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1 Sprague St 3,362 SF 100% Leased Office Building Revere, MA 02151 $2,271,699 CAD ($675.70 CAD/SF)
Investment Highlights
- Prime location minutes from Downtown Boston and Logan International Airport.
- Situated in a dense, growing residential neighborhood with nearby retail and dining.
- Excellent connectivity via U.S. Route 1, Route 60, and the Massachusetts Turnpike.
- Close proximity to the popular Revere Beach waterfront and major employment hubs.
Executive Summary
Currently a legal 5-unit property listing in RB zoning. Longtime positive cash flow property used for law offices and music school & mixed use. Residential 3+ bedroom unit on 2nd floor. Property also contains drive in commercial garage space with garage doors and access to the 1st floor from inside the garage space. Current rent roll is $7200 a month. Ownership is on site and operating as attorney and law services, with additional rent income producing tenants. Current city zoning is RB which consists of one- and two-family units. Development opportunities to add additional units and levels with waters views is the hidden gem at this location. Special permitting would be required. Ownership is willing to offer help with its legal services of the process to help buyer. MBTA transportation and proximity to revere beach is added benefits. Buyers to do due diligence as best use as to maintain as current 5 unit or special permitting for condos/development in a development friendly town.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
3,362 SF
Building Class
B
Year Built
1900
Price
$2,271,699 CAD
Price Per SF
$675.70 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,681 SF
Building FAR
0.49
Lot Size
0.16 AC
Zoning
RB - Moderate-density residential district
Parking
6 Spaces (1.78 Spaces per 1,000 SF Leased)
1 1
Very walkable
80/100
Moderately drivable
70/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | REVE-000015-000258-000013 | Improvements Assessment | $733,378 CAD |
| Land Assessment | $625,654 CAD | Total Assessment | $1,359,032 CAD |
Property Taxes
Parcel Number
REVE-000015-000258-000013
Land Assessment
$625,654 CAD
Improvements Assessment
$733,378 CAD
Total Assessment
$1,359,032 CAD
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1 Sprague St
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