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

    971 Commonwealth Ave, Unit 977 Boston, MA 02215-1314

    • Office buildings
    • 29,337 SF
    • 0.57 lot acres
    OFF-MARKET
    Last Sale
    Apr 11, 2022
    $10,500,000
    Value Estimations
    $9,345,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0722934
    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

    • Gracie Barra Boston / Self Defense School / Martial Arts School
    • Symphony Church / Church
    • Superdigital™ / Marketing Agency / Service Establishment
    • Coast Productions / Film Production Company
    • Advanced Peptides Inc / Store

    Property Details for 971 Commonwealth Ave

    Year built
    1919
    Construction
    BRICK
    Lot size
    0.57 lot acres
    Property size
    29,337 SF
    Zone code
    C
    Property type
    Office buildings
    APN
    ALLS W:21 P:00407 S:000
    APU
    ALLSW21P00407S000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,715,000
      ML approach
      $8,950,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,250,000
      Market price range: $9.33M - $30.4M

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

    Location Insight

    • Map
    • Local Demand
    City
    Boston
    County
    Suffolk
    State
    Massachusetts
    Longitude
    -71.1198
    Latitude
    42.3521
    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
    $138,063
    $1,677,200
    $3,786,300
    $5,463,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $720,000
      25,884 SF

      78 Brookline Ave, Unit 88

      OFFICE BUILDING • 25,884 SF
      78 Brookline Ave, Boston, MA 02215-3905
      View Details
    • Value Estimation
      $565,000
      12,375 SF

      537-539 Commonwealth Ave

      OFFICE BUILDING • 12,375 SF
      537-539 Commonwealth Ave, Boston, MA 02215
      View Details
    • Value Estimation
      $685,000
      9,282 SF

      535 Commonwealth Ave

      OFFICE BUILDING • 9,282 SF
      535 Commonwealth Ave, Boston, MA 02215-2005
      View Details
    • Value Estimation
      $1,070,000
      285,080 SF

      21 Burlington Ave, Unit 27

      OFFICE BUILDING • 285,080 SF
      21 Burlington Ave, Boston, MA 02215-3349
      View Details
    • Value Estimation
      $320,000
      4,465 SF

      36 Fenway

      OFFICE BUILDING • 4,465 SF
      36 Fenway, Boston, MA 02215-4006
      View Details
    • Value Estimation
      $765,000
      46,128 SF

      2 Charlesgate W

      OFFICE BUILDING • 46,128 SF
      2 Charlesgate W, Boston, MA 02215-3540
      View Details

    Similar Nearby for Sale

    • $2,399,000

      Medical/Flex Condo in Growing MSA

      Multi-tenant medical/flex condo in Boston, offering value-add potential.
      400 Commonwealth 2G, Boston, MA 02215
      View Details
    • $99,000

      Back Bay Parking Space For Sale

      Parking space available in Back Bay, Kenmore, and Fenway neighborhoods.
      64 Charlesgate East, Boston, MA 02215
      View Details
    • $249,900

      Renovated Studio in Kenmore Square

      Updated studio with balcony in luxury Kenmore Square building.
      566 Commonwealth Ave 804, Boston, MA 02215
      View Details
    • $11,250,000

      Boston Multifamily Investment Opportunity

      22-unit portfolio in Audubon Circle, Fenway and Longwood neighborhoods.
      132 St. St Mary's, Boston, MA 02215
      View Details
    • $825,000

      Fenway Restaurant with Liquor License

      Turn-key restaurant in Fenway with a full liquor license.
      914 Beacon St, Boston, MA 02215
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      16,280 SF

      Kenmore Square Office Space

      Office space in the heart of Kenmore Square.
      540 Commonwealth Ave, Boston, MA 02215
      View Details
    • $60 SF/Yr

      Furnished Office in Back Bay

      Turn-key office condominium in Boston's prestigious Somerset building.
      400 Commonwealth Ave, Boston, MA 02215
      View Details
    • Contact for pricing
      1,536 SF

      Furnished Office in Back Bay

      Turn-key office suite in Boston's prestigious Somerset building.
      400-418 Commonwealth Ave, Boston, MA 02215
      View Details
    • $27 SF/Yr
      41,232 SF

      Boston Office/Flex Space for Lease

      Versatile Office Space, Prime Location
      1050 Commonwealth Ave, Boston, MA 02215
      View Details
    • Contact for pricing
      4,000 SF

      Boylston Street Office Space

      4,000 SF second-floor office space in shell condition.
      1112-1116 Boylston St, Boston, MA 02215
      View Details
    • Contact for pricing
      45,149 SF

      Prime Office Space in Boston

      Flexible office space in a coveted Boston location.
      401 Park Dr, Boston, MA 02215
      View Details

    Property Visit Statistics

    • Visits by month
      9.0k
    • Visitors by month
      9.6k
    • Avg Time on site
      52 min
    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.
    971 Commonwealth Ave, Unit 977
    Boston, MA 02215-1314
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.