88 North Washington Boston — Photo 1 of 8
$1,999,000
Investment Analysis — 88 North Washington
Boston, MA 02114 — North End
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a home in 02114 carries an estimated $3,540/mo in gross rent — about a 1.61% cap rate and $32,186/yr in estimated NOI at the $1,999,000 list price. Adjust every assumption in the calculator below.
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The property is located on a highly visible corner and consists of +/- 2,188 SF of land with current entitlements for over 18,200 buildable square feet. The current entitlements are approved for a 42-key boutique hotel, 8 stories, and an 8.3 FAR. Located along a main thoroughfare which acts as a gateway to downtown Boston, 88 NOWA offers a highly visible site at one of the most active intersections in Boston. The immediate surrounding area has gone through a renaissance of development. Boston Properties developed a 1.9 million square foot mixed-use center just steps away at North Station as well as HYM Investment Group’s 2.9 million square foot redevelopment of Government Center Garage. Additionally, the property is located just a 3-minute walk from the TD Garden which is the home of the Boston Celtics and year-round entertainment. The North Station/Waterfront area is truly a transit-oriented location with a supreme employment base which continues to grow.
Estimates — not financial advice
These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.
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Listing Agent: Kevin Benzinger
Listing Office: Boston Realty Advisors
MLS® Number: 73552157
