Versatile Brick and Beam
For Sale
$2,800,000
103 Terrace Street, Boston, MA 02120
Two-story building with office, showroom, and workshop space for sale.
Property Size9,400 SF
Price / SF$297.87
Days on Market496
Property Features for 103 Terrace Street
General Information
Standard status
Active
Size
9,400 SF
Taxes and HOA fees
Annual Taxes
$24,449
Building Details
Year Built
1899
Listing Agency:
Boston Realty Advisors
Listed By:
Nicholas Herz
Source:
Corcoran
Added: Jun 9, 2025
Changed: Mar 16
Last Checked: Apr 24 at 4:09PM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$151,722
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,034,440
$3.0M
Cap Rate 7%
$2,167,457
$2.2M
Cap Rate 9%
$1,685,800
$1.7M
Market Conditions
NOI Build-Up for 9,400 SF
Gross rent
$236.9K $25.20/SF
− Vacancy
−$20.1K −$2.14/SF
EGI
$216.7K $23.06/SF
− OpEx
−$65.0K −$6.92/SF
NOI
$151.7K $16.14/SF
Area
Boston, MA
Vacancy
8.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,034,440
Cap Rate 7%
$2,167,457
Cap Rate 9%
$1,685,800
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 authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
7,602
Businesses Nearby
Explore this area
Business Placement
Demographics for 02120, MA
17,578
Population
5,061
Households
3.5
Avg Household Size
26
Median Age
44%
College-Educated
78%
High-School Grad
0.6 sq mi
ZIP Area
29,297
Density / Sq Mi
$61,472
Median Household Income
$27,345
Median Earnings
$1,630
Median Rent
$941,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Boston, MA
Frequently Asked Questions
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.
