East Boston Mixed-Use Redevelopment
59-63 Meridian St Boston, MA 02128
59-63 Meridian St, Boston, MA, 02128
$3,900,000
For Sale
$3,900,000
Mixed-use property in East Boston with redevelopment potential.
Property Size15,000 SF
Price / SF$260
Days on Market92
Property Features for 59-63 Meridian St
General Information
- Standard status
- Active
- Size
- 15,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1910
Listing agency
Centre Realty Group
(617) 778-3425
Listed by
Alissa Charles
(617) 778-3425
Source
Alliancepartnersre
Added: Apr 23 Updated: Jul 10 at 1:17PM Checked: Jul 23 at 6:56AM
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 Centre Realty Group
Investment Insights
Based on property information with market context.
Located in the heart of East Boston at 59–63 Meridian St, with additional access from 82 Paris St, this three-story mixed-use asset offers a prime redevelopment and value-add opportunity. The property is situated steps from Maverick Sq and minutes from the Jeffries Point waterfront. Totaling approximately 15,000 square feet, the property presents exceptional upside for developers, investors, and owner-users. The MU-5 zoning allows for a wide range of potential uses. Conceptual redevelopment plans are in place, providing a head start while preserving flexibility to refine or expand the vision. The property delivers immediate carry income with two leased retail storefronts on Meridian St and a leased ground-floor office suite with a private entrance at 82 Paris St, offsetting holding costs during planning. The 2nd and 3rd floors are fully vacant, creating a rare opportunity for swift repositioning, phased redevelopment, or full-scale transformation. Multiple access points via elevator and stairwells offer exceptional flexibility for future layouts.
Key Highlights
- Prime redevelopment opportunity in the heart of East Boston.
- MU‑5 zoning allows a wide range of potential uses.
- Immediate carry income from leased retail and office spaces.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $378.0k | $25.20 |
| − Vacancy | −$32.1k | −$2.14 |
| EGI | $345.9k | $23.06 |
| − OpEx | −$103.8k | −$6.92 |
| NOI | $242.1k | $16.14 |
15,000 SF · lease $25.20/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$6.32M
$5.53M – $7.37M
NOI $442,260 @ 7.0% cap · market cap 11.34%
Second Best
Mixed Use
$5.23M
$4.58M – $6.10M
NOI $366,188 @ 7.0% cap · market cap 9.39%
Theoretical Best
Office A
$11.23M
$9.83M – $13.10M
NOI $786,240 @ 7.0% cap · market cap 20.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
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FAQs
What type of property is this?
Mixed-use property - Mixed-use property in East Boston with redevelopment potential.
Where is this mixed-use property located?
The property is located at 59-63 Meridian St Boston, MA.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Prime redevelopment opportunity in the heart of East Boston.; MU‑5 zoning allows a wide range of potential uses.; Immediate carry income from leased retail and office spaces.
