Mixed-Use Building with
246 West Broadway Boston, MA 02127
246 West Broadway, Boston, MA, 02127
$7,899,000
For Sale
$7,899,000
Built in 2017, this mixed-use property includes 8 apartments and a fully leased retail suite.
Property Size13,650 SF
Price / SF$578.68
Days on Market50
Property Features for 246 West Broadway
General Information
- Standard status
- Active
- Size
- 13,650 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 2017
Listing agency
Jones Lang LaSalle
Listed by
John Flaherty
(617) 694-0004
Source
Somervillelofts
Added: Jun 2 Updated: Jul 20 at 8:10PM Checked: Jul 20 at 8:10PM
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 Jones Lang LaSalle
Investment Insights
Based on property information with market context.
This mixed-use building at 246 West Broadway was built in 2017 and features condo-quality finishes. The property is configured with 8 apartments and 1 retail suite, with the ground-floor retail currently fully leased. Public remarks indicate the building has maintained 100% occupancy since delivery.
The apartments are described as having large sizes averaging 1,450+ SF and contemporary design elements. The retail component is included as part of the fully leased ground-floor offering.
For investors or owner-users seeking a newer mixed-use asset, the current combination of residential units and a leased retail suite provides an established income stream within the same property structure.
The apartments are described as having large sizes averaging 1,450+ SF and contemporary design elements. The retail component is included as part of the fully leased ground-floor offering.
For investors or owner-users seeking a newer mixed-use asset, the current combination of residential units and a leased retail suite provides an established income stream within the same property structure.
Key Highlights
- Built in 2017 mixed‑use property with 8 apartments and 1 retail suite
- Condo‑quality finishes and contemporary design elements
- 100% occupancy maintained since delivery
Local Financial Insights For Mixed Use
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 | $573.3k | $42.00 |
| − Vacancy | −$40.1k | −$2.94 |
| EGI | $533.2k | $39.06 |
| − OpEx | −$199.9k | −$14.65 |
| NOI | $333.2k | $24.41 |
13,650 SF · lease $42.00/SF/yr · vacancy 7.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$4.76M
$4.17M – $5.55M
NOI $333,231 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$4.58M
$4.01M – $5.34M
NOI $320,666 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$10.22M
$8.94M – $11.92M
NOI $715,478 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
LULU GREEN
Restaurant
Ross Motor Parts ...
Auto Parts Store
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Built in 2017, this mixed-use property includes 8 apartments and a fully leased retail suite.
Where is this apartment building located?
The property is located at 246 West Broadway Boston, MA.
What is the asking price?
The asking price for this property is $7,899,000.
What are key features of this property?
This property features: Built in 2017 mixed‑use property with 8 apartments and 1 retail suite; Condo‑quality finishes and contemporary design elements; 100% occupancy maintained since delivery
