1 Sprague St - Loft/Creative Space FOR SALE


Revere, MA 02151- Downtown Revere
$1,599,000 USD
978-204-3874
1 Sprague St, Revere, MA for Sale
$1,599,000 USD
Loft/Creative Space - FOR SALE
1/58
null | Request Cap Rate

1 Sprague St
Revere, MA 02151
Downtown Revere


HIGHLIGHTS

  • Prime location minutes from Downtown Boston and Logan International Airport.
  • Excellent connectivity via U.S. Route 1, Route 60, and the Massachusetts Turnpike.
  • Situated in a dense, growing residential neighborhood with nearby retail and dining.
  • Close proximity to the popular Revere Beach waterfront and major employment hubs.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,599,000 USD

PRICE/SF

$476 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,808 SF

ZONING

RB

APN/PARCEL ID

REVE-000015-000258-000013

ASK ABOUT THIS PROPERTY

Pete CastrichiniBarry Realty GroupMore Info
978-204-3874

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Pete CastrichiniBarry Realty GroupMore Info
978-204-3874

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.