Listing Agency: Kraft Fine Homes Show Phone

Listed By: Cynthia Lanciloti Show Phone

Source: Exprealty

Added: Mar 3 Changed: Sep 5 Last Checked: Sep 6 at 2:06PM

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Investment Insights

Based on property information with market context.

The property consists of a level site in two separate lots totaling approximately 6,126 sf +/- (5,173 sf and 953 sf). A Phase I ESA (21E) has been completed and is available upon request.

The site is located within both a VC 2 zone and a BU 2 zone, which supports a variety of uses and development opportunities. The property is situated approximately two blocks from the commuter rail station.

Please do not walk the site without the listing agent, as there is still an ongoing busy service station.

Key Highlights

• Prime intersection location in Newtonville; visible from a busy commercial area
• Level site on two lots totaling about 6,126 SF (5,173 SF + 953 SF)
• Zoned VC 2 and BU 2, allowing for a variety of uses and development opportunities

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

$117,932

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

4.72%

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%

$2,358,640 $2.4M

Cap Rate 7%

$1,684,743 $1.7M

Cap Rate 9%

$1,310,356 $1.3M

Market Conditions

NOI Build-Up for 6,126 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

$169.1K $27.60/SF

− Vacancy

−$11.8K −$1.93/SF

EGI

$157.2K $25.67/SF

− OpEx

−$39.3K −$6.42/SF

NOI

$117.9K $19.25/SF

Area

Boston, MA

Vacancy

7.00%

Lease Rate

$27.60 /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%

$2,358,640

Cap Rate 7%

$1,684,743

Cap Rate 9%

$1,310,356

Alternative Uses

Best Use

Specialty Retail

$1.68M

$1.47M – $1.97M (±1% cap)

NOI $117,932 @ 7.0% cap · market cap 4.72%

Second Best

Retail

$1.41M

$1.24M – $1.65M (±1% cap)

NOI $98,877 @ 7.0% cap · market cap 3.96%

Theoretical Best

Office A

$4.59M

$4.01M – $5.35M (±1% cap)

NOI $321,100 @ 7.0% cap · market cap 12.84%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Commercial land

Suggested Use

Top Pick Law Firm Real Estate Agency HVAC Service Skin Care Clinic Cafe & Coffee Shop Food Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

637

Businesses Nearby

37k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Groceries 86% Shops & Services 12% Home Improvements & Furnishings 2%

Stop & Shop Groceries

31,439 visits/mo 0.3 miles

BP Shops & Services

2,680 visits/mo 0.3 miles

Prime Storage Shops & Services

1,747 visits/mo 0.4 miles

Sunbelt Rentals, Inc. Home Improvements & Furnishings

649 visits/mo 0.4 miles

Demographics for 02136, MA

35,102

Population

14,031

Households

2.5

Avg Household Size

39

Median Age

32%

College-Educated

88%

High-School Grad

4.6 sq mi

ZIP Area

7,631

Density / Sq Mi

$96,862

Median Household Income

$50,793

Median Earnings

$1,772

Median Rent

$566,300

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this commercial land located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Commercial land - Level site on two lots totaling about 6,126 sf, zoned VC 2 and BU 2 for development flexibility.

Where is this commercial land located?

The property is located at 911 Washington Street Pl Hyde Park, MA.

What is the asking price?

The asking price for this property is $2,500,000.

What are key features of this property?

This property features: Prime intersection location in Newtonville; visible from a busy commercial area; Level site on two lots totaling about 6,126 SF (5,173 SF + 953 SF); Zoned VC 2 and BU 2, allowing for a variety of uses and development opportunities