251 Shawmut Unit Commercial, Boston, MA 02118

Building Details

Building Size 5,738 SF More

Year Built 2013 More

Listing Agency: District Real Estate Advisors LLC Show Phone

Listed By: Tim Bulman · License #9539741 Show Phone

Source: Iverty

Added: Oct 22 Changed: Nov 7 Last Checked: Nov 7 at 5:07AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This corner retail condominium spans two levels and contains approximately 1,415 square feet. It is part of a mixed-use building, with the retail space positioned along a brick-paved pedestrian corridor. The building was constructed in 2013.

The property is near Union Park and Boston’s SOWA arts district. I-90 and I-93 provide highway access, while Back Bay Station and Massachusetts Avenue Station are nearby. Area businesses include grocery stores, restaurants, coffee shops, and personal service providers.

Key Highlights

• Approximately 1,415 square feet across two levels
• Corner retail condominium in a mixed‑use building
• Fronts a brick‑paved pedestrian corridor

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$110,256

Cap Rate

7.35%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,205,120 $2.2M

Cap Rate 7%

$1,575,086 $1.6M

Cap Rate 9%

$1,225,067 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,738 SF

Gross rent

$172.1K $30.00/SF

− Vacancy

−$14.6K −$2.55/SF

EGI

$157.5K $27.45/SF

− OpEx

−$47.3K −$8.24/SF

NOI

$110.3K $19.22/SF

Area

ZIP 02118

Vacancy

8.50%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,205,120

Cap Rate 7%

$1,575,086

Cap Rate 9%

$1,225,067

Alternative Uses

Best Use

Retail

$1.58M

$1.38M – $1.84M (±1% cap)

NOI $110,256 @ 7.0% cap · market cap 7.35%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.31M

$3.77M – $5.03M (±1% cap)

NOI $301,837 @ 7.0% cap · market cap 20.12%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Retail space

Suggested Use

Top Pick Pet Grooming Service Tanning Salon Butcher Nursing Home Buffet Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

18,128

Businesses Nearby

142k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Groceries 31% Hotels & Casinos 29% Dining 23% Home Improvements & Furnishings 11%

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 0.2 miles

DoubleTree by Hilton Hotel Boston - Downtown Hotels & Casinos

15,586 visits/mo 0.2 miles

RH (Restoration Hardware) Home Improvements & Furnishings

13,933 visits/mo 0.3 miles

Demographics for 02118, MA

29,073

Population

15,554

Households

1.9

Avg Household Size

36

Median Age

58%

College-Educated

87%

High-School Grad

1.1 sq mi

ZIP Area

26,430

Density / Sq Mi

$90,142

Median Household Income

$73,110

Median Earnings

$1,748

Median Rent

$1,029,100

Median Home Value

Market

Average Price Trend$/SF for Retail space in Boston, MA

$607 Jul

$508 Aug

$388 Sep

$367 Oct

Properties on Market for Retail space in Boston

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Boston, MA

3.9% 2019

4.6% 2020

4.2% 2021

4% 2022

3.5% 2023

3.2% 2024

3.8% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - Two-level space sits within a mixed-use building on a brick-paved pedestrian corridor.

Where is this retail space located?

The property is located at 251 Shawmut Unit Commercial Boston, MA.

What is the asking price?

The asking price for this property is $1,500,000.

What are key features of this property?

This property features: Approximately 1,415 square feet across two levels; Corner retail condominium in a mixed‑use building; Fronts a brick‑paved pedestrian corridor