Hyde Park Commercial Investment
For Sale
$1,495,000
1459-1469 River Street, Boston, MA 02136
Four-unit retail strip with parking lot in prime location.
Property Size3,757 SF
Lot Size0.09 Acres
Price / SF$397.92
Days on Market303
Property Features for 1459-1469 River Street
General Information
Standard status
Active
Size
3,757 SF
Lot size
0.09 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$16,285
Amenities
Rubber Roof
Building Details
Year Built
1930
Listing Agency:
eXp Realty
(888) 854-7493
Listed By:
Maher Realty Group
Source:
Corcoran
Added: Oct 14, 2025
Changed: Aug 9
Last Checked: Jul 16 at 2:19AM
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 commercial investment opportunity features a four-unit retail strip located on a high-visibility corner with significant vehicle traffic. The building is situated on a 4,128 square foot parcel and includes a 5,096 square foot vacant lot directly across the street, currently utilized as a parking lot. The property is located in the Local Convenience (LC) zoning district, offering flexible use potential, including commercial, mixed-use, or residential conversion. Buyers are advised to verify zoning regulations. The property formerly housed the Hyde Park Pharmacy and Richy’s General Store, establishing a strong community presence and visibility. This property is suitable for investors, owner-users, or developers seeking upside in a high-traffic neighborhood. The building size is 3,757 square feet.
Key Highlights
- Prime Hyde Park location on a high‑visibility corner with strong vehicle traffic.
- Includes a 5,096 SF vacant lot across the street, currently used as a parking lot.
- Flexible use potential with Local Convenience (LC) zoning, allowing commercial, mixed‑use, or residential conversion.
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
Location Intelligence
Trade Area within ½ mile
18,516
Businesses Nearby
63k
Monthly Visits Nearby
Balanced
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Four-unit retail strip with parking lot in prime location.
Where is this storefront property 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: Prime Hyde Park location on a high‑visibility corner with strong vehicle traffic.; Includes a 5,096 SF vacant lot across the street, currently used as a parking lot.; Flexible use potential with Local Convenience (LC) zoning, allowing commercial, mixed‑use, or residential conversion.
