Three-Story Mixed-Use Redevelopment
59-63 Meridian St Boston Boston, MA 02128
For Sale
$3,900,000
Three-story mixed-use building with leased retail and office space, plus vacant upper floors, supported by conceptual redevelopment plans.
Property Size15,000 SF
Price / SF$260
Days on Market23
Property Features for 59-63 Meridian St Boston
General Information
- Standard status
- Active
- Size
- 15,000 SF
Building Details
- Year Built
- 1910
Listing Agency:
eXp Realty
(860) 818-2150
Listed By:
Michael Truong · License #RES.0794690
(860) 818-2150
Source:
Michaeltruong.exprealty
Added: Jul 1
Changed: Jul 22
Last Checked: Jul 22 at 9:54PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This three-story mixed-use property totals approximately 15,000 SF and combines current income with space available for repositioning. The building includes two leased retail storefronts along Meridian St and a leased ground-floor office suite with a private entrance at 82 Paris St, helping offset holding costs during planning. The second and third floors are fully vacant, creating flexibility for phased redevelopment or a full-scale transformation.
The asset is positioned in East Boston at 59–63 Meridian St with additional access via 82 Paris St. Multiple access points are provided through elevator and stairwells.
MU-5 zoning is noted as allowing a wide range of potential uses, and conceptual redevelopment plans are in place to support a faster start while preserving flexibility to refine or expand the vision.
The asset is positioned in East Boston at 59–63 Meridian St with additional access via 82 Paris St. Multiple access points are provided through elevator and stairwells.
MU-5 zoning is noted as allowing a wide range of potential uses, and conceptual redevelopment plans are in place to support a faster start while preserving flexibility to refine or expand the vision.
Key Highlights
- Three‑story mixed‑use building (approx. 15,000 SF) at 59–63 Meridian St, with additional access from 82 Paris St
- Year built 1910; MU‑5 zoning allows a wide range of potential uses
- Immediate carry income: two leased retail storefronts on Meridian St and a leased ground‑floor office suite at 82 Paris St (private entrance)
Financial Insights For Retail
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 | $378.0k | $25.20 |
| − Vacancy | −$32.1k | −$2.14 |
| EGI | $345.9k | $23.06 |
| − OpEx | −$103.8k | −$6.92 |
| NOI | $242.1k | $16.14 |
15,000 SF · lease $25.20/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$6.32M
$5.53M – $7.37M
NOI $442,260 @ 7.0% cap · market cap 11.34%
Second Best
Mixed Use
$5.23M
$4.58M – $6.10M
NOI $366,188 @ 7.0% cap · market cap 9.39%
Theoretical Best
Office A
$11.23M
$9.83M – $13.10M
NOI $786,240 @ 7.0% cap · market cap 20.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Mixed-use property - Three-story mixed-use building with leased retail and office space, plus vacant upper floors, supported by conceptual redevelopment plans.
Where is this mixed-use property located?
The property is located at 59-63 Meridian St Boston Boston, MA.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Three‑story mixed‑use building (approx. 15,000 SF) at 59–63 Meridian St, with additional access from 82 Paris St; Year built 1910; MU‑5 zoning allows a wide range of potential uses; Immediate carry income: two leased retail storefronts on Meridian St and a leased ground‑floor office suite at 82 Paris St (private entrance)
