Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    650 William T Morrissey Blvd, Unit 700 Dorchester, MA 02122-3521
    Back to Search
    Property profile & analytics

    650 William T Morrissey Blvd, Unit 700, Dorchester, MA 02122-3521

    View on Map
    • Automotive properties
    • 29,736 SF
    • 2.20 lot acres
    Off-Market
    Last Sale Oct 1, 2024
    $21,500,000
    Property ID
    US38-1842111
    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
    $21,500,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Automotive properties

    Property Details for 650 William T Morrissey Blvd

    Year built
    2007
    Construction
    BRICK
    Lot size
    2.20 lot acres
    Zone code
    C
    Property type
    Automotive properties
    APN
    DORC W:16 P:00222 S:000
    APU
    DORCW16P00222S000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 1, 2024 $21,500,000 Bocada Morrissey Blvd LLC Expressway Motors LLC Quit Claim Arm's Length For Ne States $1 · The Huntington National Bank
    Dec 19, 2016 — Expressway Motors LLC — Deed · related $3M · Wells Fargo Bank NA
    Jan 11, 2007 — Expressway Motors LLC — Deed Of Trust · related $21.7M · Citizens Bank Of Nh
    Apr 1, 2005 — Expressway Motors LLC — Deed Of Trust · related $1.7M · Citizens Bank Of Nh
    Jan 30, 2002 $3,550,000 Expressway Motors LLC R T Delaney Fmly LP Grant Deed $2.8M · Zuckerman Family Nomi
    Dec 21, 1999 $1,076,000 Richard T Delaney Columbia Pontiac Toyot Grant Deed $510k · Gary Needham

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $21,500,000
      ML approach
      $21,500,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $25,429,000
      Market price range: $8.15M - $25.4M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $17,495,000
      Current use
      RESTAURANT
      $20,010,000
      Change: +14% Conversion: Difficult
      OFFICE BUILDING
      $18,275,000
      Change: +4% Conversion: Difficult
      RETAIL STORES
      $15,980,000
      Change: -9% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $14,320,000
      Change: -18% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Dorchester
    County
    Suffolk
    State
    Massachusetts
    Longitude
    -71.0489
    Latitude
    42.2991
    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
    $170,262
    $2,568,000
    $4,169,700
    $6,737,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request

      6 Ashland St Ste

      RESIDENTIAL PARKING GARAGE
      6 Ashland St Ste, Dorchester, MA 02122-3574
      View Details
    • Value Estimation by Request

      23 Saranac St, Unit P2

      RESIDENTIAL PARKING GARAGE
      23 Saranac St, Dorchester, MA 02122-2664
      View Details
    • Value Estimation by Request

      23 Saranac St, Unit P3

      RESIDENTIAL PARKING GARAGE
      23 Saranac St, Dorchester, MA 02122-2664
      View Details
    • Value Estimation by Request

      6 Ashland St, Unit B

      RESIDENTIAL PARKING GARAGE
      6 Ashland St, Dorchester, MA 02122-3574
      View Details
    • Value Estimation by Request

      214 Westville St, Unit PS3

      RESIDENTIAL PARKING GARAGE
      214 Westville St, Dorchester, MA 02122-1455
      View Details
    • Value Estimation by Request
      1,968 SF

      761 Adams St

      SERVICE STATION (FULL SERVICE)
      761 Adams St, Dorchester, MA 02122-1919
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Upham's Corner Retail Opportunity

      2,100 SF retail space in Dorchester's vibrant Upham's Corner.
      8 Hancock St, Boston, MA 02122
      View Details
    • Contact for pricing
      8,998 SF

      Dorchester Mixed-Use Retail & Office

      9,000 SF mixed-use property near Fields Corner T stop.
      1485 Dorchester Ave, Dorchester, MA 02122
      View Details
    • Contact for pricing
      3,433 SF

      Retail Space Available For Sale

      Retail space with 3,433 SqFt available for sale.
      740 Gallivan Blvd, Boston, MA 02122
      View Details
    • Contact for pricing

      Meeting House Hill Triplex

      Three-family dwelling in need of updates near schools.
      65 Ridgewood St, Boston, MA 02122
      View Details
    • Contact for pricing
      3,303 SF

      Meeting House Hill Three-Family Home

      Three-family home near Ronan Park, convenient to transportation and amenities.
      29 Mount Ida Rd, Boston, MA 02122
      View Details
    • Contact for pricing
      3,303 SF

      Three-Unit Home on Meeting House

      Solid three-family home near Ronan Park and public transportation.
      29 Mount Ida Rd, Boston, MA 02122
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      High Profile Warehouse/Parking Opportunity

      Clean, dry, and secure warehouse/parking space in prime location.
      98 Gibson St, Boston, MA 02122
      View Details
    • Contact for pricing
      Pending

      Retail Space on High-Traffic Street

      Commercial space with open floor plan, kitchen, and two bathrooms.
      197 Bowdoin St, Boston, MA 02122
      View Details
    • Contact for pricing
      Pending

      Prime Dorchester Office/Retail Space

      1554 SF office/retail space in high-traffic Dorchester location.
      2 Neponset Ave, Boston, MA 02122
      View Details
    • Contact for pricing

      Flex Retail/Office Space Available

      657 sqft flex space, ideal for retail or office.
      408 Neponset Ave, Boston, MA 02122
      View Details
    • Contact for pricing

      Flex Retail/Office Space Available

      657 sqft retail/office space, great location, easy access.
      408 Neponset Ave, Boston, MA 02122
      View Details
    • Contact for pricing

      Dorchester Retail Space for Rent

      High-visibility retail space in Dorchester, available for immediate occupancy.
      2 Neponset Ave, Boston, MA 02122
      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.
    650 William T Morrissey Blvd, Unit 700
    Dorchester, MA 02122-3521
    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
    650 William T Morrissey Blvd, Dorchester, MA, 02122
    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!