Ground-Floor Retail Condo
For Sale
$650,000
370 Broadway, Cambridge, MA 02139
Two contiguous ground-floor retail condo units offer high ceilings and expansive storefront windows.
Property Size2,264 SF
Price / SF$287.10
Days on Market180
Property Features for 370 Broadway
General Information
Standard status
Active
Size
2,264 SF
Property subtype
Commercial
Zoning
BA-1
Taxes and HOA fees
Annual Taxes
$999,999
Building Details
Building Size
2,264 SF
Year Built
1900
Listing Agency:
LPT Realty - Home & Key Group
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Mar 9
Changed: Sep 3
Last Checked: Sep 4 at 2:55AM
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 LPT Realty - Home & Key Group
Investment Insights
Based on property information with market context.
This retail condo property includes two ground-floor units that can be purchased individually or together. Both feature high ceilings and expansive storefront windows, supporting a bright, open interior. The units are configured for flexible commercial use, with an efficient layout that can suit a range of storefront concepts, including traditional retail, boutique services, professional office, or wellness use.
The property offers prominent frontage on an active commercial corridor, positioned for both pedestrian and vehicular traffic.
The individual units include one at 1,080 square feet and the other at 1,184 square feet, and the combined, contiguous two-unit portfolio totals 2,264 square feet.
The property offers prominent frontage on an active commercial corridor, positioned for both pedestrian and vehicular traffic.
The individual units include one at 1,080 square feet and the other at 1,184 square feet, and the combined, contiguous two-unit portfolio totals 2,264 square feet.
Key Highlights
- Two contiguous ground‑floor retail condo units in an active commercial corridor
- One unit is 1,080 SF and the other is 1,184 SF, for a combined 2,264 SF portfolio
- Can be purchased individually for $650,000 per unit or together for $1.3 million
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
$44,454
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
6.84%
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%
$889,080
$889.1K
Cap Rate 7%
$635,057
$635.1K
Cap Rate 9%
$493,933
$493.9K
Market Conditions
NOI Build-Up for 2,264 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
$67.9K $30.00/SF
− Vacancy
−$4.4K −$1.95/SF
EGI
$63.5K $28.05/SF
− OpEx
−$19.1K −$8.42/SF
NOI
$44.5K $19.63/SF
Area
Cambridge, MA
Vacancy
6.50%
Lease Rate
$30.00 /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%
$889,080
Cap Rate 7%
$635,057
Cap Rate 9%
$493,933
Alternative Uses
Best Use
Retail
$635.1K
$555.7K – $740.9K
NOI $44,454 @ 7.0% cap · market cap 6.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,180 @ 7.0% cap · market cap 18.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,284
Businesses Nearby
74k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 43%
Shops & Services 32%
Dining 23%
Home Improvements & Furnishings 1%
Whole Foods Market
Groceries
18,016 visits/mo
0.4 miles
McDonald's
Dining
16,617 visits/mo
0.5 miles
Whole Foods Market
Groceries
14,071 visits/mo
0.2 miles
7-Eleven
Shops & Services
14,048 visits/mo
0.3 miles
Shell
Shops & Services
4,763 visits/mo
0.3 miles
Demographics for 02139, MA
39,525
Population
16,930
Households
2.3
Avg Household Size
30
Median Age
78%
College-Educated
94%
High-School Grad
1.6 sq mi
ZIP Area
24,703
Density / Sq Mi
$124,648
Median Household Income
$61,025
Median Earnings
$2,613
Median Rent
$1,066,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Two contiguous ground-floor retail condo units offer high ceilings and expansive storefront windows.
Where is this retail space located?
The property is located at 370 Broadway Cambridge, MA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two contiguous ground‑floor retail condo units in an active commercial corridor; One unit is 1,080 SF and the other is 1,184 SF, for a combined 2,264 SF portfolio; Can be purchased individually for $650,000 per unit or together for $1.3 million
