Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    21 Merchant Row #4B Boston, MA 02109

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,083,450

    Office condo for sale in a historic Boston location.

    Type:Commercial
    Added:
    May 29, 2025
    Days on Market:
    308
    Last Refresh:
    Mar 27 at 12:56 am

    Property Features for 21 Merchant Row #4B

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    William Catlin

    Listing agent William Catlin

    Listing office Boston Realty Advisors

    Listing date May 29, 2025

    Source Corcoran

    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 Realty Advisors

    Overview

    Office Condo in Historic Location

    This office condo for sale features a creative brick and beam design. The property is located in a historic area.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Boston
    County
    Suffolk
    State
    Massachusetts
    Longitude
    -71.0545
    Latitude
    42.363

    Nearby Similar for Sale

    • $1,875,000
      7,386 SF

      Mixed-Use Investment Opportunity in Boston

      Spacious mixed-use property with warehouse and residential units.
      35/0 Heron, Boston, MA 02132
      View Details
    • $1,449,900
      2,743 SF

      Two-Family Residence in Lower Allston

      Prime location near Boston Landing and Harvard. Income-producing property.
      5 Alcott St, Boston, MA 02134
      View Details
    • $949,000
      3,213 SF

      Dorchester Multifamily Investment Opportunity

      Multifamily property in Dorchester with garage parking and modern updates.
      87 Burt St, Boston, MA 02124
      View Details
    • $2,950,000
      5,476 SF

      Brighton Multifamily Investment Opportunity

      Six-family property in prime Brighton location with strong rental potential.
      65-67 Surrey, Boston, MA 02135
      View Details
    • $1,350,000
      4,272 SF

      Dorchester Triplex Near Fields Corner

      Renovated triple decker with strong rent roll near T stop.
      20 Corona St, Boston, MA 02124
      View Details
    • $2,695,000
      4,320 SF

      Revamped North End Multifamily Building

      Fully rented, renovated 4-unit building in Boston's North End.
      144-144A Salem St, Boston, MA 02113
      View Details
    • $729,900
      2,926 SF

      Two-Family Home, Vacant Units

      Two-unit multi-family property in a convenient location, delivered vacant.
      10 Carmen St, Boston, MA 02121
      View Details
    • $1,650,000
      1,839 SF

      Renovated Multi-Family Brick Building

      Turn-key, renovated 3-family building near public transportation and universities.
      23 Warwick St, Boston, MA 02120
      View Details
    • $740,000
      2,734 SF

      Dorchester Two-Family with Renovation Potential

      Spacious two-family in Dorchester with renovation and value-add potential.
      19 Elmhurst St, Boston, MA 02124
      View Details
    • $4,500,000
      5,467 SF

      Brighton Center Multifamily Redevelopment Opportunity

      Four-family property in Brighton Center near Boston Landing.
      200-202 Market Street, Boston, MA 02135
      View Details
    • $1,295,000
      3,399 SF

      Two-Family Investment Property in Boston

      Two-family property with updated kitchens and baths on corner lot.
      87 Etna Street, Boston, MA 02135
      View Details
    • $1,499,000
      3,864 SF

      Renovated Duplex Near Public Transit

      Meticulously maintained duplex with high-end finishes and strong rental income.
      41-43 Arlington St, Boston, MA 02135
      View Details

    FAQs

    What type of property is this?
    Office units - Office condo for sale in a historic Boston location.
    Where is this office units located?
    The property is located at 21 Merchant Row #4B Boston, MA.
    What is the asking price?
    The asking price for this property is $1,083,450.
    What are key features of this property?
    This property features: Historic location; **Brick and beam office space**; **Creative office space**
    (617) 375-7900
    We can help!
    Listing Contact
    William Catlin
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!