Mixed-Use Building with
For Sale
$9,340,000
197 Green, Boston, MA 02130
Built in 2022, the property includes 23 apartments and one leased retail unit with separately metered utilities.
Property Size20,480 SF
Price / SF$456.05
Days on Market225
Property Features for 197 Green
General Information
Standard status
Active
Size
20,480 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
LI
Net Operating Income
$690,378
Additional Details
Business Included
Yes
Multifamily Units
23
Taxes and HOA fees
Annual Taxes
$72,671
Building Details
Building Size
20,480 SF
Year Built
2022
Stories
4
Tenancy
Multi
Listing Agency:
City Realty Group
(617) 751-5119
Listed By:
Sean Rose · License #9567526
(617) 997-8351
Source:
Churchillprop
Added: Mar 10
Changed: Oct 15
Last Checked: Oct 19 at 4:20AM
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 City Realty Group
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Investment Insights
Based on property information with market context.
This newly built mixed-use property was constructed in 2022 and contains 23 residential apartments and one retail unit. The residential units feature modern, high-end finishes including stone countertops, modern cabinets and vanities, all-new appliances and fixtures, and in-unit washer/dryers. Apartment configurations include five studios, eleven one-bedroom units, three two-bedroom units, and four artist live/work lofts. Building amenities include a mail room, a bike rack room, and a room for trash and recycling, along with separately metered utilities.
The retail unit is leased to an interior designer through 6/30/28. The property includes six parking spots on the premises for additional income. Convenient access is described as being steps to the Orange Line via the MBTA Green Street station.
The current gross income for the building is stated as $810,729.48 annually, with rent growth upside noted in the remarks.
The retail unit is leased to an interior designer through 6/30/28. The property includes six parking spots on the premises for additional income. Convenient access is described as being steps to the Orange Line via the MBTA Green Street station.
The current gross income for the building is stated as $810,729.48 annually, with rent growth upside noted in the remarks.
Key Highlights
- Built in 2022: fully stabilized mixed‑use building with 23 residential apartments and 1 retail unit.
- Unit mix includes five studios, eleven 1‑bedroom units, three 2‑bedroom units, and four artist live/work lofts.
- Leased retail unit to an interior designer through 6/30/28.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$481,117
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,622,340
$9.6M
Cap Rate 7%
$6,873,100
$6.9M
Cap Rate 9%
$5,345,744
$5.3M
Market Conditions
NOI Build-Up for 20,480 SF
Gross rent
$909.3K $44.40/SF
− Vacancy
−$34.6K −$1.69/SF
EGI
$874.8K $42.71/SF
− OpEx
−$393.6K −$19.22/SF
NOI
$481.1K $23.49/SF
Area
Boston, MA
Vacancy
3.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,622,340
Cap Rate 7%
$6,873,100
Cap Rate 9%
$5,345,744
Alternative Uses
Best Use
Apartment 5plus
$6.87M
$6.01M – $8.02M
NOI $481,117 @ 7.0% cap · market cap 5.15%
Second Best
Retail
$4.72M
$4.13M – $5.51M
NOI $330,559 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$15.34M
$13.42M – $17.89M
NOI $1,073,480 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
23
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,877
Businesses Nearby
Explore this area
Business Placement
Demographics for 02130, MA
38,284
Population
18,802
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
94%
High-School Grad
3.5 sq mi
ZIP Area
10,938
Density / Sq Mi
$130,533
Median Household Income
$73,238
Median Earnings
$2,434
Median Rent
$763,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Built in 2022, the property includes 23 apartments and one leased retail unit with separately metered utilities.
Where is this apartment building located?
The property is located at 197 Green Boston, MA.
What is the asking price?
The asking price for this property is $9,340,000.
What are key features of this property?
This property features: Built in 2022: fully stabilized mixed‑use building with 23 residential apartments and 1 retail unit.; Unit mix includes five studios, eleven 1‑bedroom units, three 2‑bedroom units, and four artist live/work lofts.; Leased retail unit to an interior designer through 6/30/28.
