Listing Agency: Conviser Property Group Show Phone

Listed By: Jim Conviser Show Phone

Source: Moodyscre

Added: May 15 Changed: Oct 7 Last Checked: Oct 10 at 12:33PM

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Investment Insights

Based on property information with market context.

This commercial condominium, currently used as a restaurant, is available for sale. It is situated in Worcester Square in Boston’s historic South End, directly across from Boston Medical Center. The surrounding area features restaurants, cafes, and brownstone homes. The unit offers 1,200 square feet of space, with an additional 700 square feet in the basement. The property is in close proximity to MBTA and commuter rail lines. The condominium has a condo fee of $1,857.04 per month and annual taxes of $13,375.

Key Highlights

• Directly across the street from Boston Medical Center
• Located in Boston's Historic South End, Worcester Square
• 1,200 SF plus 700 SF Basement

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,972

Cap Rate

3.11%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$559,440 $559.4K

Cap Rate 7%

$399,600 $399.6K

Cap Rate 9%

$310,800 $310.8K

Market Conditions

NOI Build-Up for 1,200 SF

Gross rent

$40.3K $33.60/SF

− Vacancy

−$3.0K −$2.52/SF

EGI

$37.3K $31.08/SF

− OpEx

−$9.3K −$7.77/SF

NOI

$28.0K $23.31/SF

Area

ZIP 02118

Vacancy

7.50%

Lease Rate

$33.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$559,440

Cap Rate 7%

$399,600

Cap Rate 9%

$310,800

Alternative Uses

Best Use

Specialty Retail

$399.6K

$349.7K – $466.2K (±1% cap)

NOI $27,972 @ 7.0% cap · market cap 3.11%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$901.8K

$789.1K – $1.05M (±1% cap)

NOI $63,124 @ 7.0% cap · market cap 7.01%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Accounting Firm Kitchen & Bath Showroom Nail Salon Home Appliance Store Nursing Home Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

7,215

Businesses Nearby

88k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 48% Shops & Services 34% Apparel 12% Hotels & Casinos 4%

McDonald's Dining

29,944 visits/mo 0.4 miles

Goodwill Apparel

10,694 visits/mo 0.5 miles

Mobil Shops & Services

9,414 visits/mo 0.4 miles

Shell Shops & Services

8,707 visits/mo 0.5 miles

Sunoco Shops & Services

7,675 visits/mo 0.4 miles

Demographics for 02118, MA

29,073

Population

15,554

Households

1.9

Avg Household Size

36

Median Age

58%

College-Educated

87%

High-School Grad

1.1 sq mi

ZIP Area

26,430

Density / Sq Mi

$90,142

Median Household Income

$73,110

Median Earnings

$1,748

Median Rent

$1,029,100

Median Home Value

Market

Vacancy Rate% for Retail in Boston, MA

3.9% 2019

4.6% 2020

4.2% 2021

4% 2022

3.5% 2023

3.2% 2024

3.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Commercial condominium in Boston's South End, near Boston Medical Center.

Where is this conventional restaurant located?

The property is located at 39 Worcester Sq Boston, MA.

What is the asking price?

The asking price for this property is $900,000.

What are key features of this property?

This property features: Directly across the street from Boston Medical Center; Located in Boston's Historic South End, Worcester Square; 1,200 SF plus 700 SF Basement