Four-Unit Retail Strip with
For Sale
$1,495,000
1459-1469 River Street, Boston, MA 02136
Four-unit retail strip plus an additional vacant parking lot parcel offers flexible options for owner-users and investors.
Property Size3,757 SF
Lot Size0.21 Acres
Days on Market82
Property Features for 1459-1469 River Street
General Information
Standard status
Active
Size
3,757 SF
Lot size
0.21 Acres
Property subtype
Commercial
Zoning
Local Convenience (LC)
Taxes and HOA fees
Annual Taxes
$16,285
Building Details
Building Size
3,757 SF
Year Built
1930
Tenancy
Multi
Listing Agency:
eXp Realty
(508) 643-8166
Listed By:
Maher Realty Group
Source:
Classifiedrealtygroup
Added: Jun 5
Changed: Aug 24
Last Checked: Aug 24 at 3:46AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This offering presents a four-unit commercial retail strip designed for storefront leasing, accompanied by parking as a separate, directly-held parcel. The property includes the retail building at 1459–1469 River Street, set on a 4,128 SF parcel, along with a 5,096 SF vacant lot across the street that is currently used as a parking lot. The combined configuration supports a practical retail-and-parking setup for tenants and operators.
The site is described as a high-visibility corner location in Hyde Park, with vehicle-oriented visibility and an additional parking presence immediately across the street. Both parcels are located in the Local Convenience (LC) zoning district. Buyer and buyer’s agent are advised to verify all prospective use scenarios, as the listing notes flexibility for commercial, mixed-use, or residential conversion possibilities.
Historically, the location has served community retail, including a prior use as Hyde Park Pharmacy and later Richy’s General Store. The current structure and dual-parcel arrangement are well-suited for an owner-operator seeking control over both retail frontage and nearby parking, or for an investor looking to own a small retail strip with a dedicated parking component.
The site is described as a high-visibility corner location in Hyde Park, with vehicle-oriented visibility and an additional parking presence immediately across the street. Both parcels are located in the Local Convenience (LC) zoning district. Buyer and buyer’s agent are advised to verify all prospective use scenarios, as the listing notes flexibility for commercial, mixed-use, or residential conversion possibilities.
Historically, the location has served community retail, including a prior use as Hyde Park Pharmacy and later Richy’s General Store. The current structure and dual-parcel arrangement are well-suited for an owner-operator seeking control over both retail frontage and nearby parking, or for an investor looking to own a small retail strip with a dedicated parking component.
Key Highlights
- Four‑unit commercial retail strip on a corner lot with parking lot included in the property description.
- Building sits on a 4,128 SF parcel and is paired with a 5,096 SF vacant lot directly across the street.
- Vacant lot address: 1454 River Street; currently used as a parking lot (per description).
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
$60,640
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%
$1,212,800
$1.2M
Cap Rate 7%
$866,286
$866.3K
Cap Rate 9%
$673,778
$673.8K
Market Conditions
NOI Build-Up for 3,757 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
$94.7K $25.20/SF
− Vacancy
−$8.0K −$2.14/SF
EGI
$86.6K $23.06/SF
− OpEx
−$26.0K −$6.92/SF
NOI
$60.6K $16.14/SF
Area
Boston, MA
Vacancy
8.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,212,800
Cap Rate 7%
$866,286
Cap Rate 9%
$673,778
Alternative Uses
Best Use
Retail
$866.3K
$758.0K – $1.01M
NOI $60,640 @ 7.0% cap · market cap 4.06%
Second Best
Industrial
$564.9K
$494.3K – $659.0K
NOI $39,540 @ 7.0% cap · market cap 2.64%
Theoretical Best
Office A
$2.81M
$2.46M – $3.28M
NOI $196,927 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
18,516
Businesses Nearby
63k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Home Improvements & Furnishings 24%
Apparel 11%
Beauty & Spa 2%
McDonald's
Dining
31,271 visits/mo
0.5 miles
RH (Restoration Hardware)
Home Improvements & Furnishings
13,933 visits/mo
0.5 miles
Domino's Pizza
Dining
4,907 visits/mo
0.5 miles
Cartier
Apparel
4,827 visits/mo
0.4 miles
Blank Street Coffee
Dining
2,793 visits/mo
0.1 miles
Demographics for 02136, MA
35,102
Population
14,031
Households
2.5
Avg Household Size
39
Median Age
32%
College-Educated
88%
High-School Grad
4.6 sq mi
ZIP Area
7,631
Density / Sq Mi
$96,862
Median Household Income
$50,793
Median Earnings
$1,772
Median Rent
$566,300
Median Home Value
Market
Vacancy Rate% for Retail in Boston, MA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Four-unit retail strip plus an additional vacant parking lot parcel offers flexible options for owner-users and investors.
Where is this strip mall located?
The property is located at 1459-1469 River Street Boston, MA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Four‑unit commercial retail strip on a corner lot with parking lot included in the property description.; Building sits on a 4,128 SF parcel and is paired with a 5,096 SF vacant lot directly across the street.; Vacant lot address: 1454 River Street; currently used as a parking lot (per description).
