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    Mixed-Use Redevelopment Opportunity, Boston Title is generated by Realmo AI

    645 River St, Boston, MA 02136

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    For Sale
    $850,000

    Redevelopment opportunity: mixed-use building with commercial and residential potential.

    Type:Commercial Lots & Land
    Property size:
    2,000 SF
    Price / SF:
    $425/SF
    Added:
    Apr 25, 2026
    Days on Market:
    51
    Last Refresh:
    Apr 25 at 6:32 am

    Property Features for 645 River St

    General Information

    Standard status
    Active
    Size
    2,000 SF
    Property subtype
    Commercial Lots & Land

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    Listing Contact
    Jeanie E. Martins

    Listing agent Jeanie E. Martins

    Listing office Martins & Associates R.E. Inc.

    Listing date Apr 25, 2026

    Source Liongatere

    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.

    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.
    • Approximately 2,000 sq ft of commercial space on the first floor.
    • Four residential units across two floors, ideal for renters.
    • Modern living in a vibrant neighborhood.

    Overview

    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.

    Local Financial Insights For Multifamily LT 5

    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 $75.6k $37.80
    − Vacancy −$3.4k −$1.70
    EGI $72.2k $36.10
    − OpEx −$21.7k −$10.83
    NOI $50.5k $25.27
    2,000 SF · lease $37.80/SF/yr · vacancy 4.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $722.0K
    $631.7K – $842.3K (±1% cap)
    NOI $50,539 @ 7.0% cap · market cap 5.95%
    Second Best
    Mixed Use
    $697.5K
    $610.3K – $813.8K (±1% cap)
    NOI $48,825 @ 7.0% cap · market cap 5.74%
    Theoretical Best
    Office A
    $1.50M
    $1.31M – $1.75M (±1% cap)
    NOI $104,832 @ 7.0% cap · market cap 12.33%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Boston
    County
    Suffolk
    State
    Massachusetts
    Longitude
    -71.0996312
    Latitude
    42.2650273

    FAQs

    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.
    More about this property
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