Three-Unit Mixed-Use
For Sale
$749,000
188-190 Sumner St, Boston, MA 02128
Vacant commercial space near the MBTA Blue Line, downtown Boston, Logan Airport, and the Maverick waterfront.
Property Size2,016 SF
Days on Market10
Property Features for 188-190 Sumner St
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Commercial
Building Details
Building Size
2,016 SF
Year Built
2016
Tenancy
Single
Listing Agency:
Carlton's Wharf & Co.
(617) 331-7473
Listed By:
Jorge Rodriguez
(617) 331-7473
Source:
Iverty
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 28 at 1:57PM
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 Carlton's Wharf & Co.
Investment Insights
Based on property information with market context.
This mixed-use property comprises a three-story building with three units, constructed in 2016. One commercial unit is currently vacant, providing available space within the existing building for an owner-user or investor.
The property is located at 188-190 Sumner Street in East Boston’s Maverick Square area. It is steps from the MBTA Blue Line’s Maverick station, with access to downtown Boston and Logan Airport. The building is also next to the waterfront and has a reported walk score of 96.
The property is located at 188-190 Sumner Street in East Boston’s Maverick Square area. It is steps from the MBTA Blue Line’s Maverick station, with access to downtown Boston and Logan Airport. The building is also next to the waterfront and has a reported walk score of 96.
Key Highlights
- Three‑story, three‑unit mixed‑use building
- Commercial unit currently vacant
- Constructed in 2016
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
$49,216
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
6.57%
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%
$984,320
$984.3K
Cap Rate 7%
$703,086
$703.1K
Cap Rate 9%
$546,844
$546.8K
Market Conditions
NOI Build-Up for 2,016 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
$84.7K $42.00/SF
− Vacancy
−$5.9K −$2.94/SF
EGI
$78.7K $39.06/SF
− OpEx
−$29.5K −$14.65/SF
NOI
$49.2K $24.41/SF
Area
Boston, MA
Vacancy
7.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
37.50%
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%
$984,320
Cap Rate 7%
$703,086
Cap Rate 9%
$546,844
Alternative Uses
Best Use
Mixed Use
$703.1K
$615.2K – $820.3K
NOI $49,216 @ 7.0% cap · market cap 6.57%
Second Best
Retail
$464.8K
$406.7K – $542.3K
NOI $32,539 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,671 @ 7.0% cap · market cap 14.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,956
Businesses Nearby
254k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 28%
Groceries 15%
Apparel 10%
Shaw's Supermarket
Groceries
38,339 visits/mo
0.5 miles
Dunkin' Donuts
Dining
25,268 visits/mo
0.1 miles
Marshalls
Apparel
24,698 visits/mo
0.4 miles
McDonald's
Dining
23,404 visits/mo
0.3 miles
Burger King
Dining
18,940 visits/mo
0.1 miles
Demographics for 02128, MA
43,066
Population
19,124
Households
2.3
Avg Household Size
33
Median Age
38%
College-Educated
77%
High-School Grad
5.0 sq mi
ZIP Area
8,613
Density / Sq Mi
$92,079
Median Household Income
$48,549
Median Earnings
$2,009
Median Rent
$680,000
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?
Mixed-use property - Vacant commercial space near the MBTA Blue Line, downtown Boston, Logan Airport, and the Maverick waterfront.
Where is this mixed-use property located?
The property is located at 188-190 Sumner St Boston, MA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Three‑story, three‑unit mixed‑use building; Commercial unit currently vacant; Constructed in 2016
