Condominium Restaurant
For Sale
Contact for pricing
805 Harrison Avenue, Boston, MA 02118
Restaurant condominium opportunity in Boston’s South End, positioned directly across from Boston Medical Center.
Property Size1,200 SF
Price / SF$750
Days on Market58
Property Features for 805 Harrison Avenue
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Retail
Building Details
Tenancy
Single
Listing Agency:
Conviser Property Group, Inc.
(781) 320-0600
Listed By:
Jim Conviser · License #MA
Source:
Crexi
Added: Jun 15
Changed: Aug 8
Last Checked: Aug 11 at 9:28AM
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 Conviser Property Group, Inc.
Investment Insights
Based on property information with market context.
This commercial condominium is currently used as a restaurant and is being offered for sale. The property is structured as an individual unit, providing a dedicated space for restaurant operations within a condominium framework.
The unit is located in Worcester Square in Boston’s Historic South End. It sits directly across from Boston Medical Center and is surrounded by established dining options, including restaurants and cafes, as well as nearby brownstone homes.
For a restaurant operator or buyer seeking a built-in food service setting in the South End, the location offers practical proximity to a major medical anchor and a restaurant-forward streetscape. The condominium format may appeal to parties looking to own their restaurant space rather than lease within a larger building, with the asset currently configured and operating as a restaurant at the time of offering.
The unit is located in Worcester Square in Boston’s Historic South End. It sits directly across from Boston Medical Center and is surrounded by established dining options, including restaurants and cafes, as well as nearby brownstone homes.
For a restaurant operator or buyer seeking a built-in food service setting in the South End, the location offers practical proximity to a major medical anchor and a restaurant-forward streetscape. The condominium format may appeal to parties looking to own their restaurant space rather than lease within a larger building, with the asset currently configured and operating as a restaurant at the time of offering.
Key Highlights
- Commercial condominium currently used as a restaurant
- Located in Worcester Square in Boston’s Historic South End
- Unit is directly across from Boston Medical Center
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
$27,972
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
3.11%
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%
$559,440
$559.4K
Cap Rate 7%
$399,600
$399.6K
Cap Rate 9%
$310,800
$310.8K
Market Conditions
NOI Build-Up for 1,200 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
$40.3K $33.60/SF
− Vacancy
−$3.0K −$2.52/SF
EGI
$37.3K $31.08/SF
− OpEx
−$9.3K −$7.77/SF
NOI
$28.0K $23.31/SF
Area
ZIP 02118
Vacancy
7.50%
Lease Rate
$33.60 /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%
$559,440
Cap Rate 7%
$399,600
Cap Rate 9%
$310,800
Alternative Uses
Best Use
Specialty Retail
$399.6K
$349.7K – $466.2K
NOI $27,972 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$901.8K
$789.1K – $1.05M
NOI $63,124 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,115
Businesses Nearby
69k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 64%
Shops & Services 23%
Hotels & Casinos 7%
Dining 7%
Whole Foods Market
Groceries
43,710 visits/mo
0.3 miles
Mobil
Shops & Services
9,976 visits/mo
0.1 miles
Bank of America
Shops & Services
5,347 visits/mo
0.4 miles
Cambria Hotels Boston Downtown - Seaport
Hotels & Casinos
4,828 visits/mo
0.4 miles
Dunkin' Donuts
Dining
3,535 visits/mo
0.2 miles
Demographics for 02118, MA
29,073
Population
15,554
Households
1.9
Avg Household Size
36
Median Age
58%
College-Educated
87%
High-School Grad
1.1 sq mi
ZIP Area
26,430
Density / Sq Mi
$90,142
Median Household Income
$73,110
Median Earnings
$1,748
Median Rent
$1,029,100
Median Home Value
Market
Vacancy Rate% for Retail in Boston, MA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant condominium opportunity in Boston’s South End, positioned directly across from Boston Medical Center.
Where is this conventional restaurant located?
The property is located at 805 Harrison Avenue Boston, MA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Commercial condominium currently used as a restaurant; Located in Worcester Square in Boston’s Historic South End; Unit is directly across from Boston Medical Center
