Three-Story Multi-Unit Retail
For Sale
Contact for pricing
384 Warren Street, Boston, MA 02119
Purchase a 100% leased three-unit building with pro rata tax, insurance, and CAM reimbursements in Boston’s Roxbury area.
Property Size30,500 SF
Lot Size0.38 Acres
Price / SF$252.46
Days on Market128
Property Features for 384 Warren Street
General Information
Standard status
Active
Size
30,500 SF
Lot size
0.38 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Value Add
Net Operating Income
$608,575
Additional Details
Highway Access
Yes
Building Details
Year Built
1920
Buildings
1
Stories
3
Units
3
Tenancy
Multi
Listing Agency:
Horvath & Tremblay
Listed By:
Nick Bevilacqua · License #9573250-RE-S
(617) 202-4029
Source:
Crexi
Added: Jun 11
Changed: Oct 10
Last Checked: Oct 16 at 8:18AM
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 Horvath & Tremblay
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Investment Insights
Based on property information with market context.
The property at 384 Warren Street is a well-maintained three-story commercial building comprising a total of three (3) units within approximately 30,500 square feet on a 0.38-acre parcel. The asset is fully leased to a complimentary mix of tenants, including Dollar Country, Boston Public Schools, and Higher Ground. Under the existing operating structure, each tenant reimburses its pro rata share of real estate taxes, insurance, and common area maintenance, and two of the three tenants have scheduled rental increases in their primary lease terms and renewal options.
Located in Boston’s Roxbury neighborhood, the building offers convenient access to Brookline, Back Bay, South Boston, Downtown Boston, Northeastern University, and UMass Boston. Transit is available via several nearby MBTA stations, including Orange Line Jackson Square Station and Uphams Corner MBTA Station, with additional lines referenced as approximately one mile away, including Franklin/Foxboro and Providence Stoughton lines.
For investors and owners seeking a stable, occupied retail-oriented asset, this property offers immediate income with 100% leasing and defined tenant reimbursement responsibilities. The presence of scheduled rental increases on two tenants further supports long-term lease continuity. The building’s multi-unit configuration can also appeal to operators looking for straightforward tenancy within a single address.
Located in Boston’s Roxbury neighborhood, the building offers convenient access to Brookline, Back Bay, South Boston, Downtown Boston, Northeastern University, and UMass Boston. Transit is available via several nearby MBTA stations, including Orange Line Jackson Square Station and Uphams Corner MBTA Station, with additional lines referenced as approximately one mile away, including Franklin/Foxboro and Providence Stoughton lines.
For investors and owners seeking a stable, occupied retail-oriented asset, this property offers immediate income with 100% leasing and defined tenant reimbursement responsibilities. The presence of scheduled rental increases on two tenants further supports long-term lease continuity. The building’s multi-unit configuration can also appeal to operators looking for straightforward tenancy within a single address.
Key Highlights
- Three‑story commercial building in Boston with 3 total units and 30,500 SF total building area
- Property sits on a 0.38‑acre parcel and is 100% leased
- Tenant mix includes Dollar Country, Boston Public Schools, and Higher Ground
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$492,288
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,845,760
$9.8M
Cap Rate 7%
$7,032,686
$7.0M
Cap Rate 9%
$5,469,867
$5.5M
Market Conditions
NOI Build-Up for 30,500 SF
Gross rent
$768.6K $25.20/SF
− Vacancy
−$65.3K −$2.14/SF
EGI
$703.3K $23.06/SF
− OpEx
−$211.0K −$6.92/SF
NOI
$492.3K $16.14/SF
Area
Boston, MA
Vacancy
8.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,845,760
Cap Rate 7%
$7,032,686
Cap Rate 9%
$5,469,867
Alternative Uses
Best Use
Retail
$7.03M
$6.15M – $8.20M
NOI $492,288 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$22.84M
$19.98M – $26.64M
NOI $1,598,688 @ 7.0% cap · market cap 20.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,444
Businesses Nearby
70k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Shops & Services 43%
McDonald's
Dining
39,955 visits/mo
0.2 miles
Shell
Shops & Services
15,214 visits/mo
0.2 miles
AutoZone
Shops & Services
13,395 visits/mo
0.2 miles
XFINITY Store by Comcast
Shops & Services
1,696 visits/mo
0.2 miles
Demographics for 02119, MA
29,175
Population
12,937
Households
2.3
Avg Household Size
34
Median Age
30%
College-Educated
81%
High-School Grad
1.6 sq mi
ZIP Area
18,234
Density / Sq Mi
$43,255
Median Household Income
$38,664
Median Earnings
$1,252
Median Rent
$668,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Boston, MA
Similar Off Market Nearby
- Dahlia's Garden — 722 Dudley St, Dorchester, MA 02125
- Fitts Flowers — 12 Catawba St, Boston, MA 02119
- LovelyLee's Arrangements Inc — P. I. Box 191120, Roxbury, MA 02119
- Giselle's Flowers and Gifts — 492 Dudley St, Boston, MA 02119
- Flores — 18 Burrell St, Boston, MA 02119
Frequently Asked Questions
What type of property is this?
Storefront property - Purchase a 100% leased three-unit building with pro rata tax, insurance, and CAM reimbursements in Boston’s Roxbury area.
Where is this storefront property located?
The property is located at 384 Warren Street Boston, MA.
What is the asking price?
The asking price for this property is $7,700,000.
What are key features of this property?
This property features: Three‑story commercial building in Boston with 3 total units and 30,500 SF total building area; Property sits on a 0.38‑acre parcel and is 100% leased; Tenant mix includes Dollar Country, Boston Public Schools, and Higher Ground
