South Station Live/Work
For Sale
$775,000
717 Atlantic Avenue Unit 1-B, Boston, MA 02111
770 SF commercial live/work condo in Boston's South Station.
Property Size770 SF
Price / SF$1,006
Days on Market277
Property Features for 717 Atlantic Avenue Unit 1-B
General Information
Standard status
Active
Size
770 SF
Property subtype
Commercial
Building Details
Year Built
1899
Listing Agency:
Douglas Elliman Real Estate - The Sarkis Team
Listed By:
The Sarkis Team · License #1999023818
(404) 668-6621
Source:
Stevebremis
Added: Dec 2, 2025
Changed: Sep 4
Last Checked: Sep 4 at 10:21AM
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 Douglas Elliman Real Estate - The Sarkis Team
Investment Insights
Based on property information with market context.
This is a 770 square foot commercial live/work condominium located in Boston's South Station area. The unit is part of an eight-story residential building with 30 units. The property is situated directly across from South Station and a luxury residential development. It is suitable for residential live/work, creative studio or arts loft, retail, professional office, or other commercial uses.
Key Highlights
- Prime location directly across from South Station.
- Versatile live/work condominium suitable for various commercial uses.
- Located in Boston's desirable South Station area.
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
20,263
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - 770 SF commercial live/work condo in Boston's South Station.
Where is this live-work space located?
The property is located at 717 Atlantic Avenue Unit 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: Prime location directly across from South Station.; Versatile live/work condominium suitable for various commercial uses.; Located in Boston's desirable South Station area.
