Street-Level Convenience Store
For Sale
$599,000
C-655 Saratoga St, Boston, MA 02128
Leased commercial condominium with an unfinished basement and direct interior access for additional storage.
Property Size1,026 SF
Price / SF$583.82
Days on Market22
Property Features for C-655 Saratoga St
General Information
Standard status
Active
Size
1,026 SF
Occupancy
100%
Additional Details
Floor
Ground
Gross Income
$45,732
Building Details
Tenancy
Single
Listing Agency:
Century 21 North East
(617) 389-1129
Listed By:
MG Group
Source:
Exprealty
Added: Jul 19
Changed: Aug 9
Last Checked: Aug 9 at 10:17AM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This street-level commercial condominium at C-655 Saratoga St offers 1,026 square feet of leased retail space occupied by a convenience store. The premises are described as clean and well maintained, with direct interior access to an unfinished basement of approximately 960 square feet. The basement provides supplemental storage area within the same property.
The property is fully leased, and the current lease includes 6% annual increases for the next 1 year. Its commercial condominium format and existing convenience-store occupancy provide a straightforward asset configuration at a Boston address.
The property is fully leased, and the current lease includes 6% annual increases for the next 1 year. Its commercial condominium format and existing convenience-store occupancy provide a straightforward asset configuration at a Boston address.
Key Highlights
- Fully leased to a convenience store
- 1,026 SF street‑level commercial condominium
- Approximately 960 sqft unfinished basement
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
$19,752
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
3.30%
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%
$395,040
$395.0K
Cap Rate 7%
$282,171
$282.2K
Cap Rate 9%
$219,467
$219.5K
Market Conditions
NOI Build-Up for 1,026 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
$28.3K $27.60/SF
− Vacancy
−$2.0K −$1.93/SF
EGI
$26.3K $25.67/SF
− OpEx
−$6.6K −$6.42/SF
NOI
$19.8K $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%
$395,040
Cap Rate 7%
$282,171
Cap Rate 9%
$219,467
Alternative Uses
Best Use
Specialty Retail
$282.2K
$246.9K – $329.2K
NOI $19,752 @ 7.0% cap · market cap 3.30%
Second Best
Retail
$236.6K
$207.0K – $276.0K
NOI $16,560 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$768.3K
$672.2K – $896.3K
NOI $53,779 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,051
Businesses Nearby
253k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 28%
Groceries 15%
Apparel 10%
Shaw's Supermarket
Groceries
38,339 visits/mo
0.1 miles
Dunkin' Donuts
Dining
25,268 visits/mo
0.4 miles
Marshalls
Apparel
24,698 visits/mo
0.1 miles
McDonald's
Dining
23,404 visits/mo
0.1 miles
Burger King
Dining
18,940 visits/mo
0.4 miles
Demographics for 02128, MA
43,066
Population
19,124
Households
2.3
Avg Household Size
33
Median Age
38%
College-Educated
77%
High-School Grad
5.0 sq mi
ZIP Area
8,613
Density / Sq Mi
$92,079
Median Household Income
$48,549
Median Earnings
$2,009
Median Rent
$680,000
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?
Grocery and convenience store - Leased commercial condominium with an unfinished basement and direct interior access for additional storage.
Where is this grocery and convenience store located?
The property is located at C-655 Saratoga St Boston, MA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Fully leased to a convenience store; 1,026 SF street‑level commercial condominium; Approximately 960 sqft unfinished basement
