Two Contiguous Office Condo
For Sale
$599,000
7 Whittier Unit 112S-114S, Boston, MA 02114
Two adjacent street-level office condo units are offered as a shell for customized buildout.
Property Size1,890 SF
Price / SF$316.93
Days on Market575
Property Features for 7 Whittier Unit 112S-114S
General Information
Standard status
Active
Size
1,890 SF
Property subtype
Commercial
Building Details
Year Built
1964
Listing Agency:
Rick Gomolka Realty
Listed By:
Richard Gomolka
(401) 333-9333
Source:
Residentialproperties
Added: Jan 11, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:34PM
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 Rick Gomolka Realty
Investment Insights
Based on property information with market context.
This offering presents two adjacent, contiguous street-level office condo units delivered as a shell, ready for your customized design. The space is located within a mixed-use residential/commercial building and is well suited for professional uses such as medical and dental offices or other office tenants. The seller notes that parking lot and garage renovations are almost complete, and that recent special assessments have been paid.
Access to the units is available either from the concierge area at 6 Whittier or for business use through 7 Whittier on the right side of the building. The units are being sold as a lot as part of a broader portfolio arrangement that includes the office units (112S and 114S) and associated parking (one underground garage space and four lot spaces).
Monthly condo fees are listed as $1,861 for unit 114S and $969 for unit 112S, and the fees include heat, A/C, water, concierge, common area maintenance, and trash, but not electricity for the fan and general use. Parking condo fees are $231 per space.
Access to the units is available either from the concierge area at 6 Whittier or for business use through 7 Whittier on the right side of the building. The units are being sold as a lot as part of a broader portfolio arrangement that includes the office units (112S and 114S) and associated parking (one underground garage space and four lot spaces).
Monthly condo fees are listed as $1,861 for unit 114S and $969 for unit 112S, and the fees include heat, A/C, water, concierge, common area maintenance, and trash, but not electricity for the fan and general use. Parking condo fees are $231 per space.
Key Highlights
- Two adjacent street‑level office condo units offered as a shell for customized buildout
- Units 112S and 114S are contiguous and ready for your custom designs
- Condo fees: 114S is $1,861/mo and 112S is $969/mo, including heat, a/c, water, concierge, common area maintenance, and trash (excludes electricity for fan/general use)
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
$45,644
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
7.62%
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%
$912,880
$912.9K
Cap Rate 7%
$652,057
$652.1K
Cap Rate 9%
$507,156
$507.2K
Market Conditions
NOI Build-Up for 1,890 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
$79.4K $42.00/SF
− Vacancy
−$6.4K −$3.36/SF
EGI
$73.0K $38.64/SF
− OpEx
−$27.4K −$14.49/SF
NOI
$45.6K $24.15/SF
Area
ZIP 02114
Vacancy
8.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
37.50%
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%
$912,880
Cap Rate 7%
$652,057
Cap Rate 9%
$507,156
Alternative Uses
Best Use
Office B
$865.5K
$757.3K – $1.01M
NOI $60,583 @ 7.0% cap · market cap 10.11%
Second Best
Mixed Use
$652.1K
$570.6K – $760.7K
NOI $45,644 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$983.3K
$860.4K – $1.15M
NOI $68,829 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,626
Businesses Nearby
Explore this area
Business Placement
Demographics for 02114, MA
14,469
Population
9,525
Households
1.5
Avg Household Size
33
Median Age
84%
College-Educated
97%
High-School Grad
0.4 sq mi
ZIP Area
36,173
Density / Sq Mi
$135,057
Median Household Income
$94,465
Median Earnings
$2,933
Median Rent
$927,900
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?
Office units - Two adjacent street-level office condo units are offered as a shell for customized buildout.
Where is this office units located?
The property is located at 7 Whittier Unit 112S-114S Boston, MA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two adjacent street‑level office condo units offered as a shell for customized buildout; Units 112S and 114S are contiguous and ready for your custom designs; Condo fees: 114S is $1,861/mo and 112S is $969/mo, including heat, a/c, water, concierge, common area maintenance, and trash (excludes electricity for fan/general use)
