Building Details

Buildings 1

Building Size 8,578 SF

Listing Agency: Burgess Properties Show Phone

Listed By: Steve Nohrden

Source: Moodyscre

Added: Jul 31 Changed: Aug 2 Last Checked: Aug 10 at 10:57AM

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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 Burgess Properties

Investment Insights

Based on property information with market context.

This freestanding industrial building contains 8,578 square feet on a 0.23-acre lot and is currently used for food-and-beverage distribution. Existing improvements include three loading docks, an oversized drive-in door, walk-in cold storage, and 800-amp electrical service. The property is situated at 141 Addison Street in East Boston, Massachusetts, minutes from Logan International Airport.

Approvals are in place for conversion to 20 residential units, adding a documented redevelopment path alongside the existing distribution configuration. The building’s loading, access, cold-storage, and electrical features support its current industrial operation.

Key Highlights

• 8,578 SF freestanding industrial building on a 0.23‑acre lot
• Three loading docks and an oversized drive‑in door
• Walk‑in cold storage already 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

$109,623

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

4.06%

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%

$2,192,460 $2.2M

Cap Rate 7%

$1,566,043 $1.6M

Cap Rate 9%

$1,218,033 $1.2M

Market Conditions

NOI Build-Up for 8,578 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

$137.9K $16.08/SF

− Vacancy

−$9.0K −$1.05/SF

EGI

$129.0K $15.03/SF

− OpEx

−$19.3K −$2.26/SF

NOI

$109.6K $12.78/SF

Area

Boston, MA

Vacancy

6.50%

Lease Rate

$16.08 /SF/Yr

Expense Ratio

15.00%

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%

$2,192,460

Cap Rate 7%

$1,566,043

Cap Rate 9%

$1,218,033

Alternative Uses

Best Use

Warehouse

$1.57M

$1.37M – $1.83M (±1% cap)

NOI $109,623 @ 7.0% cap · market cap 4.06%

Second Best

Industrial

$1.29M

$1.13M – $1.50M (±1% cap)

NOI $90,278 @ 7.0% cap · market cap 3.34%

Theoretical Best

Office A

$6.42M

$5.62M – $7.49M (±1% cap)

NOI $449,624 @ 7.0% cap · market cap 16.65%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Automated Food Services Big Box & Wholesale Store Broadway Stationers (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Law Firm Skin Care Clinic Hair Salon Pharmacy Cafe & Coffee Shop Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Dock-high doors

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

723

Businesses Nearby

Explore this area Business Placement

Demographics for 02128, MA

43,066

Population

19,124

Households

2.3

Avg Household Size

33

Median Age

38%

College-Educated

77%

High-School Grad

5.0 sq mi

ZIP Area

8,613

Density / Sq Mi

$92,079

Median Household Income

$48,549

Median Earnings

$2,009

Median Rent

$680,000

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this distribution centers located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Distribution center - Freestanding industrial facility with loading infrastructure, refrigerated storage, and substantial electrical capacity.

Where is this distribution center located?

The property is located at 141 Addison St East Boston, MA.

What is the asking price?

The asking price for this property is $2,700,000.

What are key features of this property?

This property features: 8,578 SF freestanding industrial building on a 0.23‑acre lot; Three loading docks and an oversized drive‑in door; Walk‑in cold storage already in place