Two-Level Restaurant Condominium
823 E SIXTH ST Boston, MA 02127
823 E SIXTH ST, Boston, MA, 02127
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For Sale
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Two-level restaurant condo in the Farragut House, including one deeded parking space and access to common operations facilities.
Property Size4,781 SF
Price / SF$277.94
Days on Market32
Property Features for 823 E SIXTH ST
General Information
- Standard status
- Active
- Size
- 4,781 SF
- Property subtype
- Retail
Listing agency
Newmark - Boston
(617) 863-8090
Listed by
Joseph Alvarado · License #MA 9028884
Source
Crexi
Added: Jun 22 Updated: Jul 22 at 11:11PM Checked: Jul 22 at 11:11PM
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 Newmark - Boston
Investment Insights
Based on property information with market context.
Condominium Unit #4 within the Farragut House Condominium, a 4,781-square-foot mixed-use restaurant condominium. The unit spans two levels, with approximately 2,400 SF on the first floor and approximately 2,381 SF in the basement. Ownership includes one deeded parking space (#4), with an option to purchase an exclusive easement for the space for $35,000. The premises also benefits from access to common facilities necessary for restaurant operations.
The property is located within the Farragut House Condominium in South Boston. The unit is subject to the Farragut Condominium Master Deed and Declaration of Trust, including a pro-rata share of insurance costs currently set at 66.67% of the Trust’s common insurance expense.
The property is located within the Farragut House Condominium in South Boston. The unit is subject to the Farragut Condominium Master Deed and Declaration of Trust, including a pro-rata share of insurance costs currently set at 66.67% of the Trust’s common insurance expense.
Key Highlights
- Two‑level restaurant condominium unit (#4) in the Farragut House Condominium at 149 P Street, South Boston.
- Total unit size is 4,781 SF, including approx. 2,400 SF on the first floor and approx. 2,381 SF in the basement.
- Includes one deeded parking space (#4) with an option to purchase an exclusive easement for the space for $35,000.
Local Financial Insights For Specialty Retail
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 | $132.0k | $27.60 |
| − Vacancy | −$9.2k | −$1.93 |
| EGI | $122.7k | $25.67 |
| − OpEx | −$30.7k | −$6.42 |
| NOI | $92.0k | $19.25 |
4,781 SF · lease $27.60/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.31M
$1.15M – $1.53M
NOI $92,039 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.58M
$3.13M – $4.18M
NOI $250,601 @ 7.0% cap · market cap 18.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Two-level restaurant condo in the Farragut House, including one deeded parking space and access to common operations facilities.
Where is this conventional restaurant located?
The property is located at 823 E SIXTH ST Boston, MA.
What is the asking price?
The asking price for this property is $1,328,847.
What are key features of this property?
This property features: Two‑level restaurant condominium unit (#4) in the Farragut House Condominium at 149 P Street, South Boston.; Total unit size is 4,781 SF, including approx. 2,400 SF on the first floor and approx. 2,381 SF in the basement.; Includes one deeded parking space (#4) with an option to purchase an exclusive easement for the space for $35,000.
