Building Details

Year Built 2021

Listing Agency: Coldwell Banker Realty t***@gmail.com Show Phone

Listed By: Crystal Silva · License #BK3153120 Show Phone

Source: Milestonerealtyinc

Added: May 15 Changed: Aug 28 Last Checked: Aug 28 at 7:57AM

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Investment Insights

Based on property information with market context.

Three newer construction retail storefront/office condominiums are available in Jamaica Plain, near the Green Street Orange Line T station. Located on the street level of the Brookside Green condominium building, Units C1, C2, and C3 feature large windows and central HVAC with air conditioning. The layout includes primary retail or office space on the street level, with wide staircases leading to additional basement space below. The total area of the units is over 2,800 square feet. The zoning district allows for a variety of uses, including office, retail, and various service businesses. The units have low taxes and low condo fees, and are vacant and ready for immediate occupancy.

Key Highlights

• Prime Jamaica Plain location, steps from the Green Street Orange Line T station.
• Three newer construction (2021) retail/office condominiums totaling over 2,800 sq ft.
• Units feature large windows and central HVAC with air conditioning, plus additional basement space.

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

$82,555

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

7.86%

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%

$1,651,100 $1.7M

Cap Rate 7%

$1,179,357 $1.2M

Cap Rate 9%

$917,278 $917.3K

Market Conditions

NOI Build-Up for 2,800 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

$141.1K $50.40/SF

− Vacancy

−$31.0K −$11.09/SF

EGI

$110.1K $39.31/SF

− OpEx

−$27.5K −$9.83/SF

NOI

$82.6K $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%

$1,651,100

Cap Rate 7%

$1,179,357

Cap Rate 9%

$917,278

Alternative Uses

Best Use

Office B

$1.18M

$1.03M – $1.38M (±1% cap)

NOI $82,555 @ 7.0% cap · market cap 7.86%

Second Best

Retail

$645.6K

$564.9K – $753.2K (±1% cap)

NOI $45,194 @ 7.0% cap · market cap 4.30%

Theoretical Best

Office A

$2.10M

$1.83M – $2.45M (±1% cap)

NOI $146,765 @ 7.0% cap · market cap 13.98%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

ATM Atm DJ’s Market Grocery & Convenience Store DJ's European Market ... Food Market

Suggested Use

Top Pick Law Firm Tattoo & Piercing Shop (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Accounting Firm Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,586

Businesses Nearby

Explore this area Business Placement

Demographics for 02130, MA

38,284

Population

18,802

Households

2

Avg Household Size

36

Median Age

73%

College-Educated

94%

High-School Grad

3.5 sq mi

ZIP Area

10,938

Density / Sq Mi

$130,533

Median Household Income

$73,238

Median Earnings

$2,434

Median Rent

$763,700

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this retail space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Retail space - Three retail/office condominiums in prime Jamaica Plain location.

Where is this retail space located?

The property is located at 120 Brookside Avenue # C1-2-3 Boston Jamaica Plain, MA.

What is the asking price?

The asking price for this property is $1,050,000.

What are key features of this property?

This property features: Prime Jamaica Plain location, steps from the Green Street Orange Line T station.; Three newer construction (2021) retail/office condominiums totaling over 2,800 sq ft.; Units feature large windows and central HVAC with air conditioning, plus additional basement space.