Historic Firehouse Mixed-Use
For Sale
$5,450,000
133 Salem St, Boston, MA 02113
Renovated firehouse converted to four units, including ground-floor Pilates studio and three finished residential apartments.
Property Size6,760 SF
Price / SF$806.21
Days on Market50
Property Features for 133 Salem St
General Information
Standard status
Active
Size
6,760 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Building Details
Year Built
1920
Year Renovated
2013
Listing Agency:
Douglas Elliman Real Estate - The Sarkis Team
(781) 933-2500
Listed By:
The Sarkis Team
Source:
Kiklisre
Added: Jun 13
Changed: Jul 10
Last Checked: Jul 23 at 4:55AM
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 Douglas Elliman Real Estate - The Sarkis Team
Investment Insights
Based on property information with market context.
Originally the Engine No. 8 Firehouse, 133 Salem St has been thoughtfully reimagined into a four-unit mixed-use property. The building was fully renovated to a high standard in 2013 and now offers a commercial space on the ground floor plus three finished residential units above. The ground-floor commercial area is leased to BTONE Pilates Studio, providing an established operating tenant within the property. The residential component includes a penthouse with 3+ bedrooms and private outdoor space, along with two additional residential units that are leased and ready to support an owner-occupant strategy.
The property is located near the Eliot School, with additional neighborhood conveniences associated with the North End. With a commercial-first setup on the street level and residences located overhead, the building is configured for an owner to participate in both uses within one address.
For buyers and owner-occupants, the combination of an in-place fitness studio lease and multiple residential units can be appealing for those seeking a live-and-work arrangement. Tenants and brokers will note the practical split between street-level commercial use and independent residential living above, with the renovation completed and the building operating as a turnkey mixed-use asset since 2013.
The property is located near the Eliot School, with additional neighborhood conveniences associated with the North End. With a commercial-first setup on the street level and residences located overhead, the building is configured for an owner to participate in both uses within one address.
For buyers and owner-occupants, the combination of an in-place fitness studio lease and multiple residential units can be appealing for those seeking a live-and-work arrangement. Tenants and brokers will note the practical split between street-level commercial use and independent residential living above, with the renovation completed and the building operating as a turnkey mixed-use asset since 2013.
Key Highlights
- Originally Engine No. 8 Firehouse at 133 Salem St, reimagined as a 4‑unit mixed‑use property
- Fully renovated in 2013, with 2,400+ sq. ft. ground‑floor commercial space leased to BTONE Pilates Studio
- Includes three finished residential units above the commercial space, offering flexible live‑in or rental options
Financial Insights For Multifamily LT 5
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 | $255.5k | $37.80 |
| − Vacancy | −$11.5k | −$1.70 |
| EGI | $244.0k | $36.10 |
| − OpEx | −$73.2k | −$10.83 |
| NOI | $170.8k | $25.27 |
6,760 SF · lease $37.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$2.44M
$2.14M – $2.85M
NOI $170,820 @ 7.0% cap · market cap 3.13%
Second Best
Mixed Use
$2.36M
$2.06M – $2.75M
NOI $165,029 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$5.06M
$4.43M – $5.91M
NOI $354,332 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
12,999
Businesses Nearby
Explore this area
Business Placement
Demographics for 02113, MA
7,126
Population
4,664
Households
1.5
Avg Household Size
29
Median Age
80%
College-Educated
98%
High-School Grad
0.1 sq mi
ZIP Area
71,260
Density / Sq Mi
$110,321
Median Household Income
$72,264
Median Earnings
$2,498
Median Rent
$693,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated firehouse converted to four units, including ground-floor Pilates studio and three finished residential apartments.
Where is this mixed-use property located?
The property is located at 133 Salem St Boston, MA.
What is the asking price?
The asking price for this property is $5,450,000.
What are key features of this property?
This property features: Originally Engine No. 8 Firehouse at 133 Salem St, reimagined as a 4‑unit mixed‑use property; Fully renovated in 2013, with 2,400+ sq. ft. ground‑floor commercial space leased to BTONE Pilates Studio; Includes three finished residential units above the commercial space, offering flexible live‑in or rental options
