Mixed-Use Building With Four
For Sale
$3,000,000
717 Centre St, Boston, MA 02130
Vacant property combines updated residential units with first-floor tavern and restaurant space.
Property Size5,412 SF
Days on Market55
Property Features for 717 Centre St
General Information
Standard status
Active
Size
5,412 SF
Property subtype
Investment
Additional Details
Floor
1
Public Transit
Yes
Liquor License
No
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$30,600
Amenities
hardwood floors
custom kitchens
quartz counters
GE stainless appliances
in unit laundry
custom tile baths
Building Details
Building Size
5,412 SF
Year Built
2023
Buildings
1
Stories
4
Units
4
Listing Agency:
Gibson Sotheby's International Realty
Listed By:
Michael Moran
(617) 733-7660
Source:
Elliman
Added: Aug 12
Changed: Sep 26
Last Checked: Oct 4 at 11:21AM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
Located at 717 Centre St in Boston, this mixed-use building includes four residential rental units above first-level commercial space currently configured for tavern and restaurant use. The property is delivered vacant, and liquor and entertainment licenses are excluded from the sale.
The residential component includes large living rooms, hardwood flooring, custom kitchens with white cabinetry, quartz countertops, GE stainless appliances, in-unit laundry, custom-tile bathrooms, and generously sized bedrooms with closet space. Each unit has separate heating, cooling, and hot-water systems. A multi-floor residential addition was constructed in 2021, while the building also includes three stories and a basement.
The property has a Walk Score of 88, a Transit Score of 81, and a Bike Score of 98, supporting convenient access by multiple transportation modes.
The residential component includes large living rooms, hardwood flooring, custom kitchens with white cabinetry, quartz countertops, GE stainless appliances, in-unit laundry, custom-tile bathrooms, and generously sized bedrooms with closet space. Each unit has separate heating, cooling, and hot-water systems. A multi-floor residential addition was constructed in 2021, while the building also includes three stories and a basement.
The property has a Walk Score of 88, a Transit Score of 81, and a Bike Score of 98, supporting convenient access by multiple transportation modes.
Key Highlights
- Four residential rental units plus first‑level tavern and restaurant space
- Residential addition constructed in 2021
- Large living rooms, hardwood floors, custom kitchens, and quartz countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$132,120
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,642,400
$2.6M
Cap Rate 7%
$1,887,429
$1.9M
Cap Rate 9%
$1,468,000
$1.5M
Market Conditions
NOI Build-Up for 5,412 SF
Gross rent
$227.3K $42.00/SF
− Vacancy
−$15.9K −$2.94/SF
EGI
$211.4K $39.06/SF
− OpEx
−$79.3K −$14.65/SF
NOI
$132.1K $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%
$2,642,400
Cap Rate 7%
$1,887,429
Cap Rate 9%
$1,468,000
Alternative Uses
Best Use
Mixed Use
$1.89M
$1.65M – $2.20M
NOI $132,120 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$1.82M
$1.59M – $2.12M
NOI $127,139 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$4.05M
$3.55M – $4.73M
NOI $283,675 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,664
Businesses Nearby
Explore this area
Business Placement
Demographics for 02130, MA
38,284
Population
18,802
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
94%
High-School Grad
3.5 sq mi
ZIP Area
10,938
Density / Sq Mi
$130,533
Median Household Income
$73,238
Median Earnings
$2,434
Median Rent
$763,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Vacant property combines updated residential units with first-floor tavern and restaurant space.
Where is this mixed-use property located?
The property is located at 717 Centre St Boston, MA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Four residential rental units plus first‑level tavern and restaurant space; Residential addition constructed in 2021; Large living rooms, hardwood floors, custom kitchens, and quartz countertops
