Building Details

Building Size 2,016 SF

Year Built 2016

Tenancy Single

Listing Agency: Carlton's Wharf & Co. Show Phone

Listed By: Jorge Rodriguez · License #9540521 Show Phone

Source: Iverty

Added: Aug 20 Changed: Oct 13 Last Checked: Oct 12 at 8:48PM

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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.

Key Highlights

• Three‑story, three‑unit mixed‑use building
• Commercial unit currently vacant
• Constructed in 2016

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$49,216

Cap Rate

6.57%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $49,216 @ 7.0% cap · market cap 6.57%

Second Best

Retail

$464.8K

$406.7K – $542.3K (±1% cap)

NOI $32,539 @ 7.0% cap · market cap 4.34%

Theoretical Best

Office A

$1.51M

$1.32M – $1.76M (±1% cap)

NOI $105,671 @ 7.0% cap · market cap 14.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick HVAC Service Pharmacy Locksmith (Bike/Boat/Book/etc) Store Acupuncture Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

3.9% 2019

4.6% 2020

4.2% 2021

4% 2022

3.5% 2023

3.2% 2024

3.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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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