Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    587 Albany St Boston, MA 02118-2513

    • Showrooms
    • 5,382 SF
    • 0.04 lot acres
    OFF-MARKET
    Last Sale
    Aug 25, 2022
    $2,700,000
    Value Estimations
    $2,220,000
    Show details
    Cap Rate Potential
    4.9%
    Showrooms
    Location Intelligence
    Property ID
    US38-0990224
    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

    • Albany Street Wholesale / Big Box & Wholesale Store
    • Peacepath Inc. / (Bike/Boat/Book/etc) Store / Florist
    • Pontian Society Panagia Soumela / Charitable Organization / Social Service Agency

    Property Details for 587 Albany St

    Year built
    1900
    Construction
    BRICK
    Lot size
    0.04 lot acres
    Property size
    5,382 SF
    Zone code
    C
    Property type
    Showrooms
    APN
    CBOS W:08 P:01173 S:000
    APU
    CBOSW08P01173S000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,240,000
      ML approach
      $2,185,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,835,000
      6.5%
      $1,695,000
      7%
      $1,575,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,790,000
      Market price range: $1.79M - $5.26M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,420,000
      Current use
      RESTAURANT
      $3,620,000
      Change: +6% Conversion: Difficult
      OFFICE BUILDING
      $3,310,000
      Change: -3% Conversion: Easy
      AUTO REPAIR, GARAGE
      $3,165,000
      Change: -7% Conversion: Difficult
      RETAIL STORES
      $2,890,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Boston
    County
    Suffolk
    State
    Massachusetts
    Longitude
    -71.0683
    Latitude
    42.3375
    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
    $16,890
    $181,300
    $487,100
    $668,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,240,000
      10,407 SF

      980 Massachusetts Ave

      SHOW ROOM, WAREHOUSE • 10,407 SF
      980 Massachusetts Ave, Boston, MA 02118-2698
      View Details
    • Value Estimation
      $3,030,000
      6,206 SF

      42 Newmarket Sq

      SHOW ROOM, WAREHOUSE • 6,206 SF
      42 Newmarket Sq, Boston, MA 02118-2601
      View Details
    • Value Estimation
      $12,360,000
      57,000 SF

      962 Massachusetts Ave, Unit 968

      SHOW ROOM, WAREHOUSE • 57,000 SF
      962 Massachusetts Ave, Boston, MA 02118-2606
      View Details
    • Value Estimation
      $1,475,000
      7,980 SF

      52 Plympton St

      SHOW ROOM, WAREHOUSE • 7,980 SF
      52 Plympton St, Boston, MA 02118-2425
      View Details
    • Value Estimation
      $6,665,000
      44,400 SF

      575 Albany St

      SHOW ROOM, WAREHOUSE • 44,400 SF
      575 Albany St, Boston, MA 02118
      View Details
    • Value Estimation
      $4,195,000
      20,920 SF

      18-20 Newmarket Sq

      SHOW ROOM, WAREHOUSE • 20,920 SF
      18-20 Newmarket Sq, Boston, MA 02118
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,000 SF

      Retail/Showroom Space Near Downtown Boston

      Retail/Showroom space near downtown Boston and major transportation routes.
      875 Massachusetts Ave, Boston, MA 02118
      View Details
    • $11,800,000

      South End Mixed-Use Portfolio

      Residential and retail units in Boston's South End neighborhood.
      6-14 Union Park St, Boston, MA 02118
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space with Basement

      Retail space with basement in Harrison Ave, Boston.
      811 Harrison Ave, Boston, MA 02118
      View Details
    • Contact for pricing
      9,953 SF

      Development Opportunity Near Transit

      Two parcels totaling 0.567 acres near public transportation.
      3875 Washington St, Boston, MA 02118
      View Details
    • $130,000
      1 SF

      Garage Parking Space in SOWA

      Garage parking space for sale in Boston's South End.
      40 Fay St, Boston, MA 02118
      View Details
    • $149,000

      Ultra-Wide Parking Spaces For Sale

      Two ultra-wide parking spaces for car enthusiasts in Boston.
      25 Savoy Pkg, Boston, MA 02118
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,628 SF

      Retail Space in South End

      Retail space available for rent in Boston's South End.
      1365 Washington Street Pl, Boston, MA 02118
      View Details
    • Contact for pricing
      3,628 SF

      Renovated Retail Space For Rent

      Newly renovated ground floor retail space with parking available.
      1361-1375 Washington St, Boston, MA 02118
      View Details
    • Contact for pricing

      Retail Space on Washington Street

      Street-level retail space in Boston's South End available now.
      Boston, MA 02118
      View Details
    • Contact for pricing
      2,582 SF

      Tremont Street Retail/Office Space

      First floor retail/office space available now in Boston.
      801 Tremont St, Boston, MA 02118
      View Details
    • $6,000 /Mo

      Retail Space in South End

      1500 sq ft retail space in Boston's South End.
      629 Tremont St, Boston, MA 02118
      View Details
    • $45 SF/Yr

      Norwell Commercial Space For Rent

      Commercial space on Route 53 suitable for medical/office/retail use.
      127 Washington St, Norwell, MA 02118
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    587 Albany St
    Boston, MA 02118-2513
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.