Boston Church with Event
For Sale
$1,800,000
35-37 Fairmount Ave, Boston, MA 02136
Centrally located Boston property with sanctuary, office, and ballroom.
Property Size10,064 SF
Lot Size0.08 Acres
Price / SF$178.86
Days on Market648
Property Features for 35-37 Fairmount Ave
General Information
Standard status
Active
Size
10,064 SF
Lot size
0.08 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$10,974
Building Details
Year Built
1900
Listing Agency:
CM Realty Associates
(857) 445-3917
Listed By:
Jeffrey Jacques
(857) 445-3917
Source:
Exitrealty
Added: Nov 11, 2024
Changed: Aug 8
Last Checked: Aug 8 at 5:23AM
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 CM Realty Associates
Investment Insights
Based on property information with market context.
This property is centrally located in a thriving Boston neighborhood on a busy main street. Zoned for Neighborhood Shopping, it is surrounded by numerous businesses and is near a highway, public transportation, commuter rail, new housing developments, and retail stores. The building, used as a church for over a decade, features a functional sanctuary with a baptismal tank, office space, a finished basement, and a grand ballroom used as an event space. The property, totaling 10064 square feet, may be suitable for conversion into office, retail, or living space.
Key Highlights
- Zoned Neighborhood Shopping: Suitable for various business ventures
- Centrally Located in Thriving Neighborhood: Positioned in a rapidly developing area of Boston
- Close Proximity to Transportation: Convenient access to highway, public transportation, and commuter rail
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
$162,439
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
9.02%
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%
$3,248,780
$3.2M
Cap Rate 7%
$2,320,557
$2.3M
Cap Rate 9%
$1,804,878
$1.8M
Market Conditions
NOI Build-Up for 10,064 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
$253.6K $25.20/SF
− Vacancy
−$21.6K −$2.14/SF
EGI
$232.1K $23.06/SF
− OpEx
−$69.6K −$6.92/SF
NOI
$162.4K $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%
$3,248,780
Cap Rate 7%
$2,320,557
Cap Rate 9%
$1,804,878
Alternative Uses
Best Use
Office B
$4.24M
$3.71M – $4.95M
NOI $296,727 @ 7.0% cap · market cap 16.48%
Second Best
Retail
$2.32M
$2.03M – $2.71M
NOI $162,439 @ 7.0% cap · market cap 9.02%
Theoretical Best
Office A
$7.54M
$6.59M – $8.79M
NOI $527,515 @ 7.0% cap · market cap 29.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,057
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in Boston, MA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Centrally located Boston property with sanctuary, office, and ballroom.
Where is this church & religious facility located?
The property is located at 35-37 Fairmount Ave Boston, MA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Zoned Neighborhood Shopping: Suitable for various business ventures; Centrally Located in Thriving Neighborhood: Positioned in a rapidly developing area of Boston; Close Proximity to Transportation: Convenient access to highway, public transportation, and commuter rail
