768 Tremont StBoston, MA 02118

Property Details for 768 Tremont St

Lot size

0.09 AC

Property type

Residential income properties

Property subtype

Other land

Description

This exceptional 0.09-acre land parcel at 768-772 Tremont Street in Boston's vibrant South End presents a unique redevelopment opportunity. The property boasts existing ZBA approval (granted in 2019) for a significant expansion, transforming the current 1.5-story structure into a four-story building. This expansion increases the unit count from four (two commercial, two residential) to eight (two commercial, six residential). The first floor currently houses two commercial units: Unit A (1444 sq ft) and Unit B (902 sq ft), currently occupied by a barbershop (350 sq ft, $2035/month TAW) and a pizza shop (6390/month). The current lease term for these commercial spaces runs until April 30, 2025. The existing second, third, and fourth floors will be converted into six residential units, each with two bedrooms and two bathrooms. Two of the residential units are currently leased at $2200/month and $2000/month TAW. The seller previously operated a dental practice on the premises but has since relocated, leaving the space vacant and ready for new tenants or conversion. This prime South End location offers significant potential for a savvy investor seeking to capitalize on the area's high demand for both commercial and residential spaces. The asking price for this exceptional property is $5,250,000. The property is located in Suffolk County, MA, zip code 02118.

Location Insight

City

Boston

County

Suffolk

State

Massachusetts

Latitude

42.3394

Longitude

-71.0796

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