Three-Corner Storefront
New
For Sale
$4,000,000
210 South St Unit Comm, Boston, MA 02111
Ground-floor commercial space with new windows on three corners and exposure near South Station.
Property Size7,774 SF
Price / SF$514.54
Days on Market5
Property Features for 210 South St Unit Comm
General Information
Standard status
Active
Size
7,774 SF
Property subtype
Commercial
Additional Details
Floor
Ground
Taxes and HOA fees
Annual Taxes
$25,843
Building Details
Year Built
1920
Listing Agency:
LAER Realty Partners
(413) 333-7776
Listed By:
Joan Barker
Source:
Ma-cthomes
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 17 at 3:39AM
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 LAER Realty Partners
Investment Insights
Based on property information with market context.
This ground-floor storefront property contains 7,774 SF within a building constructed in 1920. New 10-foot windows extend around three corners, bringing natural light into the space and creating prominent areas for signage, branding, and displays. The layout is identified as suitable for retail, restaurant, medical, office, and service-oriented concepts, subject to applicable use restrictions.
The property is located at 210 South St Unit Comm in Boston’s Leather District, near South Station, the Seaport, Downtown, and Chinatown. Its setting benefits from weekday pedestrian, resident, and commuter activity. More than 10,000 commuter vehicles exit Mass/Pike 90 directly across from the property each weekday, providing additional exposure for the storefront.
The property is located at 210 South St Unit Comm in Boston’s Leather District, near South Station, the Seaport, Downtown, and Chinatown. Its setting benefits from weekday pedestrian, resident, and commuter activity. More than 10,000 commuter vehicles exit Mass/Pike 90 directly across from the property each weekday, providing additional exposure for the storefront.
Key Highlights
- 7,774 SF of ground‑floor commercial space
- New 10‑foot windows wrap three corners of the building
- Located near South Station in Boston’s Leather District
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
$125,477
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
3.14%
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%
$2,509,540
$2.5M
Cap Rate 7%
$1,792,529
$1.8M
Cap Rate 9%
$1,394,189
$1.4M
Market Conditions
NOI Build-Up for 7,774 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
$195.9K $25.20/SF
− Vacancy
−$16.7K −$2.14/SF
EGI
$179.3K $23.06/SF
− OpEx
−$53.8K −$6.92/SF
NOI
$125.5K $16.14/SF
Area
Boston, MA
Vacancy
8.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$2,509,540
Cap Rate 7%
$1,792,529
Cap Rate 9%
$1,394,189
Alternative Uses
Best Use
Retail
$1.79M
$1.57M – $2.09M
NOI $125,477 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.82M
$5.09M – $6.79M
NOI $407,482 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
20,263
Businesses Nearby
126k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 39%
Hotels & Casinos 33%
Dining 26%
Shops & Services 1%
Whole Foods Market
Groceries
43,710 visits/mo
0.5 miles
McDonald's
Dining
31,271 visits/mo
0.4 miles
Moxy Boston Downtown
Hotels & Casinos
26,386 visits/mo
0.3 miles
DoubleTree by Hilton Hotel Boston - Downtown
Hotels & Casinos
15,586 visits/mo
0.4 miles
Marsh
Groceries
5,564 visits/mo
0.3 miles
Demographics for 02111, MA
9,716
Population
4,535
Households
2.1
Avg Household Size
34
Median Age
57%
College-Educated
83%
High-School Grad
0.2 sq mi
ZIP Area
48,580
Density / Sq Mi
$70,865
Median Household Income
$42,225
Median Earnings
$1,994
Median Rent
$953,400
Median Home Value
Market
Vacancy Rate% for Retail in Boston, MA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Ground-floor commercial space with new windows on three corners and exposure near South Station.
Where is this storefront property located?
The property is located at 210 South St Unit Comm Boston, MA.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 7,774 SF of ground‑floor commercial space; New 10‑foot windows wrap three corners of the building; Located near South Station in Boston’s Leather District
