Office Condominium
For Sale
Contact for pricing
200 Lincoln St, Boston, MA 02111
Fourth-floor front-facing office suite with large windows, an open work area, and two private windowed offices.
Property Size449 SF
Price / SF$596.88
Days on Market559
Property Features for 200 Lincoln St
General Information
Standard status
Active
Size
449 SF
Property subtype
OFFICE
Listing Agency:
Cabot & Company
(617) 262-6200
Listed By:
Eric Shabshelowitz
(617) 894-2138
Source:
Moodyscre
Added: Mar 3, 2025
Changed: Sep 4
Last Checked: Sep 13 at 11:09AM
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 Cabot & Company
Investment Insights
Based on property information with market context.
This economical office condominium features an efficient layout with a large open work area and two private offices, each with windows. The suite is front-facing on the fourth floor and benefits from large window glazing for natural light.
The building is professionally managed and is located just steps away from South Station.
The space is a practical option for an office tenant seeking a straightforward arrangement combining shared workspace with two separate, windowed private offices.
The building is professionally managed and is located just steps away from South Station.
The space is a practical option for an office tenant seeking a straightforward arrangement combining shared workspace with two separate, windowed private offices.
Key Highlights
- Fourth‑floor, front‑facing office suite with large windows
- Efficient layout with a large open work area
- Includes two private windowed offices
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
$13,238
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
4.94%
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%
$264,760
$264.8K
Cap Rate 7%
$189,114
$189.1K
Cap Rate 9%
$147,089
$147.1K
Market Conditions
NOI Build-Up for 449 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
$22.6K $50.40/SF
− Vacancy
−$5.0K −$11.09/SF
EGI
$17.7K $39.31/SF
− OpEx
−$4.4K −$9.83/SF
NOI
$13.2K $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%
$264,760
Cap Rate 7%
$189,114
Cap Rate 9%
$147,089
Alternative Uses
Best Use
Office B
$189.1K
$165.5K – $220.6K
NOI $13,238 @ 7.0% cap · market cap 4.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$336.2K
$294.2K – $392.3K
NOI $23,535 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
20,263
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Fourth-floor front-facing office suite with large windows, an open work area, and two private windowed offices.
Where is this office units located?
The property is located at 200 Lincoln St Boston, MA.
What is the asking price?
The asking price for this property is $268,000.
What are key features of this property?
This property features: Fourth‑floor, front‑facing office suite with large windows; Efficient layout with a large open work area; Includes two private windowed offices
