Price cut −4%Open Sun
$53,845,000
5.6% cap · 48,660 sq ft RBA · Class B
2299 Columbus Ave
Boston, MA 02118
Listed 4 months ago$1107/sq ft
01 / 09
Price cut −3%For SaleOffice
$51,570,000
179 Dorchester Ave
Back Bay · Boston, MA 02116
$984/sq ft189 days on market4.2K views244 saves
Key facts
- Interior
- 52,410 sq ft
- Lot
- 2.99 acres
- Year built
- 1947
- Property type
- Office
- Price / sq ft
- $984/sq ft
- Annual taxes
- $556,960
- Days on market
- 189
Getting around
Walk Score99
Walker's Paradise
Transit Score95
Rider's Paradise
Bike Score85
Very Bikeable
About this property
A Class C office building on Dorchester Ave trading at a 7.8% cap with 77% occupancy. Zoning and the freight elevator leave the door open for a future repositioning. Seller will consider a structured sale-leaseback.
Investment summary
Investment summary
Cap rate
7.80%
Net operating income ÷ price
Net operating income
$4,022,460
Annual, after operating expenses
Cash-on-cash
+6.7%
$1,029,514 annual cash flow on $15,471,000 equity
Occupancy77%
40,356 sq ft leased of 52,410 sq ft
- Tenants
- 10
- Rentable area
- 52,410 sq ft
- Price / sq ft
- $984/sq ft
- WALE
- 4.9 yrs
- Lease type
- Full Service
- Building class
- Class C
- Zoning
- CS-1
- Parking
- 168 spaces
Cash-on-cash assumes 30% equity, a 6.75% fixed rate and 25-year amortisation — $2,992,946 of annual debt service. Illustrative only; underwrite with the actual rent roll and operating statements.
Features & amenities
Features & finishes
Parking & Access
- Freight Elevator
Highlights
- LEED Gold Certified
- Conference Center
- Fiber Connectivity
- Value-Add Upside
- Recent Capital Improvements
- 24/7 Card Access
- Below-Market Rents
- Build-to-Suit Ready
- NNN Leases in Place
Price history
Every listing event recorded for this property.
- Listed
- Price cut
| Date | Event | Price |
|---|---|---|
| 2026-01-17 | Listed | $53,085,000 |
| 2026-02-19 | Price cut | $52,668,000 |
| 2026-03-29 | Price cut | $51,570,000 |
Location
Back Bay, Boston — Suffolk County
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Approximate location · Back Bay
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Estimated monthly
$319,513/mo
- Principal & interest81%$258,059
- Property tax15%$46,413
- Home insurance5%$15,041
An estimate, not a quote. Insurance is seeded at 0.35% of the purchase price and excludes mortgage insurance, which most lenders require below 20% down.
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Loan amount $41,256,000 · 30 yr · 6.40%
