Mixed-Use Building with
197 Green Boston, MA 02130
197 Green, Boston, MA, 02130
$10,975,000
For Sale
$10,975,000
Built in 2022, the property includes 23 apartments and one leased retail unit with separately metered utilities.
Property Size20,480 SF
Price / SF$535.89
Days on Market151
Property Features for 197 Green
General Information
- Standard status
- Active
- Size
- 20,480 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 2022
Listing agency
City Realty Group
Listed by
Sean Rose
(508) 394-6588
Source
Capecodera
Added: Feb 20 Updated: Jul 20 at 4:14PM Checked: Jul 20 at 4:14PM
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
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.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $909.3k | $44.40 |
| − Vacancy | −$34.6k | −$1.69 |
| EGI | $874.8k | $42.71 |
| − OpEx | −$393.6k | −$19.22 |
| NOI | $481.1k | $23.49 |
20,480 SF · lease $44.40/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$6.87M
$6.01M – $8.02M
NOI $481,117 @ 7.0% cap · market cap 4.38%
Second Best
Retail
$4.72M
$4.13M – $5.51M
NOI $330,559 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$15.34M
$13.42M – $17.89M
NOI $1,073,480 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
197 Green Street
Apartment Building
Similar For Sale Nearby
FAQs
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 $10,975,000.
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.
