Mixed-Use Brownstone with Buildable
610-612 Shawmut Ave Boston, MA 02118
For Sale
$1,800,000
Pending
Mixed-use brownstone with development potential in opportunity zone.
Property Size5,865 SF
Lot Size0.11 Acres
Days on Market658
Property Features for 610-612 Shawmut Ave
General Information
- Standard status
- Pending
- Size
- 5,865 SF
- Lot size
- 0.11 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1920
Listing Agency:
Gibson Sotheby's International Realty
(617) 908-6775
Listed By:
Albert Bouchie · License #9522540
(617) 908-6775
Source:
Exitrealty
Added: Oct 7, 2024
Changed: Jul 10
Last Checked: Jul 26 at 6:00AM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
This property presents an opportunity for multi-unit development, featuring a four-unit mixed-use brick brownstone with an adjacent buildable lot. The property, to be delivered vacant, is situated on a one-way street in a quiet neighborhood near Boston Medical Center. It abuts a public park and is located between Massachusetts Avenue and Melina Cass Boulevard, with proximity to several major universities. The mixed-use structure includes commercial space at street level and three-bedroom apartments above. The property is located in an Opportunity Zone, making it suitable for development. The property is offered on an "as is" basis, and all due diligence is the responsibility of the buyer. The property size is 5865 square feet.
Key Highlights
- Multi‑unit development opportunity with adjacent buildable lot
- Delivered vacant, allowing immediate development or rental
- Located in an Opportunity Zone, offering potential tax benefits
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 | $211.1k | $36.00 |
| − Vacancy | −$19.0k | −$3.24 |
| EGI | $192.1k | $32.76 |
| − OpEx | −$72.1k | −$12.29 |
| NOI | $120.1k | $20.47 |
5,865 SF · lease $36.00/SF/yr · vacancy 9.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$1.72M
$1.50M – $2.00M
NOI $120,086 @ 7.0% cap · market cap 6.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.41M
$3.86M – $5.14M
NOI $308,518 @ 7.0% cap · market cap 17.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Commercial land
FAQs
What type of property is this?
Mixed-use property - Mixed-use brownstone with development potential in opportunity zone.
Where is this mixed-use property located?
The property is located at 610-612 Shawmut Ave Boston, MA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Multi‑unit development opportunity with adjacent buildable lot; Delivered vacant, allowing immediate development or rental; Located in an Opportunity Zone, offering potential tax benefits
