Retail and Office
For Sale
Contact for pricing
160-170 Commonwealth Ave, Boston, MA 02116
First-floor and garden-level units in The Vendome building are delivered free and clear with separately metered utilities.
Property Size2,698 SF
Price / SF$678.28
Days on Market572
Property Features for 160-170 Commonwealth Ave
General Information
Standard status
Active
Size
2,698 SF
Property subtype
OFFICE
Additional Details
Utilities to Site
Yes
Listing Agency:
Boston Realty Advisors
(617) 375-7900
Listed By:
Justin Harlow
(617) 850-9613
Source:
Moodyscre
Added: Feb 18, 2025
Changed: Aug 14
Last Checked: Sep 13 at 11:51AM
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 Boston Realty Advisors
Investment Insights
Based on property information with market context.
For sale at 160–170 Commonwealth Ave, these retail and office condominium units are located within The Vendome building. The offering includes first-floor units U-3B, U-4A, and U-5, along with a garden-level unit designated L-7. Utilities are separately metered for electricity and water.
The property is presented as a premier opportunity for commercial retail, office, and medical users, positioned in a centrally located Boston submarket noted in the public remarks. A key leasing/takeover point is that delivery is described as free and clear, with no existing leases in place.
Prospective buyers can review the configuration by unit designation across the first-floor and garden-level spaces, with ongoing operational items including independently metered electricity and water called out in the offering materials.
The property is presented as a premier opportunity for commercial retail, office, and medical users, positioned in a centrally located Boston submarket noted in the public remarks. A key leasing/takeover point is that delivery is described as free and clear, with no existing leases in place.
Prospective buyers can review the configuration by unit designation across the first-floor and garden-level spaces, with ongoing operational items including independently metered electricity and water called out in the offering materials.
Key Highlights
- First Floor units (U‑3B, U‑4A & U‑5) listed at $3,334,000.
- Garden Level unit (L‑7) listed at $1,965,000.
- Delivered free and clear, with no existing lease(s) in place.
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
$91,909
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
5.02%
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%
$1,838,180
$1.8M
Cap Rate 7%
$1,312,986
$1.3M
Cap Rate 9%
$1,021,211
$1.0M
Market Conditions
NOI Build-Up for 2,698 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
$145.4K $53.88/SF
− Vacancy
−$22.8K −$8.46/SF
EGI
$122.5K $45.42/SF
− OpEx
−$30.6K −$11.36/SF
NOI
$91.9K $34.07/SF
Area
ZIP 02116
Vacancy
15.70%
Lease Rate
$53.88 /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%
$1,838,180
Cap Rate 7%
$1,312,986
Cap Rate 9%
$1,021,211
Alternative Uses
Best Use
Office B
$1.31M
$1.15M – $1.53M
NOI $91,909 @ 7.0% cap · market cap 5.02%
Second Best
Healthcare Medical
$708.4K
$619.8K – $826.5K
NOI $49,587 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,804 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
10,350
Businesses Nearby
Explore this area
Business Placement
Demographics for 02116, MA
23,408
Population
14,110
Households
1.7
Avg Household Size
36
Median Age
77%
College-Educated
93%
High-School Grad
0.6 sq mi
ZIP Area
39,013
Density / Sq Mi
$127,309
Median Household Income
$85,296
Median Earnings
$2,341
Median Rent
$1,583,500
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
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Frequently Asked Questions
What type of property is this?
Office units - First-floor and garden-level units in The Vendome building are delivered free and clear with separately metered utilities.
Where is this office units located?
The property is located at 160-170 Commonwealth Ave Boston, MA.
What is the asking price?
The asking price for this property is $1,830,000.
What are key features of this property?
This property features: First Floor units (U‑3B, U‑4A & U‑5) listed at $3,334,000.; Garden Level unit (L‑7) listed at $1,965,000.; Delivered free and clear, with no existing lease(s) in place.
