Renovated Mixed-Use
For Sale
$5,200,000
374-374a Centre Street, Boston, MA 02130
Corner asset combines leased commercial and office space with four renovated residential apartments.
Property Size9,153 SF
Price / SF$568.12
Days on Market96
Property Features for 374-374a Centre Street
General Information
Standard status
Active
Size
9,153 SF
Net Rentable
9,153 SF
Property subtype
Multi-family
Occupancy
100%
Financials
Cap Rate
6.6%
Gross Income
$396,000
Site & Location
Neighborhood
Jamaica Plain
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 4BR/2BA
Multifamily Units
4
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Mission Realty Advisors
(203) 893-8316
Source:
Rosenrealty
Added: Jul 26
Changed: Oct 28
Last Checked: Oct 28 at 9:13AM
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
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Investment Insights
Based on property information with market context.
Located at 374-374a Centre Street in Boston’s Hyde Square, this 9,153-square-foot mixed-use property includes two street-level commercial spaces, one office, and four four-bedroom, two-bath apartments. The residential units have undergone gut renovations, and all are leased through September 1, 2027; the three commercial spaces are also leased. The property was built in 1900 and occupies a prominent corner at Centre Street and Sheridan Street.
The site provides access to the Route 39 bus, Jackson Square’s Orange Line station, and Green Line service near Heath St. Longwood Medical Area, Jamaica Pond, Whole Foods Market, the Arnold Arboretum, Franklin Park, and Centre Street’s restaurants and shops are nearby. The property produces a 6.6% cap rate and may be acquired independently or with neighboring 370 Centre Street.
The site provides access to the Route 39 bus, Jackson Square’s Orange Line station, and Green Line service near Heath St. Longwood Medical Area, Jamaica Pond, Whole Foods Market, the Arnold Arboretum, Franklin Park, and Centre Street’s restaurants and shops are nearby. The property produces a 6.6% cap rate and may be acquired independently or with neighboring 370 Centre Street.
Key Highlights
- 9,153 square feet of mixed‑use space at 374‑374a Centre Street
- Two street‑level commercial spaces, one office, and four residential apartments
- Four 4‑bedroom, 2‑bath apartments have been gut renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$223,448
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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
1,768
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner asset combines leased commercial and office space with four renovated residential apartments.
Where is this mixed-use property located?
The property is located at 374-374a Centre Street 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 square feet of mixed‑use space at 374‑374a Centre Street; Two street‑level commercial spaces, one office, and four residential apartments; Four 4‑bedroom, 2‑bath apartments have been gut renovated
