Renovated Corner Mixed-Use
New
For Sale
$5,200,000
374-374A Centre St, Boston, MA 02130
Corner property combines leased retail and office space with renovated four-bedroom apartments in Hyde Square.
Property Size9,153 SF
Price / SF$568.12
Days on Market4
Property Features for 374-374A Centre St
General Information
Standard status
Active
Size
9,153 SF
Net Rentable
9,153 SF
Property subtype
Investment
Occupancy
100%
Financials
Cap Rate
6.6%
Gross Income
$396,000
Site & Location
Corner Location
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 4BR/2BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$29,225
Building Details
Building Size
9,153 SF
Year Built
1900
Buildings
1
Stories
6
Units
7
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Mission Realty Advisors
(617) 942-1609
Source:
Elliman
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 13 at 6:39AM
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 Compass
Investment Insights
Based on property information with market context.
Located at 374-374A Centre St in Boston’s Hyde Square, this mixed-use property contains 9,153 square feet of rentable area within a building constructed in 1900. The configuration includes two street-level commercial spaces, one office, and four four-bedroom, two-bath residential apartments. Each apartment has been gut renovated, and all residential units are leased through September 1, 2027. The three commercial spaces are also currently leased.
The corner position at Centre Street and Sheridan Street places the property along a commercial corridor with access to neighborhood shops, restaurants, and amenities. Public transportation includes the Route 39 bus, the Orange Line at Jackson Square, and Green Line service near Heath St. The property is also near the Longwood Medical Area, Jamaica Pond, Whole Foods Market, the Arnold Arboretum, and Franklin Park. Walk Score is 92, Bike Score is 89, and Transit Score is 70. The reported cap rate is 6.6%.
The corner position at Centre Street and Sheridan Street places the property along a commercial corridor with access to neighborhood shops, restaurants, and amenities. Public transportation includes the Route 39 bus, the Orange Line at Jackson Square, and Green Line service near Heath St. The property is also near the Longwood Medical Area, Jamaica Pond, Whole Foods Market, the Arnold Arboretum, and Franklin Park. Walk Score is 92, Bike Score is 89, and Transit Score is 70. The reported cap rate is 6.6%.
Key Highlights
- 9,153 SF of rentable area at 374‑374A Centre St, Boston, MA 02130
- Two street‑level commercial spaces, one office, and four 4‑bedroom, 2‑bath apartments
- Residential units gut renovated and leased through September 1, 2027
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
$223,448
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
4.30%
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%
$4,468,960
$4.5M
Cap Rate 7%
$3,192,114
$3.2M
Cap Rate 9%
$2,482,756
$2.5M
Market Conditions
NOI Build-Up for 9,153 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
$384.4K $42.00/SF
− Vacancy
−$26.9K −$2.94/SF
EGI
$357.5K $39.06/SF
− OpEx
−$134.1K −$14.65/SF
NOI
$223.4K $24.41/SF
Area
Boston, MA
Vacancy
7.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
37.50%
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%
$4,468,960
Cap Rate 7%
$3,192,114
Cap Rate 9%
$2,482,756
Alternative Uses
Best Use
Mixed Use
$3.19M
$2.79M – $3.72M
NOI $223,448 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$3.07M
$2.69M – $3.58M
NOI $215,023 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$6.85M
$6.00M – $8.00M
NOI $479,764 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,821
Businesses Nearby
Explore this area
Business Placement
Demographics for 02130, MA
38,284
Population
18,802
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
94%
High-School Grad
3.5 sq mi
ZIP Area
10,938
Density / Sq Mi
$130,533
Median Household Income
$73,238
Median Earnings
$2,434
Median Rent
$763,700
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 - Corner property combines leased retail and office space with renovated four-bedroom apartments in Hyde Square.
Where is this mixed-use property located?
The property is located at 374-374A Centre St Boston, MA.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: 9,153 SF of rentable area at 374‑374A Centre St, Boston, MA 02130; Two street‑level commercial spaces, one office, and four 4‑bedroom, 2‑bath apartments; Residential units gut renovated and leased through September 1, 2027
