South Station Live/Work
For Sale
$775,000
717 Atlantic Ave. 1-B, Boston, MA 02111
770 SF commercial condo in Boston's South Station area.
Property Size770 SF
Price / SF$1,006
Days on Market122
Property Features for 717 Atlantic Ave. 1-B
General Information
Standard status
Active
Size
770 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,623
Building Details
Year Built
1899
Listing Agency:
Keller Williams Realty - Albuquerque
(617) 875-4950
Listed By:
The Sarkis Team · License #47250
(617) 875-4950
Source:
Elliman
Added: Apr 24
Changed: Aug 22
Last Checked: Aug 23 at 8:22AM
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 Keller Williams Realty - Albuquerque
Investment Insights
Based on property information with market context.
This property is a 770 square foot commercial live/work condominium located in Boston’s South Station area. It is situated within an eight story, 30-unit residential building. The location is directly across from South Station and the new Ritz-Carlton luxury residential development, which features 166 luxury units. The unit is suitable for a variety of uses, including residential live/work, creative studio or arts loft, retail, professional office, psychiatrist or therapist office, or other commercial uses. The property has a bike score of 77, indicating it is very bikeable. The walk score is 99, designating it as a walker's paradise, and the transit score is 100, identifying it as a rider's paradise.
Key Highlights
- Unbeatable Transit Access: A "Rider's Paradise" with a perfect score of 100, directly across from South Station.
- Prime Location: Situated in Boston's desirable South Station area, across from the Ritz‑Carlton.
- High Walkability: A "Walker's Paradise" boasting a score of 99, offering convenient access to amenities.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,703
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$454,060
$454.1K
Cap Rate 7%
$324,329
$324.3K
Cap Rate 9%
$252,256
$252.3K
Market Conditions
NOI Build-Up for 770 SF
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.
Gross rent
$38.8K $50.40/SF
− Vacancy
−$8.5K −$11.09/SF
EGI
$30.3K $39.31/SF
− OpEx
−$7.6K −$9.83/SF
NOI
$22.7K $29.48/SF
Area
Boston, MA
Vacancy
22.00%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$454,060
Cap Rate 7%
$324,329
Cap Rate 9%
$252,256
Alternative Uses
Best Use
Office B
$324.3K
$283.8K – $378.4K
NOI $22,703 @ 7.0% cap · market cap 2.93%
Second Best
Mixed Use
$268.5K
$235.0K – $313.3K
NOI $18,798 @ 7.0% cap · market cap 2.43%
Theoretical Best
Office A
$576.6K
$504.5K – $672.7K
NOI $40,360 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
21,628
Businesses Nearby
Explore this area
Business Placement
Demographics for 02111, MA
9,716
Population
4,535
Households
2.1
Avg Household Size
34
Median Age
57%
College-Educated
83%
High-School Grad
0.2 sq mi
ZIP Area
48,580
Density / Sq Mi
$70,865
Median Household Income
$42,225
Median Earnings
$1,994
Median Rent
$953,400
Median Home Value
Market
Vacancy Rate% for Office in Boston, MA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - 770 SF commercial condo in Boston's South Station area.
Where is this live-work space located?
The property is located at 717 Atlantic Ave. 1-B Boston, MA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Unbeatable Transit Access: A "Rider's Paradise" with a perfect score of 100, directly across from South Station.; Prime Location: Situated in Boston's desirable South Station area, across from the Ritz‑Carlton.; High Walkability: A "Walker's Paradise" boasting a score of 99, offering convenient access to amenities.
