the Newton market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 7.45%
9.0%
NOI (est.)
$55k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$740k
Move the market yield to see immediate price impact.
Value / SF
$426
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
6.95%7.45%7.95%
$50k
$714k
$666k
$624k
$55k
$793k
$740k
$694k
$61k
$873k
$814k
$763k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
24 found
High confidence · county-verified
Closest comparable
$340k
8.4 mi · Feb 2026 · $254/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$11,163
Tax year 2024
Assessed value
$609,000
Assessed 2024
Previous assessed
$609,000
+0.0% YoY
Effective rate
1.83%
On assessed value
Assessed improvement
$609,000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
For Sale
Year built
1985
Heating
HEAT PUMP
Cooling
YES
Buildings
1
Stories
1
Rooms
1
Total area
1,738 SF
Lot
1.04 ac (45,473 SF)
Zoning code
BU2
APN
NEWT S:44 B:025 L:0004F
UPID
US38-0736458
Jurisdiction
NEWTON
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
BU2 · Auburndale, MAZoning BU2 · permitted uses
BU2 · Auburndale, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1985
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
1
Rooms
1
Lot
1.04 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
BU2
Jurisdiction
Auburndale, MA
Recorded code
BU2
Ownership Intelligence
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Owner identityResolved entity and name variants
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Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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