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    978 Washington St East Weymouth, MA 02189
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    Property profile & analytics

    978 Washington St East Weymouth, MA 02189

    View on Map
    • Showrooms
    • 4,288 SF
    • 0.15 lot acres
    For Lease
    $25 SF/Yr
    View Listing →
    East Weymouth Office Space Available For Lease
    $25 SF/Yr
    1,400 SF

    East Weymouth Office Space Available

    1400 square feet of office space for lease.

    978 Washington St, East Weymouth, MA
    View Listing
    Property ID
    US38-0374144
    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
    $525,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • South Shore Reflexology / Alternative Medicine Practice / Spa & Massage Center
    • Tranquility Mind and Body Weymouth MA / Spa & Massage Center

    Property Details for 978 Washington St

    Year built
    1996
    Construction
    FRAME
    Lot size
    0.15 lot acres
    Property size
    4,288 SF
    Zone code
    100
    Property type
    Showrooms
    APN
    WEYM M:30 B:391 L:024
    APU
    WEYMM30B391L024

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $375,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $690,000
      6.5%
      $635,000
      7%
      $590,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $679,000
      Market price range: $679k - $1.27M
      AI Estimate
      $403,000
      Market price range: $350k - $879k

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

    Location Insight

    • Map
    • Local Demand
    City
    Weymouth
    County
    Norfolk
    State
    Massachusetts
    Longitude
    -70.9367
    Latitude
    42.1997
    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
    $9,798
    $187,200
    $415,000
    $602,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,620,000
      24,676 SF

      44 Woodrock Rd

      SHOW ROOM, WAREHOUSE • 24,676 SF
      44 Woodrock Rd, Weymouth, MA 02189-2336
      View Details
    • Value Estimation by Request
      2,127 SF

      40 Ashmont St

      SHOW ROOM, WAREHOUSE • 2,127 SF
      40 Ashmont St, Weymouth, MA 02189-3045
      View Details
    • Value Estimation
      $680,000
      6,000 SF

      572 Ee St

      SHOW ROOM, WAREHOUSE • 6,000 SF
      572 Ee St, Weymouth, MA 02189-2230
      View Details
    • Value Estimation by Request
      2,400 SF

      136 Ee St

      SHOW ROOM, WAREHOUSE • 2,400 SF
      136 Ee St, Weymouth, MA 02189-2106
      View Details
    • Value Estimation by Request
      936 SF

      585 Ee St

      SHOW ROOM, WAREHOUSE • 936 SF
      585 Ee St, Weymouth, MA 02189-2204
      View Details
    • Value Estimation by Request
      1,025 SF

      18-22 Sta St

      SHOW ROOM, WAREHOUSE • 1,025 SF
      18-22 Sta St, Weymouth, MA 02189
      View Details

    Similar Nearby for Sale

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      Automotive Shop with Mechanic Bays

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      Mixed-use property with development potential on Washington Street.
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      Automotive Shop with Office Space

      Commercial property featuring an automotive shop and office space.
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    • $2,499,900

      Automotive Shop with Mechanic Bays

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    Similar Nearby for Lease

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      865 SF

      Prime Weymouth Office/Retail Space

      High-visibility space on Route 53, ideal for diverse businesses.
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      4,188 SF

      Retail Space in Multifamily Development

      Retail space available in Weymouth, MA, Route 53 visibility.
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      8,090 SF

      Retail Space in Weymouth

      8,090 SF retail space with great visibility for rent.
      824-836 Washington St E, Weymouth, MA 02189
      View Details
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      Retail Space on Washington Street

      Retail leasing opportunity with high visibility and guaranteed traffic.
      824 Washington St, Weymouth, MA 02189
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      Retail Space on Libbey Parkway

      3,000 SF retail space available for lease.
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      Retail Space in Weymouth Center

      Retail space available in Weymouth, MA shopping center.
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      View Details
    View Listing
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    East Weymouth, MA 02189
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    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
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