272 Meridian St Boston, MA 02128

Property Details for 272 Meridian St

Year built

1899

Property size

3,584 SF

Property type

Retail properties

Property subtype

Mixed-use properties

Description

This exceptional East Boston mixed-use property presents a compelling investment opportunity. Located at 272-274B Meridian Street, this four-story, 3,584 square foot building boasts a strong current cash flow and significant redevelopment potential. Currently operating at 75% occupancy, the property features a ground-floor commercial space and three or more residential units above. The current Net Operating Income (NOI) is $140,377, yielding a 5.98% cap rate. However, a pro-forma analysis projects a NOI of $176,376, resulting in a 7.51% cap rate, showcasing the property's upside. The building sits on a 2,534 square foot lot and benefits from a Mixed-Use 7 zoning designation, allowing for substantial expansion. Situated between Eagle Hill and Maverick Square, the property enjoys convenient access to amenities such as Liberty Plaza (CVS, Shaw's, Kappy's Liquors), local restaurants and shops, and easy commutes to Downtown Boston via the Maverick MBTA station (0.5 miles) or water ferry. With its prime location in a rapidly developing area and the potential for significant value appreciation, this property is an ideal investment for both seasoned investors and those seeking a strong return on investment. The building was constructed in 1899 and has a net rentable area of 2,912 square feet. The asking price is $2,349,000, translating to a price per square foot of $655.41.