Building Details

Building Size 6,400 SF

Year Built 2015

Stories 4

Listing Agency: Boston Realty Advisors Show Phone

Listed By: Nicholas Herz Show Phone

Source: Churchillprop

Added: Apr 7 Changed: Oct 6 Last Checked: Oct 19 at 4:51AM

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Investment Insights

Based on property information with market context.

This mixed-use offering combines existing residential income with retail support. 194–198 Bunker Hill Street includes 2 residential units and the Bunker Hill laundromat. The property also features an additional, currently vacant single-story building at 198 Bunker Hill Street, which is fully approved for redevelopment into a new four-unit project.

Approvals are in place for 2-bed/2-bath apartments or for-sale condominiums, with floor plans and Matterports available upon request.

The opportunity includes on-site residential living arrangements, an operating laundromat component, and a redevelopment pathway through the approved four-unit plan.

Key Highlights

• Mixed‑use asset with three addresses: 89 Green Street and 194–198 Bunker Hill Street
• 89 Green Street has 3 residential units; Year built 2015
• 194 Bunker Hill Street includes 2 residential units and the Bunker Hill laundromat

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$156,240

Cap Rate

3.48%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,124,800 $3.1M

Cap Rate 7%

$2,232,000 $2.2M

Cap Rate 9%

$1,736,000 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,400 SF

Gross rent

$268.8K $42.00/SF

− Vacancy

−$18.8K −$2.94/SF

EGI

$250.0K $39.06/SF

− OpEx

−$93.7K −$14.65/SF

NOI

$156.2K $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%

$3,124,800

Cap Rate 7%

$2,232,000

Cap Rate 9%

$1,736,000

Alternative Uses

Best Use

Mixed Use

$2.23M

$1.95M – $2.60M (±1% cap)

NOI $156,240 @ 7.0% cap · market cap 3.48%

Second Best

Apartment 5plus

$2.15M

$1.88M – $2.51M (±1% cap)

NOI $150,349 @ 7.0% cap · market cap 3.35%

Theoretical Best

Office A

$4.79M

$4.19M – $5.59M (±1% cap)

NOI $335,462 @ 7.0% cap · market cap 7.47%

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

Property Analytics

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Current Use

Mixed-use properties

Suggested Use

Top Pick Dental Office Nail Salon Spa & Massage Center Hair Salon HVAC Service Kitchen & Bath Showroom

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

5

Residential units

Location Intelligence

Trade Area within ½ mile

1,662

Businesses Nearby

Explore this area Business Placement

Demographics for 02129, MA

19,120

Population

9,987

Households

1.9

Avg Household Size

36

Median Age

71%

College-Educated

94%

High-School Grad

1.4 sq mi

ZIP Area

13,657

Density / Sq Mi

$157,192

Median Household Income

$101,310

Median Earnings

$2,258

Median Rent

$926,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Includes residential units and a Bunker Hill laundromat, plus an approved redevelopment for a four-unit property.

Where is this mixed-use property located?

The property is located at 194-198 Bunker Hill St Boston, MA.

What is the asking price?

The asking price for this property is $4,490,000.

What are key features of this property?

This property features: Mixed‑use asset with three addresses: 89 Green Street and 194–198 Bunker Hill Street; 89 Green Street has 3 residential units; Year built 2015; 194 Bunker Hill Street includes 2 residential units and the Bunker Hill laundromat