New Mixed-Use
For Sale
$9,700,000
197 Green Boston Ma, Boston, MA 02130
2022 construction combines 23 apartments, leased retail, resident amenities, and on-site parking near MBTA Green Street station.
Property Size20,480 SF
Price / SF$473.63
Days on Market177
Property Features for 197 Green Boston Ma
General Information
Standard status
Active
Size
20,480 SF
Total Parking Spaces
6
Property subtype
Multi-family / 5+ Family - 5+ Units Up/Down
Zoning
LI
Net Operating Income
$690,378
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
5 x studio, 11 x 1-bedroom, 3 x 2-bedroom, 4 x artist live/work lofts
Multifamily Units
23
Additional Details
Gross Income
$810,729
Taxes and HOA fees
Annual Taxes
$72,671
Amenities
in-unit washer/dryers
mail room
bike rack room
room for trash & recycling
City/Town Sewer, Public
No, Yes, .00, Paved Drive, Paved Drive
No
23.0
23
23.00
Frame
Rubber
Building Details
Year Built
2022
Buildings
1
Tenancy
Multi
Listing Agency:
City Realty Group
(617) 751-5119
Listed By:
Sean Rose · License #9567526
(617) 751-5119
Source:
Compass
Added: Mar 8
Changed: Aug 31
Last Checked: Aug 30 at 11:59PM
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.
Completed in 2022, this mixed-use property contains 23 residential apartments and one retail unit. The residential component includes five studios, eleven one-bedroom apartments, three two-bedroom apartments, and four artist live/work lofts. Interiors feature modern cabinetry and vanities, stone countertops, new appliances and fixtures, in-unit washer/dryers, and abundant natural light. The building also provides a mail room, bike rack room, trash and recycling room, and separately metered utilities.
The retail space is leased to an interior designer through 6/30/28. Six parking spots are located on the premises. In Jamaica Plain, the property is steps from the MBTA Green Street station on the Orange Line. The property is identified with LI zoning.
The retail space is leased to an interior designer through 6/30/28. Six parking spots are located on the premises. In Jamaica Plain, the property is steps from the MBTA Green Street station on the Orange Line. The property is identified with LI zoning.
Key Highlights
- 2022‑built mixed‑use property with 23 residential apartments and 1 retail unit
- Residential mix includes five studios, eleven 1‑bedroom units, three 2‑bedroom units, and four artist live/work lofts
- Retail unit leased to an interior designer through 6/30/28
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
$603,832
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
6.23%
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%
$12,076,640
$12.1M
Cap Rate 7%
$8,626,171
$8.6M
Cap Rate 9%
$6,709,244
$6.7M
Market Conditions
NOI Build-Up for 20,480 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
$1.03M $50.40/SF
− Vacancy
−$227.1K −$11.09/SF
EGI
$805.1K $39.31/SF
− OpEx
−$201.3K −$9.83/SF
NOI
$603.8K $29.48/SF
Area
Boston, MA
Vacancy
22.00%
Lease Rate
$50.40 /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%
$12,076,640
Cap Rate 7%
$8,626,171
Cap Rate 9%
$6,709,244
Alternative Uses
Best Use
Office B
$8.63M
$7.55M – $10.06M
NOI $603,832 @ 7.0% cap · market cap 6.23%
Second Best
Mixed Use
$7.14M
$6.25M – $8.33M
NOI $499,968 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$15.34M
$13.42M – $17.89M
NOI $1,073,480 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
23
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,618
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
Market
Vacancy Rate% for Office in Boston, MA
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 - 2022 construction combines 23 apartments, leased retail, resident amenities, and on-site parking near MBTA Green Street station.
Where is this mixed-use property located?
The property is located at 197 Green Boston Ma Boston, MA.
What is the asking price?
The asking price for this property is $9,700,000.
What are key features of this property?
This property features: 2022‑built mixed‑use property with 23 residential apartments and 1 retail unit; Residential mix includes five studios, eleven 1‑bedroom units, three 2‑bedroom units, and four artist live/work lofts; Retail unit leased to an interior designer through 6/30/28
