Street-Level Office
For Sale
$599,000
7 Whittier Pl 112S-114S, Boston, MA 02114
Two contiguous shell units provide a customizable office footprint within a mixed-use residential and commercial building.
Property Size1,890 SF
Price / SF$316.93
Days on Market530
Property Features for 7 Whittier Pl 112S-114S
General Information
Standard status
Active
Size
1,890 SF
Total Parking Spaces
5
Property subtype
Commercial/Industrial
Financials
Asking Price
$874,000
HOA Fee
$3,985
Additional Details
Floor
Ground Floor
Office Units
2
Taxes and HOA fees
Annual Taxes
$18,128
Amenities
concierge
Building Details
Year Built
1964
Buildings
1
Listing Agency:
Rick Gomolka Realty
(781) 408-1245
Listed By:
Richard Gomolka
(781) 408-1245
Source:
Exitrealty
Added: Mar 21, 2025
Changed: Aug 30
Last Checked: Aug 31 at 5:09PM
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 Rick Gomolka Realty
Investment Insights
Based on property information with market context.
This offering includes two adjacent, contiguous office condominium units totaling 1,890 square feet at street level within a mixed-use residential and commercial building. Delivered in shell condition, the space allows for custom interior planning and buildout. The units can be reached through the concierge area at 6 Whittier Place or through the right side of the building at 7 Whittier Place for business access.
The sale also includes one underground garage space and four surface lot spaces. Parking lot and garage renovations are nearing completion. The property was built in 1964 and is located at 7 Whittier Place in Boston, Massachusetts.
The sale also includes one underground garage space and four surface lot spaces. Parking lot and garage renovations are nearing completion. The property was built in 1964 and is located at 7 Whittier Place in Boston, Massachusetts.
Key Highlights
- Two contiguous street‑level office condominium units totaling 1,890 square feet
- Shell condition supports custom interior design and buildout
- Includes 1 underground garage space and 4 lot spaces
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
$38,375
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
6.41%
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%
$767,500
$767.5K
Cap Rate 7%
$548,214
$548.2K
Cap Rate 9%
$426,389
$426.4K
Market Conditions
NOI Build-Up for 1,890 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
$68.0K $36.00/SF
− Vacancy
−$4.1K −$2.16/SF
EGI
$64.0K $33.84/SF
− OpEx
−$25.6K −$13.54/SF
NOI
$38.4K $20.30/SF
Area
ZIP 02114
Vacancy
6.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
40.00%
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%
$767,500
Cap Rate 7%
$548,214
Cap Rate 9%
$426,389
Alternative Uses
Best Use
Office B
$865.5K
$757.3K – $1.01M
NOI $60,583 @ 7.0% cap · market cap 10.11%
Second Best
Healthcare Medical
$548.2K
$479.7K – $639.6K
NOI $38,375 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$983.3K
$860.4K – $1.15M
NOI $68,829 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
14,781
Businesses Nearby
Explore this area
Business Placement
Demographics for 02114, MA
14,469
Population
9,525
Households
1.5
Avg Household Size
33
Median Age
84%
College-Educated
97%
High-School Grad
0.4 sq mi
ZIP Area
36,173
Density / Sq Mi
$135,057
Median Household Income
$94,465
Median Earnings
$2,933
Median Rent
$927,900
Median Home Value
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 - Two contiguous shell units provide a customizable office footprint within a mixed-use residential and commercial building.
Where is this office units located?
The property is located at 7 Whittier Pl 112S-114S Boston, MA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two contiguous street‑level office condominium units totaling 1,890 square feet; Shell condition supports custom interior design and buildout; Includes 1 underground garage space and 4 lot spaces
