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Property profile & analytics
FOR LEASE
Office buildings
60 Hickory Dr, Waltham, MA 02451
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US38-0565082
For Lease
1 / 2
$20,670,000
60 Hickory Dr, Waltham, MA 02451
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1967
Construction
STEEL FRAME
Total area
54,992 SF
Lot
2.45 ac (106,752 SF)
APN
WALT M:039 B:002 L:0015
UPID
US38-0565082
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
-
Independence Insurance Group Insurance Agency
-
Aberdeen Group Corporate Office
-
Omicron Electronics Corporation USA Production Facility
-
CareScout Home Health Care Service Professional Services
-
Aberdeen Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$28.64M
Comparable Approach
Comparable
$19.88M
Blend (final)
Blend
$20.67M
Owner & transaction history
Azad Hickory 2 LLC · 6 yrs held
Azad Hickory 2 LLC
since 2020
Last sale
$20.5M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Waltham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waltham 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
$21,810,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$31,020,000
6.5%
$28,635,000
7%
$26,590,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$17,545,000
Current use
COMMERCIAL (GENERAL)
$15,985,000
Change: -9% · Conversion: Easy
RESTAURANT
$15,965,000
Change: -9% · Conversion: Moderate
AUTO REPAIR, GARAGE
$15,480,000
Change: -12% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$15,235,000
Change: -13% · Conversion: Difficult
RETAIL STORES
$14,825,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$20.67M
Range $18.60M – $22.74M · ±10% · vs last sale $20.50M (Jul 2 2020)
Last sale anchor
$20.50M
Jul 2 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
$376 / 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
$266,397
Tax year 2024
Assessed value
$12,863,200
Assessed 2024
Previous assessed
$12,863,200
+0.0% YoY
Effective rate
2.07%
On assessed value
Assessed land
$3,273,000
Assessed improvement
$9,590,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Lease
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
1967
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
6
Units
1
Bathrooms
18
Total area
54,992 SF
Lot
2.45 ac (106,752 SF)
APN
WALT M:039 B:002 L:0015
UPID
US38-0565082
Jurisdiction
WALTHAM
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$17.5M
COMMERCIAL (GENERAL)
Est. value
$16.0M
RESTAURANT
Est. value
$16.0M
AUTO REPAIR, GARAGE
Est. value
$15.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$15.2M
RETAIL STORES
Est. value
$14.8M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1967
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
Yes
Stories
6
Buildings
1
Units
1
Bathrooms
18
Lot
2.45 ac
Current owner
From public records · entity-resolved
Azad Hickory 2 LLC
Entity
Mailing address
10 POST OFC SQ, BOSTON, MA 02109-4603
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2020
$12,050,000
Azad Hickory 2 LLC
Taurus Cd 173 Bear Hill
Quit Claim Deed
$9,828,000 · Cambridge Tr
Jul 18, 2014
$32,500,000
Taurus Cd Bear Hl Prtf
King Waltham LLC
Quit Claim Deed
related
$24,700,000 · Brookline Bank
Oct 5, 2006
$20,500,000
King Waltham LLC
Bear Hill Inv Corp
Grant Deed
$30,500,000 · Worth Funding INC
May 14, 2001
—
Bear Hill Inv Corp
—
Deed Of Trust
related
$6,050,000 · Sun Life Assurance Co
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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