31-37 Revere Road
Quincy, MA 02169
Cash flowing Mixed-use Development Opportunity with QCZD-10 zoning in Quincy Center
Prime Income Producing Property with significant future development value in the QCZD-10 zoning and in a Designated Opportunity Zone.
Cusack & Associates’ Multi-Family Advisory Group is pleased to present the opportunity to acquire the QCP, a boutique urban portfolio located in Quincy, Massachusetts. Totaling 8 units, this portfolio is strategically located in one of the Boston area’s most desirable neighborhoods, offering enviable access to major employers, retail, and transportation.
The QCP consists of two properties that have been partially renovated, with three of the units having been recently improved. The renovations included updating kitchens and bathrooms as well as general common area cosmetic work. In addition to their intrinsic value as cash flowing rental units, the properties offer significant additional value as a future redevelopment play. Revere Road, with its QCZD-10 zoning, offers significant density as a future development play.
Ideally located along several bus lines, and within walking distance of the MBTA Red Line and commuter rail, these properties are perfect for residents looking for access to employment opportunities in downtown Quincy, Boston, and throughout the South Shore in a vibrant amenity and history rich locale. The properties in the QCP are situated in one of the most highly desirable areas south of Boston, with unmatched access to many of other nation’s top colleges and universities, technology, financial and bio-tech employees and many of the region’s best shopping and dining amenities.
Revere Rd Two (2) Four Family buildings plus one storage building
Six (6) 1/2 bedroom and two (2) three bedroom units
True Core Location
Situated in the Quincy Center neighborhood, The QCP is an 8 minute walk to the Greenbush and Middleborough/Lakeville Lines at the Quincy Center Red Line Station and four blocks from City Hall. Its walk score of 90 makes daily errands easy, not requiring a vehicle.
The QCZD-10 designations allows the development of up to 10 stories on the Revere St. parcel.
Covered Land Play
Current cash flow from existing 8 units with no lease committments generates significant positive cash flow which can easily be increased by future management.
The 17,751 sqft site occupies a corner location where Revere St meets Mechanic street with exposure to over 40,000 vehicles per day. The Quincy Center Portfolio is directly across Revere Street (McGrath Highway) from LBC’s Nova development as well as O’Connel’s One Chestnut, some of Quincy’s most exciting and best performing new multi family developments.
Walpole’s Upscale Demographics
Its population of 26,383 boasts a workforce that is 88.5% white collar and has an average per capita income of $52,718, with 55% of residents having obtained at least a four year college degree. The average home value in Walpole is $685,100, well above the Massachusetts suburban average.
Quincy, abutting Boston and connected via the Red Line and Route 93 through to Cambridge, is attracting new residents and capital due to its powerful and diverse economic underpinnings. As a world leader in Education, Health Care, Technology, and Life Sciences, the region consistently ranks in the top 5 in the nation for real estate investment.
|Zoning:||60% GR/ 40% CBD|
|Lot Area:||215,472 square feet|
|Current Use:||9 residential/mixed use|
|Address||Sq Ft Land||Zoning|
|101 School St||19,260||GR|
|99 School St||17,599||GR|
|915 East St||16,999||GR|
|919 East St||41,674||GR|
|931 East St||35,825||CBD|
|929 East St*||27,934||CBD|
|892 Main St||20,700||CBD|
|878 Main St||21,050||GR|
|30 Maple St||14,431||GR|
|TOTAL||215,472||60 GR/40 CBD|
* includes “0” East
Stable Upscale Suburban Lifestyle
Walpole is a classic New England town with a quaint and vibrant Town Center.
It has immediate access to Route 95 North and South, less than ½ hour drive to Providence, RI.
|Address:||31-37 Revere Rd, Quincy, MA 02169|
|Lot Area:||17,751 square feet|
|Current Use:||Eight Dwelling units plus storage|
QCZD-10 district is primarily intended to accommodate mixed-use development including a broad range of uses including residential, retail, hospitality, biotech/medical office or assisted living. The property is also within the URDP designation. With the Ross and Hancock parking lot redevelopments completed, this is a prime location for substantial development.
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