Versatile Brick and Beam
103 Terrace Street Boston, MA 02120
103 Terrace Street, Boston, MA, 02120
$2,800,000
For Sale
$2,800,000
Two-story building with office, showroom, and workshop space for sale.
Property Size9,400 SF
Price / SF$297.87
Days on Market407
Property Features for 103 Terrace Street
General Information
- Standard status
- Active
- Size
- 9,400 SF
Building Details
- Year Built
- 1899
Listing Agency
Boston Realty Advisors
Listed by
Nicholas Herz
Source
Corcoran
Added: Jun 9, 2025 Updated: Mar 16 at 9:09 am Checked: Mar 16 at 9:09 am
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 Boston Realty Advisors
Investment Insights
Based on property information with market context.
The property at 103 Terrace Street is a two-story "brick and beam" building featuring a combination of office, showroom, and workshop spaces. The second floor offers wide-open office space. The first floor includes a two-story showroom with an open mezzanine, as well as a workshop area. With 9,400 square feet of space, this building is suitable for an owner-occupant due to its flexible layout and on-site parking. The property can be delivered vacant or with new leases from the existing second-floor tenants.
Key Highlights
- Two‑story "brick and beam" building with flexible uses.
- Ideal for owner‑occupant.
- On‑site parking available.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $236.9k | $25.20 |
| − Vacancy | −$20.1k | −$2.14 |
| EGI | $216.7k | $23.06 |
| − OpEx | −$65.0k | −$6.92 |
| NOI | $151.7k | $16.14 |
9,400 SF · lease $25.20/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$3.96M
$3.46M – $4.62M
NOI $277,150 @ 7.0% cap · market cap 9.90%
Second Best
Retail
$2.17M
$1.90M – $2.53M
NOI $151,722 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$7.04M
$6.16M – $8.21M
NOI $492,710 @ 7.0% cap · market cap 17.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
New England Design ...
Kitchen Remodeler
Placetailor
Architecture Firm
Stull & Lee Inc
Architect
Elton+Hampton Architects
Architect
Maple Hurst Builders
Construction Company
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Two-story building with office, showroom, and workshop space for sale.
Where is this office units located?
The property is located at 103 Terrace Street Boston, MA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Two‑story "brick and beam" building with flexible uses.; Ideal for owner‑occupant.; On‑site parking available.
