74 Bedford St, Unit 1A Lexington, MA 02420-4638
- Commercial real estate
- 1,012 SF
- 0.02 lot acres
Current Use by Public Records
- Garage Doors Lexington Experts / Garage Door Supplier
- Helen Hellstrom - Personal Insurance Producer at WTPhelan / Insurance Company / Motorcycle Insurance Agency
- Fessenden & Sykes Insurance / Insurance Agency
- Lexington Financial Group / Financial Planner
- Lisnet / Software Company
Property Details for 74 Bedford St
- Year built
- 1986
- Lot size
- 0.02 lot acres
- Property size
- 1,012 SF
- Zone code
- CRS
- Property type
- Commercial real estate
- APN
- LEXI M:0057 L:080-1A
- APU
- LEXIM0057L0801A
Description
This exceptional three-story, 40,000-square-foot Class B office building, located in Lexington, Middlesex County, presents a unique single-tenant opportunity. Constructed in 1985 and extensively renovated in 2021, the property boasts a modern aesthetic while retaining its classic charm. The building features a total of 40,000 square feet across three stories, with a single tenant currently occupying 1,940 square feet. The available space offers a flexible layout ideal for a variety of business needs. Key features include eight private offices, four bathrooms, and two well-appointed conference rooms, perfect for collaborative work and client meetings. The building's location near Worthen Street provides excellent accessibility and visibility. While the basement offers storage space, it is not included in the current lease. This property represents a compelling investment opportunity in a thriving Lexington location, offering a blend of classic architecture and modern functionality. The 2021 renovation ensures modern amenities and systems are in place, minimizing future capital expenditure needs. The single-tenant occupancy simplifies management and provides a stable income stream. This is a rare opportunity to acquire a well-maintained, updated office building in a desirable location.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $245,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $280,000
- 6.5%
- $255,000
- 7%
- $240,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $253,000
- AI Estimate
- $265,000
Market price range: $131k - $418kMarket price range: $146k - $359k -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $260,000 Current use
- AUTO REPAIR, GARAGE
- $285,000 Change: +9% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $280,000 Change: +7% Conversion: Difficult
- RETAIL STORES
- $275,000 Change: +4% Conversion: Easy
- OFFICE BUILDING
- $235,000 Change: -10% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Lexington
- County
- Middlesex
- State
- Massachusetts
- Longitude
- -71.2334
- Latitude
- 42.4538
- CBSA code
- 14460
- CBSA name
- BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA