Office Units in Vendome
For Sale
Contact for pricing
160-170 Commonwealth Ave, Boston, MA 02116
First-floor and garden-level office units offered for sale with separately metered electricity and water.
Property Size4,637 SF
Price / SF$681.48
Days on Market875
Property Features for 160-170 Commonwealth Ave
General Information
Standard status
Active
Size
4,637 SF
Property subtype
OFFICE
Additional Details
Utilities to Site
Yes
Listing Agency:
Boston Realty Advisors
(617) 375-7900
Listed By:
Justin Harlow
(617) 850-9613
Source:
Moodyscre
Added: Apr 22, 2024
Changed: Aug 13
Last Checked: Sep 13 at 9:54AM
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 Boston Realty Advisors
Investment Insights
Based on property information with market context.
Office units are available for sale within “The Vendome” building at 160–170 Commonwealth Ave. The offering includes first-floor units U-3B, U-4A, and U-5, along with a garden-level unit L-7. Delivery is described as free and clear, with no existing lease(s) in place.
The property is positioned in a centrally located Boston submarket, presented with the building’s historic character and French-inspired design as part of its appeal for commercial retail, office, and medical users.
Additional stated carrying costs include condo fees of $60,756 for the first floor (CY 2024) and $43,152 for the garden level (CY 2024). Real estate taxes are listed at $44,102.53 for the first floor (FY 2024) and $21,079 for the garden level (FY 2024). Utilities are separately metered for electricity and water.
The property is positioned in a centrally located Boston submarket, presented with the building’s historic character and French-inspired design as part of its appeal for commercial retail, office, and medical users.
Additional stated carrying costs include condo fees of $60,756 for the first floor (CY 2024) and $43,152 for the garden level (CY 2024). Real estate taxes are listed at $44,102.53 for the first floor (FY 2024) and $21,079 for the garden level (FY 2024). Utilities are separately metered for electricity and water.
Key Highlights
- For sale: First‑floor office units U‑3B, U‑4A & U‑5 for $3,334,000
- For sale: Garden‑level office unit L‑7 for $1,965,000
- Free and clear delivery with no existing leases 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
$157,962
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
5.00%
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%
$3,159,240
$3.2M
Cap Rate 7%
$2,256,600
$2.3M
Cap Rate 9%
$1,755,133
$1.8M
Market Conditions
NOI Build-Up for 4,637 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
$249.8K $53.88/SF
− Vacancy
−$39.2K −$8.46/SF
EGI
$210.6K $45.42/SF
− OpEx
−$52.7K −$11.36/SF
NOI
$158.0K $34.07/SF
Area
ZIP 02116
Vacancy
15.70%
Lease Rate
$53.88 /SF/Yr
Expense Ratio
25.00%
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%
$3,159,240
Cap Rate 7%
$2,256,600
Cap Rate 9%
$1,755,133
Alternative Uses
Best Use
Office B
$2.26M
$1.97M – $2.63M
NOI $157,962 @ 7.0% cap · market cap 5.00%
Second Best
Healthcare Medical
$1.22M
$1.07M – $1.42M
NOI $85,224 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$2.75M
$2.40M – $3.20M
NOI $192,156 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
10,350
Businesses Nearby
Explore this area
Business Placement
Demographics for 02116, MA
23,408
Population
14,110
Households
1.7
Avg Household Size
36
Median Age
77%
College-Educated
93%
High-School Grad
0.6 sq mi
ZIP Area
39,013
Density / Sq Mi
$127,309
Median Household Income
$85,296
Median Earnings
$2,341
Median Rent
$1,583,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Boston, MA
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Frequently Asked Questions
What type of property is this?
Office units - First-floor and garden-level office units offered for sale with separately metered electricity and water.
Where is this office units located?
The property is located at 160-170 Commonwealth Ave Boston, MA.
What is the asking price?
The asking price for this property is $3,160,000.
What are key features of this property?
This property features: For sale: First‑floor office units U‑3B, U‑4A & U‑5 for $3,334,000; For sale: Garden‑level office unit L‑7 for $1,965,000; Free and clear delivery with no existing leases in place
