550-560 Washington St - 550 &56 Washington St. 1.7 Acres of Commercial Land Offered at $3,075,975 CAD in Weymouth, MA 02188

OFFERING: Direct sale by Trustee of Union Realty Trust at $2,250,000. Owner/broker — Raymond D. Jennings III, Licensed MA Real Estate Broker, Jennings Jennings & Fishman, 781-337-4221 x203, rayjennings@jenningsfishman.com. Co-broker cooperation at standard commercial commission — contact listing broker to confirm split before submitting offer.
ENTITLEMENTS: Special Permit and Variance are final. ZBA Case No. 3497 approved unanimously July 12, 2023. No appeal filed within 20-day period. Weymouth Town Clerk certification issued October 4, 2023. Buyer takes no entitlement risk.
INFRASTRUCTURE: Sewer and water capped at site boundary. No road-opening permit required on Route 53 (Route 53 repaved 2025 — MassDOT utility opening fully avoided). No groundwater encountered in any of 10 geotechnical borings. Storm drainage design included in civil plan set.
EXISTING TENANCY: Property subject to active NNN restaurant lease through December 31, 2028 at $5,000/month. Vacant possession requires lease termination agreement with tenant. Tenant is an established operating restaurant with active all-liquor license available to execute long-term NNN lease on 3,000 SF ground-floor space in new building. Pre-committed anchor tenant represents significant lender underwriting advantage — estimated $1M-$2M in project value vs. vacancy scenario.
CONSTRUCTION COSTS: Documented hard cost estimate $8,937,780 (Adams Builders, 12/2023) including ledge removal at $446,000 (MD Drilling & Blasting quote, 12/2023). No groundwater dewatering required. Soft costs documented: architecture $30,500 fixed (Fisher Associates) + MEP $50,000-$70,000 fixed (South Shore Construction Consultants). Cost estimates are 2023 vintage — buyer to update.
ZONING: B-1 / Washington Street Commercial Corridor Overlay. Wetland buffer zone along northerly boundary; approved plan accounts for setbacks. Ledge present at site — confirmed by borings, included in construction budget.
TITLE: Offered by Quitclaim Deed, free and clear of all liens and encumbrances. Norfolk County Registry of Deeds. FY2025 assessed value $1,148,200; annual taxes $15,106. Parcel ID: OFFERING: Direct sale by Trustee of Union Realty Trust at $2,250,000. Owner/broker — Raymond D. Jennings III, Licensed MA Real Estate Broker, Jennings Jennings & Fishman, 781-337-4221 x203, rayjennings@jenningsfishman.com. Co-broker cooperation at standard commercial commission — contact listing broker to confirm split before submitting offer.
ENTITLEMENTS: Special Permit and Variance are final. ZBA Case No. 3497 approved unanimously July 12, 2023. No appeal filed within 20-day period. Weymouth Town Clerk certification issued October 4, 2023. Buyer takes no entitlement risk.
INFRASTRUCTURE: Sewer and water capped at site boundary. No road-opening permit required on Route 53 (Route 53 repaved 2025 — MassDOT utility opening fully avoided). No groundwater encountered in any of 10 geotechnical borings. Storm drainage design included in civil plan set.
EXISTING TENANCY: Property subject to active NNN restaurant lease through December 31, 2028 at $5,000/month. Vacant possession requires lease termination agreement with tenant. Tenant is an established operating restaurant with active all-liquor license available to execute long-term NNN lease on 3,000 SF ground-floor space in new building. Pre-committed anchor tenant represents significant lender underwriting advantage — estimated $1M-$2M in project value vs. vacancy scenario.
CONSTRUCTION COSTS: Documented hard cost estimate $8,937,780 (Adams Builders, 12/2023) including ledge removal at $446,000 (MD Drilling & Blasting quote, 12/2023). No groundwater dewatering required. Soft costs documented: architecture $30,500 fixed (Fisher Associates) + MEP $50,000-$70,000 fixed (South Shore Construction Consultants). Cost estimates are 2023 vintage — buyer to update.
ZONING: B-1 / Washington Street Commercial Corridor Overlay. Wetland buffer zone along northerly boundary; approved plan accounts for setbacks. Ledge present at site — confirmed by borings, included in construction budget.
TITLE: Offered by Quitclaim Deed, free and clear of all liens and encumbrances. Norfolk County Registry of Deeds. FY2025 assessed value $1,148,200; annual taxes $15,106. Parcel ID: 29-330-3-0. Legal description: A certain parcel of land with the buildings thereon situated on the Easterly side of Washington Street in Weymouth, Massachusetts and bounded and described as follows:
Beginning at a stone bound on the Easterly side of Washington Street, separating the granted premises and land of one Thayer; thence turning and running along the division line separating the granted premises and land of said Thayer in a Northeasterly direction by two lines measuring together five hundred (500) feet more or less to the Northerly corner of said land of Thayer.
Thence turning and running in a Northwesterly direction along land now or formely of Richards by a line being a continuation in a straight line of the Northeasterly boundary of said land of Thayer to a brook.
Thence turning and running by said brook in a general Southwesterly direction to said
Washington Street.
Thence turning and running Southeasterly along said Washington Street two hundred and fifty (250) feet more or less to the point of beginning.
OFFERS: Submit LOI to listing broker. Seller will respond within 5 business days. Seller reserves the right to negotiate with multiple parties simultaneously.