Mixed-Use Property with Office
For Sale
$1,300,000
193-195 Winthrop St, Winthrop, MA 02152
Corner-lot property combines professional office space with two residential units and off-street parking.
Property Size2,799 SF
Price / SF$464.45
Days on Market112
Property Features for 193-195 Winthrop St
General Information
Standard status
Active
Size
2,799 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Zoning
center dis
Net Operating Income
$51,600
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 2BR/1.5BA, 1 x 3BR/1BA
Multifamily Units
2
Office Units
1
Additional Details
Floor
Ground
Taxes and HOA fees
Annual Taxes
$6,980
Building Details
Building Size
2,799 SF
Year Built
1880
Stories
4
Tenancy
Multi
Listing Agency:
Boston Hub Real Estate
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 11
Changed: Aug 29
Last Checked: Aug 29 at 2:48PM
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 Hub Real Estate
Investment Insights
Based on property information with market context.
This 2,799-square-foot mixed-use property, built in 1880, combines an office component with residential accommodations. The ground-floor office includes a reception area, conference room, workspace, and half bath. Residential space includes a renovated two-level, two-bedroom, one-and-a-half-bath unit with ocean views from the bedroom, along with a separate five-room, three-bedroom, one-bath unit. A basement provides additional storage space.
The property occupies a corner lot with off-street parking and is located along Winthrop Street in Winthrop, Massachusetts. The surrounding area includes schools, restaurants, and shops, with the public beach and major highway access described as minutes away. Zoning is identified as center dis.
The property occupies a corner lot with off-street parking and is located along Winthrop Street in Winthrop, Massachusetts. The surrounding area includes schools, restaurants, and shops, with the public beach and major highway access described as minutes away. Zoning is identified as center dis.
Key Highlights
- 2,799‑square‑foot mixed‑use property on a corner lot
- Ground‑floor office with reception area, conference room, workspace, and half bath
- Renovated two‑level, 2‑bedroom, 1.5‑bath residential unit
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
$68,199
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
5.25%
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%
$1,363,980
$1.4M
Cap Rate 7%
$974,271
$974.3K
Cap Rate 9%
$757,767
$757.8K
Market Conditions
NOI Build-Up for 2,799 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
$111.8K $39.96/SF
− Vacancy
−$20.9K −$7.47/SF
EGI
$90.9K $32.49/SF
− OpEx
−$22.7K −$8.12/SF
NOI
$68.2K $24.37/SF
Area
Suffolk County, MA
Vacancy
18.70%
Lease Rate
$39.96 /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%
$1,363,980
Cap Rate 7%
$974,271
Cap Rate 9%
$757,767
Alternative Uses
Best Use
Office B
$974.3K
$852.5K – $1.14M
NOI $68,199 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$694.6K
$607.8K – $810.4K
NOI $48,622 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,990 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
821
Businesses Nearby
Explore this area
Business Placement
Demographics for 02152, MA
19,316
Population
8,467
Households
2.3
Avg Household Size
44
Median Age
43%
College-Educated
95%
High-School Grad
1.7 sq mi
ZIP Area
11,362
Density / Sq Mi
$106,357
Median Household Income
$68,062
Median Earnings
$1,909
Median Rent
$606,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner-lot property combines professional office space with two residential units and off-street parking.
Where is this mixed-use property located?
The property is located at 193-195 Winthrop St Winthrop, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 2,799‑square‑foot mixed‑use property on a corner lot; Ground‑floor office with reception area, conference room, workspace, and half bath; Renovated two‑level, 2‑bedroom, 1.5‑bath residential unit
