Two-Story Storefront
For Sale
$1,400,000
01-671 Tremont St, Boston, MA 02135
Corner commercial space with multiple offices and entrances on two streets.
Property Size1,846 SF
Price / SF$758.40
Days on Market105
Property Features for 01-671 Tremont St
General Information
Standard status
Active
Size
1,846 SF
Site & Location
Corner Location
Yes
Road Access
Yes
Additional Details
Floor
Street Level, Lower Level
Taxes and HOA fees
Annual Taxes
$9,168
Amenities
outdoor patio
Listing Agency:
Star Residential, LLC
(317) 258-0619
Listed By:
Brett J. Star
(317) 258-0619
Source:
Exprealty
Added: May 1
Changed: Aug 8
Last Checked: Aug 12 at 11:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Star Residential, LLC
Investment Insights
Based on property information with market context.
Two-story storefront property at the corner of Pembroke and Tremont Streets, with entrances from both streets and a layout currently divided into three offices upstairs and four downstairs. The property also includes an outdoor patio shared with the upstairs neighbor.
Located in Boston’s South End neighborhood, the space sits among shops, restaurants, parks, and a library. The property is served by several major bus lines to downtown, providing access for businesses seeking a street-facing presence in an active neighborhood setting.
Located in Boston’s South End neighborhood, the space sits among shops, restaurants, parks, and a library. The property is served by several major bus lines to downtown, providing access for businesses seeking a street-facing presence in an active neighborhood setting.
Key Highlights
- Two‑story storefront property at the corner of Pembroke and Tremont Streets
- Separate entrances from both Pembroke and Tremont Streets
- Currently divided into three offices upstairs and four downstairs
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$54,427
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,088,540
$1.1M
Cap Rate 7%
$777,529
$777.5K
Cap Rate 9%
$604,744
$604.7K
Market Conditions
NOI Build-Up for 1,846 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$93.0K $50.40/SF
− Vacancy
−$20.5K −$11.09/SF
EGI
$72.6K $39.31/SF
− OpEx
−$18.1K −$9.83/SF
NOI
$54.4K $29.48/SF
Area
Boston, MA
Vacancy
22.00%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,088,540
Cap Rate 7%
$777,529
Cap Rate 9%
$604,744
Alternative Uses
Best Use
Office B
$777.5K
$680.3K – $907.1K
NOI $54,427 @ 7.0% cap · market cap 3.89%
Second Best
Retail
$425.7K
$372.5K – $496.6K
NOI $29,796 @ 7.0% cap · market cap 2.13%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,760 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,551
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02135, MA
47,232
Population
22,519
Households
2.1
Avg Household Size
29
Median Age
71%
College-Educated
93%
High-School Grad
2.6 sq mi
ZIP Area
18,166
Density / Sq Mi
$88,208
Median Household Income
$57,124
Median Earnings
$2,179
Median Rent
$684,000
Median Home Value
Market
Vacancy Rate% for Office in Boston, MA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Corner commercial space with multiple offices and entrances on two streets.
Where is this storefront property located?
The property is located at 01-671 Tremont St Boston, MA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Two‑story storefront property at the corner of Pembroke and Tremont Streets; Separate entrances from both Pembroke and Tremont Streets; Currently divided into three offices upstairs and four downstairs
