Mixed-Use Property with
For Sale
$2,449,000
293 Cypress St, Brookline, MA 02445
Two furnished residential units are positioned above a leased restaurant with dedicated basement storage.
Property Size4,404 SF
Price / SF$556.09
Days on Market115
Property Features for 293 Cypress St
General Information
Standard status
Active
Size
4,404 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
M10
Net Operating Income
$87,561
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$19,211
Amenities
washer/dryer
outdoor porch
dedicated storage
Building Details
Building Size
4,404 SF
Year Built
1910
Stories
3
Listing Agency:
Coelho Realty Group LLC
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 8
Changed: Aug 29
Last Checked: Aug 29 at 1:18PM
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 Coelho Realty Group LLC
Investment Insights
Based on property information with market context.
Built in 1910, this mixed-use property combines a first-floor family dining restaurant with two residential units above. Each residence measures 1,513 square feet and is furnished with hardwood floors, a washer and dryer, and an outdoor porch. Dedicated basement storage serves the property, while paved parking accommodates 3 vehicles. The property is zoned M10 and totals 4,404 square feet.
The restaurant space is subject to a lease with a strong payment history. The property is located across from the remodeled Robinson Playground, with MBTA access and proximity to the Boston medical area. Its residential and restaurant components provide distinct spaces within one integrated property.
The restaurant space is subject to a lease with a strong payment history. The property is located across from the remodeled Robinson Playground, with MBTA access and proximity to the Boston medical area. Its residential and restaurant components provide distinct spaces within one integrated property.
Key Highlights
- Two 1,513‑square‑foot residential units over a first‑floor restaurant
- Restaurant space has a lease and strong payment history
- Residential units include furnishings, hardwood floors, washer and dryer, and outdoor porch
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
$93,190
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
3.81%
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%
$1,863,800
$1.9M
Cap Rate 7%
$1,331,286
$1.3M
Cap Rate 9%
$1,035,444
$1.0M
Market Conditions
NOI Build-Up for 4,404 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
$140.0K $31.80/SF
− Vacancy
−$6.9K −$1.57/SF
EGI
$133.1K $30.23/SF
− OpEx
−$39.9K −$9.07/SF
NOI
$93.2K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$1,863,800
Cap Rate 7%
$1,331,286
Cap Rate 9%
$1,035,444
Alternative Uses
Best Use
Multifamily LT 5
$1.33M
$1.16M – $1.55M
NOI $93,190 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,625 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$2.61M
$2.28M – $3.04M
NOI $182,501 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,193
Businesses Nearby
Explore this area
Business Placement
Demographics for 02445, MA
22,499
Population
10,016
Households
2.2
Avg Household Size
36
Median Age
86%
College-Educated
98%
High-School Grad
2.6 sq mi
ZIP Area
8,653
Density / Sq Mi
$145,878
Median Household Income
$76,514
Median Earnings
$2,779
Median Rent
$1,218,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two furnished residential units are positioned above a leased restaurant with dedicated basement storage.
Where is this mixed-use property located?
The property is located at 293 Cypress St Brookline, MA.
What is the asking price?
The asking price for this property is $2,449,000.
What are key features of this property?
This property features: Two 1,513‑square‑foot residential units over a first‑floor restaurant; Restaurant space has a lease and strong payment history; Residential units include furnishings, hardwood floors, washer and dryer, and outdoor porch
