317 Boston Rd

A 2 to 2½ story wood frame, vinyl sided, former nursing home, Victorian-style structure, with a combination slate and asphalt shingle roof, 100% sprinklered, a full granite/brick foundation walled and concrete slab basement, built circa 1910, renovated in 2002 and over time. The property is state MASH certified as a 53-bed sober house under the 12-Step Education Program of New England.  This investment offers tremendous upside, when stabilized at an 85% occupancy (currently at 73% annualized).  Rents were increased, as of October 2025, to $310 per week for singles, $235 per week for shared accommodations, $1,250 per month for singles and $1,000 for shared accommodations (includes food). To date, the mix has historically been 10% monthly fees and 90% weekly fees.  The property is in need of an upgrade. 

Stabilized Proforma - The property has 53 beds and a gross building area of 9,929 sq ft. Gross scheduled income totals $691,219 ($69.62/sq ft), including $6,625 from laundry ($125/bed/yr). After a generous 25% vacancy or collection loss ($172,805), the effective gross income is $518,414. Total expenses are estimated at $512,058, which includes real estate taxes and an acheivable pure triple net lease payment of $250,000. The expenses are based on FY 2024, with 3% increases to reflect a forward looking estimate.  Landscaping at $1,000 and snow plowing at $1,500 were added, as was a reserve replacement at $0.40 per square foot. Net operating income, based on the non-profit operation is $6,356. if a stabilized occupancy of 85% is used, the net operating income is estimated at $71,331.

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