Church and Event Space
For Sale
$1,800,000
35-37 Fairmount Ave, Boston, MA 02136
Versatile sanctuary, offices, finished basement, and event ballroom on a main street with Neighborhood Shopping zoning.
Property Size10,064 SF
Price / SF$178.86
Days on Market45
Property Features for 35-37 Fairmount Ave
General Information
Standard status
Active
Size
10,064 SF
Zoning
E
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$10,975
Building Details
Building Size
10,064 SF
Year Built
1900
Listing Agency:
CM Realty Associates
(857) 445-3917
Listed By:
Jeffrey Jacques
Source:
Laerrealty
Added: Jul 7
Changed: Aug 8
Last Checked: Aug 8 at 3:50PM
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 CM Realty Associates
Investment Insights
Based on property information with market context.
This property was used as a church for more than a decade and includes a functional sanctuary with a baptismal tank, additional office space, and a finished basement. The building also features a grand ballroom that has been used as an event space, creating multiple interior areas suited to different layouts and tenant or buyer needs.
Located on a busy main street, the building is zoned for Neighborhood Shopping. It is described as being near highway access and public transportation, with commuter rail also nearby. The surrounding area includes neighborhood retail stores and new development housing, supporting a mix of everyday uses in the immediate vicinity.
For buyers or tenants looking for adaptable space, the combination of a dedicated sanctuary area, enclosed offices, and a ballroom-style event room may be useful for organizations and operators seeking a property with multiple functional components. The Neighborhood Shopping zoning also provides a potential framework for retail-oriented business concepts, subject to applicable requirements and approvals.
Located on a busy main street, the building is zoned for Neighborhood Shopping. It is described as being near highway access and public transportation, with commuter rail also nearby. The surrounding area includes neighborhood retail stores and new development housing, supporting a mix of everyday uses in the immediate vicinity.
For buyers or tenants looking for adaptable space, the combination of a dedicated sanctuary area, enclosed offices, and a ballroom-style event room may be useful for organizations and operators seeking a property with multiple functional components. The Neighborhood Shopping zoning also provides a potential framework for retail-oriented business concepts, subject to applicable requirements and approvals.
Key Highlights
- Year built 1900 commercial building with functional sanctuary, baptismal tank, office space, and finished basement
- Grand ballroom currently used as an event space, plus additional finished interior areas including office and basement
- Zoned Neighborhood Shopping, located on a busy main street
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
$162,439
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
9.02%
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%
$3,248,780
$3.2M
Cap Rate 7%
$2,320,557
$2.3M
Cap Rate 9%
$1,804,878
$1.8M
Market Conditions
NOI Build-Up for 10,064 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
$253.6K $25.20/SF
− Vacancy
−$21.6K −$2.14/SF
EGI
$232.1K $23.06/SF
− OpEx
−$69.6K −$6.92/SF
NOI
$162.4K $16.14/SF
Area
Boston, MA
Vacancy
8.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$3,248,780
Cap Rate 7%
$2,320,557
Cap Rate 9%
$1,804,878
Alternative Uses
Best Use
Office B
$4.24M
$3.71M – $4.95M
NOI $296,727 @ 7.0% cap · market cap 16.48%
Second Best
Retail
$2.32M
$2.03M – $2.71M
NOI $162,439 @ 7.0% cap · market cap 9.02%
Theoretical Best
Office A
$7.54M
$6.59M – $8.79M
NOI $527,515 @ 7.0% cap · market cap 29.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,057
Businesses Nearby
Explore this area
Business Placement
Demographics for 02136, MA
35,102
Population
14,031
Households
2.5
Avg Household Size
39
Median Age
32%
College-Educated
88%
High-School Grad
4.6 sq mi
ZIP Area
7,631
Density / Sq Mi
$96,862
Median Household Income
$50,793
Median Earnings
$1,772
Median Rent
$566,300
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?
Church & religious facility - Versatile sanctuary, offices, finished basement, and event ballroom on a main street with Neighborhood Shopping zoning.
Where is this church & religious facility located?
The property is located at 35-37 Fairmount 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: Year built 1900 commercial building with functional sanctuary, baptismal tank, office space, and finished basement; Grand ballroom currently used as an event space, plus additional finished interior areas including office and basement; Zoned Neighborhood Shopping, located on a busy main street
