Cambridge Commercial Condo in Porter
For Sale
Contact for pricing
Pending
1812 Massachusetts Ave, Cambridge, MA 02140
Street-level commercial condo in vibrant Porter Square, Cambridge.
Property Size3,692 SF
Days on Market717
Property Features for 1812 Massachusetts Ave
General Information
Standard status
Pending
Size
3,692 SF
Property subtype
Office, Retail
Investment Type
Core
Building Details
Year Built
1930
Buildings
1
Units
1
Listing Agency:
Hunneman
Listed By:
Carl Christie · License #MA 9521806
(781) 888-5284
Source:
Crexi
Added: Sep 20, 2024
Changed: Aug 8
Last Checked: Jul 24 at 4:18PM
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 Hunneman
Investment Insights
Based on property information with market context.
Located at 1812 Massachusetts Avenue in Cambridge, MA, this street-level commercial condominium offers approximately 2,224 square feet on the first floor, complemented by a finished basement with 905 square feet of kitchen space and an additional 563 square feet of hallway space. The property is currently vacant. The suite is suitable for a restaurant, including fine dining, a retail shop, or an office. The property benefits from abundant natural light and high visibility due to its frontage on Massachusetts Avenue. Situated in the heart of Porter Square, the location provides convenient access to the MBTA Red Line. The condo includes one deeded parking space. The property offers an opportunity for an investor or owner/user to acquire a commercial condominium in Cambridge, MA.
Key Highlights
- Prime Porter Square location with high visibility frontage on Massachusetts Avenue.
- Versatile space suitable for restaurant, retail, or office use.
- Significant square footage: 2,224 sq ft on the 1st floor plus 905 sq ft finished basement with kitchen space.
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
$72,492
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
8.28%
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%
$1,449,840
$1.4M
Cap Rate 7%
$1,035,600
$1.0M
Cap Rate 9%
$805,467
$805.5K
Market Conditions
NOI Build-Up for 3,692 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
$110.8K $30.00/SF
− Vacancy
−$7.2K −$1.95/SF
EGI
$103.6K $28.05/SF
− OpEx
−$31.1K −$8.42/SF
NOI
$72.5K $19.63/SF
Area
Cambridge, MA
Vacancy
6.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,449,840
Cap Rate 7%
$1,035,600
Cap Rate 9%
$805,467
Alternative Uses
Best Use
Retail
$1.04M
$906.2K – $1.21M
NOI $72,492 @ 7.0% cap · market cap 8.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.85M
$2.49M – $3.32M
NOI $199,245 @ 7.0% cap · market cap 22.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,491
Businesses Nearby
109k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Shops & Services 31%
Home Improvements & Furnishings 23%
Groceries 11%
Tags Hardware
Home Improvements & Furnishings
25,601 visits/mo
0.2 miles
Speedway
Shops & Services
12,804 visits/mo
0.3 miles
Star Market
Groceries
11,760 visits/mo
0.5 miles
Cumberland Farms
Shops & Services
11,484 visits/mo
0.3 miles
Panera Bread
Dining
9,861 visits/mo
0.2 miles
Demographics for 02140, MA
21,447
Population
11,117
Households
1.9
Avg Household Size
35
Median Age
79%
College-Educated
95%
High-School Grad
1.2 sq mi
ZIP Area
17,873
Density / Sq Mi
$136,382
Median Household Income
$77,506
Median Earnings
$2,581
Median Rent
$1,070,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Street-level commercial condo in vibrant Porter Square, Cambridge.
Where is this retail space located?
The property is located at 1812 Massachusetts Ave Cambridge, MA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Prime Porter Square location with high visibility frontage on Massachusetts Avenue.; Versatile space suitable for restaurant, retail, or office use.; Significant square footage: 2,224 sq ft on the 1st floor plus 905 sq ft finished basement with kitchen space.
