Mixed-Use Brownstone in Kenmore
For Sale
$5,230,000
470 Commonwealth Ave, Boston, MA 02215
Mixed-use brownstone with diversified income in sought-after Kenmore Square.
Property Size9,096 SF
Price / SF$574.98
Days on Market183
Property Features for 470 Commonwealth Ave
General Information
Standard status
Active
Size
9,096 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Fenway
Building Details
Year Built
1899
Listing Agency:
Boston Realty Advisors
Listed By:
Nicholas Herz
(617) 375-7900
Source:
Billskerry
Added: Apr 25
Changed: Oct 3
Last Checked: Oct 7 at 4:36PM
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 Boston Realty Advisors
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Investment Insights
Based on property information with market context.
Located along Commonwealth Avenue in Kenmore Square, this mixed-use brownstone at 470 Commonwealth Ave presents a purchase opportunity. The property features six residential units, street-level retail, and first-floor commercial space, offering a diversified income stream. The residential units showcase architectural details from the 1930s. The commercial component benefits from visibility and foot traffic. Four private off-street parking spaces enhance the property. Colloquially known as 470 Comm Ave, it offers long-term appreciation potential.
Key Highlights
- Diversified income stream from six residential units, street‑level retail, and first‑floor commercial space.
- Prime location on Commonwealth Avenue in Kenmore Square.
- Four private off‑street parking spaces.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$231,009
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,620,180
$4.6M
Cap Rate 7%
$3,300,129
$3.3M
Cap Rate 9%
$2,566,767
$2.6M
Market Conditions
NOI Build-Up for 9,096 SF
Gross rent
$436.6K $48.00/SF
− Vacancy
−$16.6K −$1.82/SF
EGI
$420.0K $46.18/SF
− OpEx
−$189.0K −$20.78/SF
NOI
$231.0K $25.40/SF
Area
ZIP 02215
Vacancy
3.80%
Lease Rate
$48.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,620,180
Cap Rate 7%
$3,300,129
Cap Rate 9%
$2,566,767
Alternative Uses
Best Use
Apartment 5plus
$3.30M
$2.89M – $3.85M
NOI $231,009 @ 7.0% cap · market cap 4.42%
Second Best
Mixed Use
$2.90M
$2.54M – $3.38M
NOI $203,023 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$7.86M
$6.88M – $9.17M
NOI $550,126 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
4,981
Businesses Nearby
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Business Placement
Demographics for 02215, MA
26,926
Population
9,390
Households
2.9
Avg Household Size
26
Median Age
85%
College-Educated
97%
High-School Grad
0.9 sq mi
ZIP Area
29,918
Density / Sq Mi
$65,827
Median Household Income
$12,149
Median Earnings
$2,385
Median Rent
$683,800
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 - Mixed-use brownstone with diversified income in sought-after Kenmore Square.
Where is this mixed-use property located?
The property is located at 470 Commonwealth Ave Boston, MA.
What is the asking price?
The asking price for this property is $5,230,000.
What are key features of this property?
This property features: Diversified income stream from six residential units, street‑level retail, and first‑floor commercial space.; Prime location on Commonwealth Avenue in Kenmore Square.; Four private off‑street parking spaces.
