Tenenbaum True Value Hardware opened in 1923 and has been a staple on Belmont Avenue since 1925 as A.J. Tenenbaum Brothers Hardware.
The owners have sold the building, which will be demolished and replaced by a combination residential and retail building.
They say the decision to close resulted from the business not being quite as profitable, and their late father, who ran the store since 1955, encouraged his children to retire before he passed away a few years ago.
"We think we've done a real good job for the neighborhood. Like I said, it's bittersweet. There's been happiness and there's been tears. We've meant a lot to lots of our customers and our customers have meant a lot to us. And it's going to be sad the day I turn the door-lock and key for the last time," said co-owner Steven Lipshutz.
There was a one-day liquidation sale on Thursday where everything was 90 percent off. The owners say what's still left on the shelves will be donated to a ministry.