660-674 Cambridge St Cambridge, MA 02141
- Retail properties
- 19,290 SF
- 0.19 lot acres
Current Use by Public Records
- Retail properties
Property Details for 660-674 Cambridge St
- Year built
- 1992
- Lot size
- 0.19 lot acres
- Property size
- 19,290 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional mixed-use investment property, located at 660-674 Cambridge Street in East Cambridge, Massachusetts, presents a compelling opportunity. The four-story, brick building encompasses 19,290 square feet, featuring 14 units: three 3-bedroom/1-bathroom, eight 2-bedroom/1-bathroom, two studios, and one commercial space occupied by Gufo, an Italian restaurant and bar. The property boasts a 100% occupancy rate with a stabilized NOI of $513,948, representing a 5.71% capitalization rate on the $9,000,000 asking price. The building, constructed in 1992, sits on a 0.19-acre lot and offers condo-quality finishes in the residential units, including granite countertops, updated cabinets, stainless-steel appliances, and newer bathrooms. All residential units have separate meters for electricity, heat, and air conditioning (tenant-paid), while the landlord covers water and sewer. An on-site laundry facility adds convenience. Gufo's lease, commenced in December 2022, includes a 10-year term with one 5-year renewal option, featuring attractive annual rent increases and pro-rata reimbursement of operating expenses. Gufo also pays for its utilities and water/sewer usage. The property's prime location offers easy access to public transportation, including the Green and Red Lines, and is within walking distance of Kendall Square, MIT, and Downtown Boston. This turnkey investment presents strong income growth potential in a highly desirable Cambridge location, with a robust population and high average household income within a 3-mile radius. The property benefits from its proximity to major employment centers, numerous amenities, and ongoing commercial and infrastructure development in the area.
Value Estimation
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cambridge
- County
- Middlesex
- State
- Massachusetts
- Longitude
- -71.0875
- Latitude
- 42.372
