Corner Office/Retail Condo in
For Sale
$300,000
333 Washington Street Unit 607, Boston, MA 02108
Corner office/retail condo in historic Jewelers Exchange Building.
Property Size793 SF
Price / SF$378.31
Days on Market518
Property Features for 333 Washington Street Unit 607
General Information
Standard status
Active
Size
793 SF
Property subtype
Commercial
Building Details
Year Built
1922
Listing Agency:
Gibson Sotheby's International Realty
(781) 710-4544
Listed By:
Anthony Bruno · License #9062809
Source:
Stevebremis
Added: Mar 23, 2025
Changed: Aug 22
Last Checked: Aug 22 at 9:49AM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
This rarely available corner office/retail condominium is located in the historic Jewelers Exchange Building. The 793 square-foot unit features views of the Old South Meeting House and the Financial District from six oversized windows. The current layout includes a double-door secure entry with a retail/showcase room and four private office/work spaces. The floor plan can be used as-is or modified to suit specific needs. The property benefits from its prime location with accessibility to the MBTA Red, Green, Orange, Blue, and Silver lines, as well as easy freeway access. Pedestrian access is facilitated by Boston Common and Washington Street in Midtown. The building is professionally managed and has on-site staffed security.
Key Highlights
- Prime Midtown location with easy access to multiple MBTA lines.
- Corner unit in the historic Jewelers Exchange Building with gorgeous views.
- Flexible floor plan suitable for office or retail use, ready to use as‑is or customizable.
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
$23,381
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
7.79%
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%
$467,620
$467.6K
Cap Rate 7%
$334,014
$334.0K
Cap Rate 9%
$259,789
$259.8K
Market Conditions
NOI Build-Up for 793 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
$40.0K $50.40/SF
− Vacancy
−$8.8K −$11.09/SF
EGI
$31.2K $39.31/SF
− OpEx
−$7.8K −$9.83/SF
NOI
$23.4K $29.48/SF
Area
Boston, MA
Vacancy
22.00%
Lease Rate
$50.40 /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%
$467,620
Cap Rate 7%
$334,014
Cap Rate 9%
$259,789
Alternative Uses
Best Use
Office B
$334.0K
$292.3K – $389.7K
NOI $23,381 @ 7.0% cap · market cap 7.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$593.8K
$519.6K – $692.8K
NOI $41,566 @ 7.0% cap · market cap 13.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
Business Placement
Demographics for 02108, MA
4,228
Population
2,473
Households
1.7
Avg Household Size
38
Median Age
77%
College-Educated
100%
High-School Grad
0.3 sq mi
ZIP Area
14,093
Density / Sq Mi
$212,664
Median Household Income
$95,688
Median Earnings
$2,692
Median Rent
$1,570,400
Median Home Value
Market
Vacancy Rate% for Office in Boston, MA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Corner office/retail condo in historic Jewelers Exchange Building.
Where is this office units located?
The property is located at 333 Washington Street Unit 607 Boston, MA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Prime Midtown location with easy access to multiple MBTA lines.; Corner unit in the historic Jewelers Exchange Building with gorgeous views.; Flexible floor plan suitable for office or retail use, ready to use as‑is or customizable.
