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    Mixed-Use Brownstone with Buildable Lot Title is generated by Realmo AI

    610-612 Shawmut, Boston, MA 02118

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    Claim this Listing
    For Sale
    $1,800,000

    Mixed-use brownstone with development potential in opportunity zone.

    Type:Commercial/Industrial
    Property size:
    5,865 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $306/SF
    Added:
    Oct 7, 2024
    Days on Market:
    639
    Last Refresh:
    Jul 4 at 10:40 pm

    Property Features for 610-612 Shawmut

    General Information

    Standard status
    Active
    Size
    5,865 SF
    Lot size
    0.11 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1920

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    Albert Bouchie
    Albert Bouchie

    Listing office Gibson Sotheby's International Realty

    Listing date Oct 7, 2024

    Source Exitrealty

    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 Gibson Sotheby's International Realty

    HighLights

    • Multi‑unit development opportunity with adjacent buildable lot
    • Delivered vacant, allowing immediate development or rental
    • Located in an Opportunity Zone, offering potential tax benefits
    • Four‑unit mixed‑use brick brownstone
    • Close proximity to Boston Medical Center and several major universities
    • Abuts a beautiful public park

    Overview

    This property presents an opportunity for multi-unit development, featuring a four-unit mixed-use brick brownstone with an adjacent buildable lot. The property, to be delivered vacant, is situated on a one-way street in a quiet neighborhood near Boston Medical Center. It abuts a public park and is located between Massachusetts Avenue and Melina Cass Boulevard, with proximity to several major universities. The mixed-use structure includes commercial space at street level and three-bedroom apartments above. The property is located in an Opportunity Zone, making it suitable for development. The property is offered on an "as is" basis, and all due diligence is the responsibility of the buyer. The property size is 5865 square feet.

    Local Financial Insights For Mixed Use

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $211.1k $36.00
    − Vacancy −$19.0k −$3.24
    EGI $192.1k $32.76
    − OpEx −$72.1k −$12.29
    NOI $120.1k $20.47
    5,865 SF · lease $36.00/SF/yr · vacancy 9.00% · expense 37.50%

    Alternative Uses

    Best Use
    Mixed Use
    $1.72M
    $1.50M – $2.00M (±1% cap)
    NOI $120,086 @ 7.0% cap · market cap 6.67%
    Second Best
    Retail
    $1.61M
    $1.41M – $1.88M (±1% cap)
    NOI $112,696 @ 7.0% cap · market cap 6.26%
    Theoretical Best
    Office A
    $4.41M
    $3.86M – $5.14M (±1% cap)
    NOI $308,518 @ 7.0% cap · market cap 17.14%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Nursing Home Clothing & Fashion Store Pet Grooming Service Nursing Home Butcher Tanning Salon Buffet Clothing & Fashion Store Adult Day Care Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Boston
    County
    Suffolk
    State
    Massachusetts
    Longitude
    -71.08033
    Latitude
    42.33555

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use brownstone with development potential in opportunity zone.
    Where is this mixed-use property located?
    The property is located at 610-612 Shawmut Boston, MA.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: Multi‑unit development opportunity with adjacent buildable lot; Delivered vacant, allowing immediate development or rental; Located in an Opportunity Zone, offering potential tax benefits
    More about this property
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