South Station Live/Work
For Sale
$775,000
717 Atlantic Ave. 1-B, Boston, MA 02111
770 SF commercial condo in Boston's South Station area.
Property Size770 SF
Price / SF$1,006
Days on Market123
Property Features for 717 Atlantic Ave. 1-B
General Information
Standard status
Active
Size
770 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,623
Building Details
Year Built
1899
Listing Agency:
Keller Williams Realty Outer Banks
(617) 875-4950
Listed By:
The Sarkis Team · License #47250
(617) 875-4950
Source:
Elliman
Added: Apr 24
Changed: Aug 22
Last Checked: Aug 23 at 8:22AM
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 Keller Williams Realty Outer Banks
Investment Insights
Based on property information with market context.
This property is a 770 square foot commercial live/work condominium located in Boston’s South Station area. It is situated within an eight story, 30-unit residential building. The location is directly across from South Station and the new Ritz-Carlton luxury residential development, which features 166 luxury units. The unit is suitable for a variety of uses, including residential live/work, creative studio or arts loft, retail, professional office, psychiatrist or therapist office, or other commercial uses. The property has a bike score of 77, indicating it is very bikeable. The walk score is 99, designating it as a walker's paradise, and the transit score is 100, identifying it as a rider's paradise.
Key Highlights
- Unbeatable Transit Access: A "Rider's Paradise" with a perfect score of 100, directly across from South Station.
- Prime Location: Situated in Boston's desirable South Station area, across from the Ritz‑Carlton.
- High Walkability: A "Walker's Paradise" boasting a score of 99, offering convenient access to amenities.
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
$22,703
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
2.93%
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%
$454,060
$454.1K
Cap Rate 7%
$324,329
$324.3K
Cap Rate 9%
$252,256
$252.3K
Market Conditions
NOI Build-Up for 770 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
$38.8K $50.40/SF
− Vacancy
−$8.5K −$11.09/SF
EGI
$30.3K $39.31/SF
− OpEx
−$7.6K −$9.83/SF
NOI
$22.7K $29.48/SF
Area
Boston, MA
Vacancy
22.00%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
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%
$454,060
Cap Rate 7%
$324,329
Cap Rate 9%
$252,256
Alternative Uses
Best Use
Office B
$324.3K
$283.8K – $378.4K
NOI $22,703 @ 7.0% cap · market cap 2.93%
Second Best
Mixed Use
$268.5K
$235.0K – $313.3K
NOI $18,798 @ 7.0% cap · market cap 2.43%
Theoretical Best
Office A
$576.6K
$504.5K – $672.7K
NOI $40,360 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
21,628
Businesses Nearby
Explore this area
Business Placement
Demographics for 02111, MA
9,716
Population
4,535
Households
2.1
Avg Household Size
34
Median Age
57%
College-Educated
83%
High-School Grad
0.2 sq mi
ZIP Area
48,580
Density / Sq Mi
$70,865
Median Household Income
$42,225
Median Earnings
$1,994
Median Rent
$953,400
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?
Live-work space - 770 SF commercial condo in Boston's South Station area.
Where is this live-work space located?
The property is located at 717 Atlantic Ave. 1-B Boston, MA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Unbeatable Transit Access: A "Rider's Paradise" with a perfect score of 100, directly across from South Station.; Prime Location: Situated in Boston's desirable South Station area, across from the Ritz‑Carlton.; High Walkability: A "Walker's Paradise" boasting a score of 99, offering convenient access to amenities.
