Convenience Store Condo with
For Sale
$649,000
213-215 Trenton Unit 1, Boston, MA 02128
Street-level commercial condominium with an operating convenience store, dedicated storage, and included business equipment.
Property Size1,910 SF
Price / SF$676.04
Days on Market8
Property Features for 213-215 Trenton Unit 1
General Information
Standard status
Active
Size
1,910 SF
Property subtype
Commercial
Additional Details
Floor
Ground
Business Included
Yes
Amenities
unfinished basement
Building Details
Building Size
1,910 SF
Year Built
1910
Listing Agency:
Fathom Realty MA
(888) 455-6040
Listed By:
Marhaba Khalil
(508) 642-7252
Source:
Iverty
Added: Sep 15
Changed: Sep 21
Last Checked: Sep 22 at 5:04PM
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 Fathom Realty MA
Investment Insights
Based on property information with market context.
This street-level commercial condominium at 213-215 Trenton Unit 1 includes an established convenience store business, the underlying commercial condo, equipment, fixtures, and existing inventory. The approximately 960-square-foot space is configured for continued retail operation and includes a Starbucks coffee machine, ATM, four coolers, two freezers, and a separate ice cream freezer. An unfinished basement with direct interior access provides additional storage.
The business has operated at the property for 14 years, and the current owner is retiring. The sale combines the real estate and operating business in Boston’s Eagle Hill neighborhood, with the premises located at the property’s stated 02128 address. Built in 1910, the property offers a street-level commercial setting with supporting storage and operational equipment already in place.
The business has operated at the property for 14 years, and the current owner is retiring. The sale combines the real estate and operating business in Boston’s Eagle Hill neighborhood, with the premises located at the property’s stated 02128 address. Built in 1910, the property offers a street-level commercial setting with supporting storage and operational equipment already in place.
Key Highlights
- Approximately 960 square feet of street‑level commercial space
- Convenience store business, commercial condo, equipment, fixtures, and existing inventory included
- Includes Starbucks coffee machine, ATM, four coolers, two freezers, and an ice cream freezer
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
$18,481
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
2.85%
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%
$369,620
$369.6K
Cap Rate 7%
$264,014
$264.0K
Cap Rate 9%
$205,344
$205.3K
Market Conditions
NOI Build-Up for 960 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
$26.5K $27.60/SF
− Vacancy
−$1.9K −$1.93/SF
EGI
$24.6K $25.67/SF
− OpEx
−$6.2K −$6.42/SF
NOI
$18.5K $19.25/SF
Area
Boston, MA
Vacancy
7.00%
Lease Rate
$27.60 /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%
$369,620
Cap Rate 7%
$264,014
Cap Rate 9%
$205,344
Alternative Uses
Best Use
Specialty Retail
$264.0K
$231.0K – $308.0K
NOI $18,481 @ 7.0% cap · market cap 2.85%
Second Best
Retail
$221.4K
$193.7K – $258.3K
NOI $15,495 @ 7.0% cap · market cap 2.39%
Theoretical Best
Office A
$718.8K
$629.0K – $838.7K
NOI $50,319 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,601
Businesses Nearby
99k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Groceries 39%
Dining 9%
Shaw's Supermarket
Groceries
38,339 visits/mo
0.5 miles
Mobil
Shops & Services
15,003 visits/mo
0.2 miles
Family Dollar
Shops & Services
9,246 visits/mo
0.4 miles
BP
Shops & Services
9,218 visits/mo
0.3 miles
Mobil
Shops & Services
6,337 visits/mo
0.4 miles
Demographics for 02128, MA
43,066
Population
19,124
Households
2.3
Avg Household Size
33
Median Age
38%
College-Educated
77%
High-School Grad
5.0 sq mi
ZIP Area
8,613
Density / Sq Mi
$92,079
Median Household Income
$48,549
Median Earnings
$2,009
Median Rent
$680,000
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?
Grocery and convenience store - Street-level commercial condominium with an operating convenience store, dedicated storage, and included business equipment.
Where is this grocery and convenience store located?
The property is located at 213-215 Trenton Unit 1 Boston, MA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Approximately 960 square feet of street‑level commercial space; Convenience store business, commercial condo, equipment, fixtures, and existing inventory included; Includes Starbucks coffee machine, ATM, four coolers, two freezers, and an ice cream freezer
