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

    62 Essex St, Unit 72 Boston, MA 02111-2122

    • Office buildings
    • 71,800 SF
    • 0.22 lot acres
    OFF-MARKET
    Value Estimations
    $23,370,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0875989
    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

    • Office buildings

    Property Details for 62 Essex St

    Year built
    1899
    Construction
    CONCRETE
    Lot size
    0.22 lot acres
    Property size
    71,800 SF
    Zone code
    C
    Property type
    Office buildings
    APN
    CBOS W:03 P:04510 S:000
    APU
    CBOSW03P04510S000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $17,669,000
      Market price range: $3.35M - $28.4M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $38,585,000
      COMMERCIAL (GENERAL)
      $34,580,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Boston
    County
    Suffolk
    State
    Massachusetts
    Longitude
    -71.0608
    Latitude
    42.3527
    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
    $512,645
    $5,139,400
    $15,147,300
    $20,286,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $530,000
      0.05 Acres

      15-17 Ave De Lafayette

      OFFICE BUILDING • 0.05 Acres
      15-17 Ave De Lafayette, Boston, MA 02111
      View Details
    • Value Estimation
      $42,930,000
      248,630 SF

      40-42 Tyler St

      OFFICE BUILDING • 248,630 SF
      40-42 Tyler St, Boston, MA 02111
      View Details
    • Value Estimation
      $5,250,000
      17,700 SF

      192-194 Ss St

      OFFICE BUILDING • 17,700 SF
      192-194 Ss St, Boston, MA 02111
      View Details
    • Value Estimation
      $41,590,000
      141,980 SF

      22 Chauncy St, Unit 40

      OFFICE BUILDING • 141,980 SF
      22 Chauncy St, Boston, MA 02111-2209
      View Details
    • Value Estimation
      $17,770,000
      70,060 SF

      195 Ss St, Unit 201

      OFFICE BUILDING • 70,060 SF
      195 Ss St, Boston, MA 02111-2703
      View Details
    • Value Estimation
      $1,165,000
      4,200 SF

      162-164 Lincoln St

      OFFICE BUILDING • 4,200 SF
      162-164 Lincoln St, Boston, MA 02111
      View Details

    Similar Nearby for Sale

    • $308,000
      449 SF

      Boston Office Condo - Lincoln St

      449 SF Vacant Office Condo, Prime Location
      200 Lincoln St, Boston, MA 02111
      View Details
    • Contact for pricing
      860 SF

      Chinatown Commercial Space For Sale

      Commercial space in Chinatown with high foot and car traffic.
      32 Kneeland St, Boston, MA 02111
      View Details
    • $320,000
      504 SF

      200 Lincoln St

      Office Properties & Spaces • 504 SF
      200 Lincoln St, Boston, MA 02111
      View Details
    • $989,000

      Leather District Commercial Loft Condo

      Spacious commercial loft condo in Boston's Leather District.
      130B Lincoln St, Boston, MA 02111
      View Details
    • $47,500
      0.23 Acres

      Deeded Garage Parking Spot

      Garage parking spot in the heart of Boston, near Boston Common.
      151 Tremont St, Boston, MA 02111
      View Details
    • $56,500
      0.23 Acres

      Deeded Parking Spot in Boston

      Garage parking spot in the heart of Boston Common area.
      151 Tremont St, Boston, MA 02111
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,492 SF

      Boston Financial District Office Space

      Office suites available in Boston's Financial District.
      695 Atlantic Ave, Boston, MA 02111
      View Details
    • $1,650 /Mo
      950 SF

      Corner Loft Office Studio

      Light-filled 950 SF loft near Boston's Financial District.
      118 South St, Boston, MA 02111
      View Details
    • $31 SF/Yr
      1,200 SF

      Kingston Street Shared Office Suite

      Shared office space with dedicated offices and convenient location.
      31-33 Kingston St, Boston, MA 02111
      View Details
    • Contact for pricing
      64,488 SF

      Office Space in Boston

      Available office space for rent in Boston, Massachusetts.
      55 Summer St, Boston, MA 02111
      View Details
    • Contact for pricing
      52,588 SF

      Downtown Office Space Sublease

      Sublease available in downtown Boston with open and private spaces.
      2 Avenue De Lafayette, Boston, MA 02111
      View Details
    • Contact for pricing
      5,599 SF

      Creative Office Space in Boston

      Unique creative office building in Downtown Boston with modern amenities.
      110 Chauncy St, Boston, MA 02111
      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.
    62 Essex St, Unit 72
    Boston, MA 02111-2122
    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.