Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    60 Austin St Newton, MA 02460-1857
    Back to Search
    Property profile & analytics

    60 Austin St, Newton, MA 02460-1857

    View on Map
    • Office buildings
    • 15,450 SF
    • 0.55 lot acres
    Off-Market
    Last Sale Dec 2, 2021
    $7,000,000
    Property ID
    US38-1206395
    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.
    Value Estimations
    $6,720,000
    Show details
    Cap Rate Potential
    8.1%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Russian School of Mathematics - West Newton / High School
    • Jeffrey C. Carlson, PT / Medical Clinic
    • Bob Gifford Video Production Services of Boston / Film Production / Television Studio
    • NEB Mortgage - Newton Branch / Bank / Loan Service
    • ewaldorfmediation / Mediation Service

    Property Details for 60 Austin St

    Year built
    1970
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.55 lot acres
    Zone code
    BU5
    Property type
    Office buildings
    APN
    NEWT S:24 B:009 L:0009
    APU
    NEWTS24B009L0009

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 2, 2021 $7,000,000 60 Austin Street LLC L&b RT Quit Claim Arm's Length For Ne States —
    Jul 22, 2020 — L&b RT — Deed · related $500k · Enterprise Bank & Trust Co
    Mar 13, 2014 — L RT — Deed Of Trust · related $610k · Century Bank & Trust Co
    Sep 11, 2003 — L RT — Deed Of Trust · related $500k · Sovereign Bank
    Jun 29, 1994 $900,000 L RT Sechrest,robert C Grant Deed $660k · Shawmut

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,430,000
      ML approach
      $6,460,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,715,000
      6.5%
      $8,045,000
      7%
      $7,470,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,715,000
      Current use
      COMMERCIAL (GENERAL)
      $6,500,000
      Change: +38% Conversion: Easy
      RESTAURANT
      $4,485,000
      Change: -5% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $4,350,000
      Change: -8% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $4,280,000
      Change: -9% Conversion: Difficult
      RETAIL STORES
      $4,165,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.2096
    Latitude
    42.3501
    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
    $53,667
    $1,127,500
    $1,800,300
    $2,927,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $7,555,000
      36,251 SF

      246 Walnut St Ste, Unit 254

      OFFICE BUILDING
      246 Walnut St Ste, Newton, MA 02460-1639
      View Details
    • Value Estimation
      $1,210,000
      5,650 SF

      80 Bowers St, Unit 86

      OFFICE BUILDING
      80 Bowers St, Newton, MA 02460-1903
      View Details
    • Value Estimation
      $6,745,000
      7,914 SF

      46 Austin St Ste, Unit 48

      OFFICE BUILDING
      46 Austin St Ste, Newton, MA 02460-1862
      View Details
    • Value Estimation
      $2,650,000
      12,444 SF

      459 Watertown St

      OFFICE BUILDING
      459 Watertown St, Newton, MA 02460-1465
      View Details
    • Value Estimation
      $8,340,000
      41,610 SF

      288 Walnut St

      OFFICE BUILDING
      288 Walnut St, Newton, MA 02460-1948
      View Details
    • Value Estimation
      $1,985,000
      9,175 SF

      439 Newtonville Ave

      OFFICE BUILDING
      439 Newtonville Ave, Newton, MA 02460-1926
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Established Restaurant Business For Sale

      Operating restaurant for sale in Newton, Massachusetts.
      197 North St, Newton, MA 02460
      View Details
    • Contact for pricing
      14,485 SF

      Newton Retail and Land Opportunity

      Prime Newton location with development potential near public transit.
      823-833 Washington St, Newton, MA 02460
      View Details
    • Contact for pricing

      Newton Mixed-Use Development Opportunity

      Mixed-use property near transit with development potential in Newton, MA.
      823-833 Washington St, Newton, MA 02460
      View Details
    • Contact for pricing

      Established Restaurant Business For Sale

      Operating restaurant with loyal customer base in Newton, Massachusetts.
      197 North St, Newton, MA 02460
      View Details
    • Contact for pricing
      14,485 SF

      Newton Retail Investment Opportunity

      Fully occupied retail property near Newtonville MBTA station.
      823-833 Washington St, Newton, MA 02460
      View Details
    • New
      Contact for pricing
      14,485 SF

      Corner Retail and Income Property

      Corner retail and income building with 100% occupancy and VC3 zoning allowing development up to 4.5 stories.
      823-833 Washington St, Newton, MA 02460
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      650 SF

      Newton Office Space For Rent

      Office unit available for lease in Newton, Massachusetts.
      288 Walnut St, Newton, MA 02460
      View Details
    • Contact for pricing
      4,013 SF

      Retail/Office Space on Walnut Street

      4,013 SF retail or office space with parking.
      330 Walnut St, Newton, MA 02460
      View Details
    • Contact for pricing
      650 SF

      Converted Office Building Suite

      Four-room office suite in converted building with convenient transit access.
      288 Walnut St, Newton, MA 02460
      View Details
    • Contact for pricing
      2,000 SF

      Renovated Office Space in Newtonville

      Renovated office space near commuter rail, Newtonville.
      288 Walnut St, Newton, MA 02460
      View Details
    • Contact for pricing
      1,000 SF

      Renovated Office Space in Newtonville

      Multiple office spaces available in renovated Newtonville building.
      288 Walnut St, Newton, MA 02460
      View Details
    • Contact for pricing
      700 SF

      Office Suite in Converted Church

      First-floor office suite in Newton, near transportation and amenities.
      288 Walnut St, Newton, MA 02460
      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.
    60 Austin St
    Newton, MA 02460-1857
    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

    Thank You for Inquiry
    60 Austin St, Newton, MA, 02460
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!