Historic West Roxbury
For Sale
$999,000
1646C Centre St, Boston, MA 02132
Iconic Federal-style colonial suitable for professional or residential use.
Property Size1,913 SF
Lot Size0.22 Acres
Days on Market257
Property Features for 1646C Centre St
General Information
Standard status
Active
Size
1,913 SF
Lot size
0.22 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,112
Building Details
Building Size
1,913 SF
Year Built
1939
Listing Agency:
Gilmore Murphy Realty LLC
(617) 699-9896
Listed By:
Condon-Droney Team
(617) 699-9896
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 11
Last Checked: Aug 11 at 7:25AM
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 Gilmore Murphy Realty LLC
Investment Insights
Based on property information with market context.
This historic Federal-style colonial, an iconic landmark in West Roxbury, is situated just outside the vibrant business district. The property is conveniently located on the bus line, a 3-minute walk to the commuter rail, and a short drive from Faulkner Hospital and downtown Boston. Previously used as a law firm, the property was originally a single-family residence before 1991. The property offers possibilities for professional space or residential use. With city approval, the property could be converted back to residential use or adapted for another professional use. The expansive first floor features an open area, a conference room, an office, two half baths, and a kitchenette. The second floor includes two large offices and a full bath. The finished basement provides additional office space with room for expansion and storage, as well as a walk-up attic. An underground garage and storage area are included. On-property parking is available for 6+ vehicles with expansion potential.
Key Highlights
- Prime location: close to public transportation and major destinations.
- Flexible usage: suitable for residential or professional purposes.
- Ample parking: on‑property parking for 6+ vehicles with expansion potential.
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
$56,403
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
5.65%
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%
$1,128,060
$1.1M
Cap Rate 7%
$805,757
$805.8K
Cap Rate 9%
$626,700
$626.7K
Market Conditions
NOI Build-Up for 1,913 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
$96.4K $50.40/SF
− Vacancy
−$21.2K −$11.09/SF
EGI
$75.2K $39.31/SF
− OpEx
−$18.8K −$9.83/SF
NOI
$56.4K $29.48/SF
Area
Boston, MA
Vacancy
22.00%
Lease Rate
$50.40 /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%
$1,128,060
Cap Rate 7%
$805,757
Cap Rate 9%
$626,700
Alternative Uses
Best Use
Office B
$805.8K
$705.0K – $940.1K
NOI $56,403 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,272 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
999
Businesses Nearby
Explore this area
Business Placement
Demographics for 02132, MA
27,111
Population
11,967
Households
2.3
Avg Household Size
44
Median Age
64%
College-Educated
95%
High-School Grad
4.9 sq mi
ZIP Area
5,533
Density / Sq Mi
$139,545
Median Household Income
$75,760
Median Earnings
$2,140
Median Rent
$714,000
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 building - Iconic Federal-style colonial suitable for professional or residential use.
Where is this office building located?
The property is located at 1646C Centre St Boston, MA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Prime location: close to public transportation and major destinations.; Flexible usage: suitable for residential or professional purposes.; Ample parking: on‑property parking for 6+ vehicles with expansion potential.
