Mixed-Use Redevelopment Opportunity,
645 River St Boston, MA 02136
For Sale
$850,000
Redevelopment opportunity: mixed-use building with commercial and residential potential.
Property Size2,000 SF
Price / SF$425
Days on Market97
Property Features for 645 River St
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Commercial Lots & Land
Listing Agency:
Martins & Associates R.E. Inc.
(508) 583-6060
Listed By:
Jeanie E. Martins
(508) 583-6060
Source:
Liongatere
Added: Apr 25
Changed: Jul 10
Last Checked: Jul 29 at 1:07PM
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 Martins & Associates R.E. Inc.
Investment Insights
Based on property information with market context.
Located at 645 River St, Boston, MA 02136, this property presents a redevelopment opportunity in Hyde Park. Plans are in place to replace the existing grocery store with a new 3-story, mixed-use building. The first floor is designed to include approximately 2,000 square feet of commercial space, intended for a self-service laundry to serve the local community. The two floors above will house a total of four residential units, with two units on each floor. The location offers high visibility and convenient access to public transportation, with potential for both residential and commercial income.
Key Highlights
- Prime location in Hyde Park with high visibility and easy access to public transit.
- Mixed‑use building with both commercial (self‑service laundry) and residential income potential.
- Redevelopment opportunity to replace existing structure with a new 3‑story building.
Financial Insights For Mixed Use
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 | $84.0k | $42.00 |
| − Vacancy | −$5.9k | −$2.94 |
| EGI | $78.1k | $39.06 |
| − OpEx | −$29.3k | −$14.65 |
| NOI | $48.8k | $24.41 |
2,000 SF · lease $42.00/SF/yr · vacancy 7.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$697.5K
$610.3K – $813.8K
NOI $48,825 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,832 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Redevelopment opportunity: mixed-use building with commercial and residential potential.
Where is this mixed-use property located?
The property is located at 645 River St Boston, MA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Prime location in Hyde Park with high visibility and easy access to public transit.; Mixed‑use building with both commercial (self‑service laundry) and residential income potential.; Redevelopment opportunity to replace existing structure with a new 3‑story building.
