Turnkey 4-Unit Mixed-Use
133 Salem Street Boston, MA 02113
133 Salem Street, Boston, MA, 02113
$5,750,000
For Sale
$5,750,000
Renovated 2013 building with ground-floor fitness studio and three finished residential units.
Property Size6,760 SF
Price / SF$850.59
Days on Market272
Property Features for 133 Salem Street
General Information
- Standard status
- Active
- Size
- 6,760 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1920
Listing agency
Douglas Elliman Real Estate - The Sarkis Team
Listed by
The Sarkis Team
(413) 584-2900
Source
Mapleandmainrealty
Added: Oct 24, 2025 Updated: Jul 22 at 3:20AM Checked: Jul 22 at 3:20AM
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.
133 Salem Street is a fully renovated 4-unit mixed-use property originally built as the Engine No. 8 Firehouse. Completed to a high standard in 2013, the building includes approximately 2,400+ square feet of ground-floor commercial space currently leased to BTONE Pilates Studio. The upper floors contain three beautifully finished residential units.
A 3+ bedroom penthouse features private outdoor space and sweeping views. Two additional residential units are also leased, supporting an owner who wants both occupancy options and income from the residential portion of the building.
Located at 133 Salem Street in Boston, the property is down the street from the Eliot school. The asset is offered as a turnkey mixed-use building with established commercial tenancy at the street level and finished residential layouts above.
A 3+ bedroom penthouse features private outdoor space and sweeping views. Two additional residential units are also leased, supporting an owner who wants both occupancy options and income from the residential portion of the building.
Located at 133 Salem Street in Boston, the property is down the street from the Eliot school. The asset is offered as a turnkey mixed-use building with established commercial tenancy at the street level and finished residential layouts above.
Key Highlights
- 4‑unit mixed‑use property originally the Engine No. 8 Firehouse (Year Built 1920)
- Fully renovated to a high standard in 2013
- Ground‑floor commercial space (2,400+ SF) leased to BTONE Pilates Studio
Local 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 2.97%
Second Best
Mixed Use
$2.36M
$2.06M – $2.75M
NOI $165,029 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$5.06M
$4.43M – $5.91M
NOI $354,332 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Fitness centers & gyms
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Renovated 2013 building with ground-floor fitness studio and three finished residential units.
Where is this mixed-use property located?
The property is located at 133 Salem Street Boston, MA.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: 4‑unit mixed‑use property originally the Engine No. 8 Firehouse (Year Built 1920); Fully renovated to a high standard in 2013; Ground‑floor commercial space (2,400+ SF) leased to BTONE Pilates Studio
