11-Unit Mixed-Use
For Sale
$8,000,000
45 Broad Street, Boston, MA 02109
Redeveloped asset combines apartments with street-level restaurant spaces and distinctive historic architectural features.
Property Size13,139 SF
Price / SF$608.87
Days on Market92
Property Features for 45 Broad Street
General Information
Standard status
Active
Size
13,139 SF
Property subtype
Multi-family
Lease Term
[]
Site & Location
Neighborhood
Downtown
Units
Unit Mix
9 x 1BR
Multifamily Units
9
Amenities
central air conditioning
in-unit laundry
Building Details
Year Built
2016
Year Renovated
2016
Buildings
2
Listing Agency:
Olde Forge Realty
Listed By:
Eliott Levine · License #9507286
(401) 663-8049
Source:
Oldeforgerealty
Added: Jul 30
Changed: Oct 28
Last Checked: Oct 28 at 8:36AM
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 Olde Forge Realty
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Investment Insights
Based on property information with market context.
This 13,139-square-foot mixed-use property combines nine one-bedroom apartments with two street-level restaurant spaces across 45 Broad Street and 119 Water Street. The buildings were restored and combined in 2016, preserving high ceilings, oversized windows, exposed structural elements, and substantial timber joists. Residential units include central air conditioning and in-unit laundry, while the commercial spaces add diversification to the property’s use profile.
Located in Downtown Boston, the property is just blocks from Boston Harbor, the Rose Kennedy Greenway, and the Financial District. Zoning is RC. The asset was originally associated with large-scale printing operations and now presents a combination of residential and restaurant uses within a distinctive architectural setting.
Located in Downtown Boston, the property is just blocks from Boston Harbor, the Rose Kennedy Greenway, and the Financial District. Zoning is RC. The asset was originally associated with large-scale printing operations and now presents a combination of residential and restaurant uses within a distinctive architectural setting.
Key Highlights
- 11‑unit mixed‑use property with 9 one‑bedroom apartments and 2 street‑level restaurant spaces
- 13,139 square feet across 45 Broad Street and 119 Water Street
- Buildings restored and combined in 2016
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$320,756
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,415,120
$6.4M
Cap Rate 7%
$4,582,229
$4.6M
Cap Rate 9%
$3,563,956
$3.6M
Market Conditions
NOI Build-Up for 13,139 SF
Gross rent
$551.8K $42.00/SF
− Vacancy
−$38.6K −$2.94/SF
EGI
$513.2K $39.06/SF
− OpEx
−$192.5K −$14.65/SF
NOI
$320.8K $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%
$6,415,120
Cap Rate 7%
$4,582,229
Cap Rate 9%
$3,563,956
Alternative Uses
Best Use
Mixed Use
$4.58M
$4.01M – $5.35M
NOI $320,756 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$4.41M
$3.86M – $5.14M
NOI $308,662 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$9.84M
$8.61M – $11.48M
NOI $688,694 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
24,086
Businesses Nearby
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Business Placement
Demographics for 02109, MA
3,921
Population
2,719
Households
1.4
Avg Household Size
36
Median Age
88%
College-Educated
97%
High-School Grad
0.2 sq mi
ZIP Area
19,605
Density / Sq Mi
$177,500
Median Household Income
$100,889
Median Earnings
$3,501
Median Rent
$1,007,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Redeveloped asset combines apartments with street-level restaurant spaces and distinctive historic architectural features.
Where is this mixed-use property located?
The property is located at 45 Broad Street Boston, MA.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: 11‑unit mixed‑use property with 9 one‑bedroom apartments and 2 street‑level restaurant spaces; 13,139 square feet across 45 Broad Street and 119 Water Street; Buildings restored and combined in 2016
