Commercial Retail Strip with
For Sale
$1,495,000
1459-1469 River St, Boston, MA 02136
Four-unit retail strip with parking lot in Hyde Park.
Property Size3,757 SF
Price / SF$397.92
Days on Market302
Property Features for 1459-1469 River St
General Information
Standard status
Active
Size
3,757 SF
Building Details
Year Built
1930
Listing Agency:
eXp Realty
Listed By:
Maher Realty Group
(781) 544-6999
Source:
Alpernandmesenbourg
Added: Nov 28, 2025
Changed: Sep 10
Last Checked: Sep 24 at 11:02AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This commercial investment opportunity features a four-unit retail strip situated on a 4,128 square foot parcel. The property benefits from a high-visibility corner location with substantial vehicle traffic. Included in the offering is a 5,096 square foot vacant lot located directly across the street, currently utilized as a parking lot. Both parcels are located within the Local Convenience (LC) zoning district, offering flexible use potential such as commercial, mixed-use, or residential conversion. Interested parties should verify zoning details independently. The property previously housed the Hyde Park Pharmacy and Richys General Store, establishing a strong community presence. This dual-parcel opportunity is suitable for investors, owner-users, or developers seeking upside potential in a high-traffic neighborhood.
Key Highlights
- Prime Hyde Park location on a high‑visibility corner with strong vehicle traffic.
- Includes a 5,096 SF vacant lot across the street, currently used as a parking lot.
- Flexible use potential with Local Convenience (LC) zoning, allowing for commercial, mixed‑use, or residential conversion.
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
$60,640
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
4.06%
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%
$1,212,800
$1.2M
Cap Rate 7%
$866,286
$866.3K
Cap Rate 9%
$673,778
$673.8K
Market Conditions
NOI Build-Up for 3,757 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
$94.7K $25.20/SF
− Vacancy
−$8.0K −$2.14/SF
EGI
$86.6K $23.06/SF
− OpEx
−$26.0K −$6.92/SF
NOI
$60.6K $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 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%
$1,212,800
Cap Rate 7%
$866,286
Cap Rate 9%
$673,778
Alternative Uses
Best Use
Retail
$866.3K
$758.0K – $1.01M
NOI $60,640 @ 7.0% cap · market cap 4.06%
Second Best
Industrial
$564.9K
$494.3K – $659.0K
NOI $39,540 @ 7.0% cap · market cap 2.64%
Theoretical Best
Office A
$2.81M
$2.46M – $3.28M
NOI $196,927 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,051
Businesses Nearby
99k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 37%
Dining 34%
Groceries 27%
Home Improvements & Furnishings 1%
McDonald's
Dining
28,474 visits/mo
0.3 miles
Shaw's Supermarket
Groceries
26,611 visits/mo
0.2 miles
Dollar Tree
Shops & Services
16,388 visits/mo
0.2 miles
Bank of America
Shops & Services
11,332 visits/mo
0.5 miles
SUBWAY
Dining
3,284 visits/mo
0.3 miles
Demographics for 02136, MA
35,102
Population
14,031
Households
2.5
Avg Household Size
39
Median Age
32%
College-Educated
88%
High-School Grad
4.6 sq mi
ZIP Area
7,631
Density / Sq Mi
$96,862
Median Household Income
$50,793
Median Earnings
$1,772
Median Rent
$566,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Boston, MA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Four-unit retail strip with parking lot in Hyde Park.
Where is this strip mall located?
The property is located at 1459-1469 River St Boston, MA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Prime Hyde Park location on a high‑visibility corner with strong vehicle traffic.; Includes a 5,096 SF vacant lot across the street, currently used as a parking lot.; Flexible use potential with Local Convenience (LC) zoning, allowing for commercial, mixed‑use, or residential conversion.
