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 / 08
SoldHospitality
$59,715,000
8545 Commonwealth Ave
Beacon Hill · Boston, MA 02118
$856/sq ft40 days on market1.5K views90 saves
Key facts
- Interior
- 69,790 sq ft
- Lot
- 5.44 acres
- Year built
- 1917
- Property type
- Hospitality
- Price / sq ft
- $856/sq ft
- Annual taxes
- $644,920
- Days on market
- 40
Getting around
Walk Score99
Walker's Paradise
Transit Score98
Rider's Paradise
Bike Score81
Very Bikeable
About this property
4 tenants, 69,790 rentable square feet, and a Ground Lease structure that keeps the operating burden where it belongs. Conference Center and backup generator make the space genuinely functional rather than merely leasable. Full offering memorandum and T-12 available under NDA.
Investment summary
Investment summary
Cap rate
8.60%
Net operating income ÷ price
Net operating income
$5,135,490
Annual, after operating expenses
Cash-on-cash
+9.3%
$1,669,836 annual cash flow on $17,914,500 equity
Occupancy63%
43,968 sq ft leased of 69,790 sq ft
- Tenants
- 4
- Rentable area
- 69,790 sq ft
- Price / sq ft
- $856/sq ft
- WALE
- 9.6 yrs
- Lease type
- Ground Lease
- Building class
- Class C
- Zoning
- C-4
- Parking
- 55 spaces
Cash-on-cash assumes 30% equity, a 6.75% fixed rate and 25-year amortisation — $3,465,654 of annual debt service. Illustrative only; underwrite with the actual rent roll and operating statements.
Features & amenities
Features & finishes
Outdoor
- Roof Deck Amenity
Systems & Efficiency
- Backup Generator
Parking & Access
- On-Site Parking
Highlights
- Conference Center
- Value-Add Upside
- Below-Market Rents
- NNN Leases in Place
Price history
Every listing event recorded for this property.
- Listed
- Sold
| Date | Event | Price |
|---|---|---|
| 2018-06-08 | Sold | $49,043,000 |
| 2026-06-15 | Listed | $59,715,000 |
| 2026-07-22 | Sold | $59,715,000 |
Location
Beacon Hill, Boston — Suffolk County
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Approximate location · Beacon Hill
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Estimated monthly
$369,977/mo
- Principal & interest81%$298,817
- Property tax15%$53,743
- Home insurance5%$17,417
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 $47,772,000 · 30 yr · 6.40%
