Mixed-Use Portfolio with Retail and
New
For Sale
$2,900,000
171 Belmont St, Belmont, MA 02478
Adjacent residential and commercial buildings combine housing, office, and retail space under Belmont zoning designations.
Property Size2,696 SF
Lot Size0.19 Acres
Price / SF$1,075
Days on Market3
Property Features for 171 Belmont St
General Information
Standard status
Active
Size
2,696 SF
Lot size
0.19 Acres
Property subtype
Commercial
Zoning
1-A and MZOD4
Taxes and HOA fees
Annual Taxes
$11,743
Building Details
Year Built
1930
Buildings
2
Listing Agency:
(413) 333-7776
Listed By:
Albert Bouchie
Source:
Ma-cthomes
Added: Sep 8
Last Checked: Sep 9 at 2:12PM
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 Albert Bouchie
Investment Insights
Based on property information with market context.
This mixed-use offering includes two adjoining buildings sold together as one portfolio. The improvements comprise a three-family residential property and a separate three-unit building configured for retail and office use. Together, the buildings provide 6,363 square feet of combined living, office, and retail area on an 8,180-square-foot lot. The properties were built in 1930 and are located at 5 Marlboro St and 171–173 Belmont St in Belmont, Massachusetts.
The site falls within the Town of Belmont’s 1-A and MZOD4 designations under MBTA 3A zoning. Its blend of residential and commercial improvements creates a varied existing configuration for ownership, leasing, or future repositioning consistent with applicable zoning.
The site falls within the Town of Belmont’s 1-A and MZOD4 designations under MBTA 3A zoning. Its blend of residential and commercial improvements creates a varied existing configuration for ownership, leasing, or future repositioning consistent with applicable zoning.
Key Highlights
- Portfolio sale includes a three‑family residential building and a separate three‑unit retail/office building
- 6,363 SF of combined living, office, and retail area
- 8,180 sq ft lot serving the adjoining properties
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
$85,545
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
2.95%
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%
$1,710,900
$1.7M
Cap Rate 7%
$1,222,071
$1.2M
Cap Rate 9%
$950,500
$950.5K
Market Conditions
NOI Build-Up for 2,696 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
$146.2K $54.24/SF
− Vacancy
−$32.2K −$11.93/SF
EGI
$114.1K $42.31/SF
− OpEx
−$28.5K −$10.58/SF
NOI
$85.5K $31.73/SF
Area
Middlesex County, MA
Vacancy
22.00%
Lease Rate
$54.24 /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%
$1,710,900
Cap Rate 7%
$1,222,071
Cap Rate 9%
$950,500
Alternative Uses
Best Use
Office B
$1.22M
$1.07M – $1.43M
NOI $85,545 @ 7.0% cap · market cap 2.95%
Second Best
Multifamily LT 5
$815.0K
$713.1K – $950.8K
NOI $57,048 @ 7.0% cap · market cap 1.97%
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,722 @ 7.0% cap · market cap 3.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 02478, MA
27,286
Population
10,811
Households
2.5
Avg Household Size
42
Median Age
80%
College-Educated
98%
High-School Grad
4.6 sq mi
ZIP Area
5,932
Density / Sq Mi
$177,790
Median Household Income
$95,206
Median Earnings
$2,382
Median Rent
$1,108,800
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Adjacent residential and commercial buildings combine housing, office, and retail space under Belmont zoning designations.
Where is this mixed-use property located?
The property is located at 171 Belmont St Belmont, MA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Portfolio sale includes a three‑family residential building and a separate three‑unit retail/office building; 6,363 SF of combined living, office, and retail area; 8,180 sq ft lot serving the adjoining properties
