Prime Office Condos Near
For Sale
$374,000
2 Hawthorne Pl 102n, Boston, MA 02114
First-floor office condos across from Mass General Hospital.
Property Size1,393 SF
Price / SF$268.49
Days on Market556
Property Features for 2 Hawthorne Pl 102n
General Information
Standard status
Active
Size
1,393 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$7,326
Building Details
Year Built
1967
Listing Agency:
Allton Realty, LLC
(617) 990-4065
Listed By:
Frank Interrante
(617) 990-4065
Source:
Exitrealty
Added: Jan 30, 2025
Changed: Aug 8
Last Checked: Apr 5 at 8:32PM
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 Allton Realty, LLC
Investment Insights
Based on property information with market context.
Four first-floor office condos are available across from Mass General Hospital in the Hawthorne Place Condominium. The location is suitable for medical, financial, or legal professionals, with access to major highways, T lines, commuter rail, North Station, TD Garden, Beacon Hill, Faneuil Hall, Government Center, and Downtown. Each office suite includes visitor paid parking, private bathrooms, exam rooms, central reception areas, and kitchenettes. The condo fee includes 24/7 concierge service, heat, water, gas, central air, sewer, laundry facilities, and snow removal. The community features 480 residences, 25 professional office suites, and green space. Office sizes range from 605 sq ft to 1393 sq ft. Flexible floor plans are available, and parking can be rented or purchased at an additional cost.
Key Highlights
- Prime location directly across from Mass General Hospital, ideal for medical, financial, or legal professionals.
- Four first‑floor office condos available in the prestigious Hawthorne Place Condominium.
- Includes 24/7 concierge service and essential utilities in the condo fee.
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
$28,283
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
7.56%
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%
$565,660
$565.7K
Cap Rate 7%
$404,043
$404.0K
Cap Rate 9%
$314,256
$314.3K
Market Conditions
NOI Build-Up for 1,393 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
$50.1K $36.00/SF
− Vacancy
−$3.0K −$2.16/SF
EGI
$47.1K $33.84/SF
− OpEx
−$18.9K −$13.54/SF
NOI
$28.3K $20.30/SF
Area
ZIP 02114
Vacancy
6.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
40.00%
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%
$565,660
Cap Rate 7%
$404,043
Cap Rate 9%
$314,256
Alternative Uses
Best Use
Office B
$637.9K
$558.2K – $744.2K
NOI $44,652 @ 7.0% cap · market cap 11.94%
Second Best
Healthcare Medical
$404.0K
$353.5K – $471.4K
NOI $28,283 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$724.7K
$634.1K – $845.5K
NOI $50,730 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
21,471
Businesses Nearby
Explore this area
Business Placement
Demographics for 02114, MA
14,469
Population
9,525
Households
1.5
Avg Household Size
33
Median Age
84%
College-Educated
97%
High-School Grad
0.4 sq mi
ZIP Area
36,173
Density / Sq Mi
$135,057
Median Household Income
$94,465
Median Earnings
$2,933
Median Rent
$927,900
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?
Office units - First-floor office condos across from Mass General Hospital.
Where is this office units located?
The property is located at 2 Hawthorne Pl 102n Boston, MA.
What is the asking price?
The asking price for this property is $374,000.
What are key features of this property?
This property features: Prime location directly across from Mass General Hospital, ideal for medical, financial, or legal professionals.; Four first‑floor office condos available in the prestigious Hawthorne Place Condominium.; Includes 24/7 concierge service and essential utilities in the condo fee.
