Add Listing
    For Lease
    • 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

    116 State St #3 Boston, MA 2109

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $3,700 /Mo

    Renovated office space in Boston's Financial District for lease.

    Added:
    Apr 22, 2026
    Days on Market:
    7
    Last Refresh:
    Apr 22 at 12:06 pm

    Property Features for 116 State St #3

    General Information

    Standard status
    Active

    Building Details

    Year Built
    9999

    We can help!

    Listing Contact
    Adam Kotkin

    Listing agent Adam Kotkin License #9510337

    Listing office Red Tree Real Estate

    Listing date Apr 22, 2026

    Source Liongatere

    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 Red Tree Real Estate

    Overview

    Financial District Office Space Available

    Modern, renovated office space is available for lease in the heart of Boston's Financial District. The property is located less than 200 feet from Quincy Market and is surrounded by high-volume pedestrian thoroughfares. This highly visible building benefits from substantial foot traffic generated by office workers and tourists. Immediate access is available to MBTA Blue and Orange Lines. The location has a Walk Score of 99. The space is suitable for any office use seeking a prime downtown presence. The property is located above Al's Subs. A European bakery is also planned for the building's other retail space.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Spa & Massage Center Restaurant Hair Salon Dental Office Nail Salon Building Supply Daycare Center Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Boston
    County
    Suffolk
    State
    Massachusetts
    Longitude
    -71.0548514
    Latitude
    42.3593112

    Nearby Similar for Lease

    • $23 SF/Yr

      Turn-Key Auto Body Facility

      Ready-to-use auto body and service garage for lease.
      310 Columbia Rd, Boston, MA 02121
      View Details
    • $29 SF/Yr

      Renovated Office Space Sub-Lease

      Recently renovated 6,846 SF office space available for sublease.
      500 Lincoln St #Unit 2, Boston, MA 02134
      View Details
    • $790/Mo

      Functional Office Suite Near Roslindale

      First-floor office suite near Roslindale Sq. with included utilities.
      16 Cohasset St. #103A, Boston, MA 02131
      View Details
    • $6,000/Mo

      Remodeled Office Suite in Back Bay

      Newly remodeled office suite in a prestigious Back Bay location.
      160 Commonwealth Ave #3A, Boston, MA 02116
      View Details
    • $5,500/Mo

      Jamaica Plain Retail Space Available

      Retail space in Hyde Square with high ceilings and patio.
      372 Centre St, Boston, MA 02130
      View Details
    • $1,700/Mo

      Retail Space Near Financial District

      Retail space near Chinatown and Financial District, ideal for various uses.
      200 Lincoln St 102, Boston, MA 02111
      View Details
    • $5,500/Mo

      East Boston Retail/Office Space

      Flexible commercial space in thriving Day Square neighborhood.
      464 Bremen #2, Boston, MA 02128
      View Details
    • $1,875,000 SF/Yr

      MULTI_FAMILY - Boston, MA

      Spacious mixed-use property with warehouse and residential units available.
      35/0 Heron St, Boston, MA 02132
      View Details
    • $4,000/Mo

      Back Bay Medical/Professional Office Suite

      Garden level office suite in Back Bay Health Center.
      388-390 Commonwealth Ave #B2, Boston, MA 02215
      View Details
    • $30 SF/Yr

      MULTI_FAMILY - Boston, MA

      Spacious mixed-use property with warehouse and residential units.
      35/0 Heron St, Boston, MA 02132
      View Details
    • $7,500/Mo

      Chinatown Storefront Commercial Space

      Ground floor commercial space in Chinatown with high visibility.
      225 Harrison Ave, Boston, MA 02111
      View Details
    • $1,950/Mo

      West Roxbury Commercial/Office/Retail Space

      First-floor space in vibrant West Roxbury with high visibility.
      104 Spring Street, Boston, MA 02132
      View Details

    FAQs

    What type of property is this?
    Office units - Renovated office space in Boston's Financial District for lease.
    Where is this office units located?
    The property is located at 116 State St #3 Boston, MA.
    What is the lease rate?
    The lease rate is $3,700 /Mo.
    What are key features of this property?
    This property features: Prime Financial District location with exceptional foot traffic.; Immediate access to MBTA Blue and Orange Lines (excellent public transportation).; High Walk Score of 99 (highly walkable area).
    (617) 694-7356
    We can help!
    Listing Contact
    Adam Kotkin
    Real Estate License ID: 9510337
    Learn More
    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.
    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.
    Sign Up Successful!
    You now have access to more from Realmo!