Multifamily Property with Business
For Sale
$3,849,999
39-47 Water St, Quincy, MA 02169
Four-building residential property with an attached business component, paved parking, and completed condominium conversion preparation.
Property Size6,706 SF
Price / SF$574.11
Days on Market173
Property Features for 39-47 Water St
General Information
Standard status
Active
Size
6,706 SF
Total Parking Spaces
12
Property subtype
Multi-Family
Zoning
BUSB
Net Operating Income
$106,500
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$13,556
Building Details
Building Size
6,706 SF
Year Built
1900
Buildings
4
Stories
8
Listing Agency:
HomeSmart First Class Realty
(508) 927-1211
Listed By:
Jeanne Hickey
(781) 856-7077
Source:
Churchillprop
Added: Apr 27
Changed: Oct 10
Last Checked: Oct 14 at 9:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HomeSmart First Class Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property comprises four separate buildings with residential accommodations and an attached business space. The improvements date to 1900, and the property measures 6,706 square feet. Newly paved parking provides off-street spaces for occupants and visitors. The site is zoned BUSB, supporting its residential and business-oriented configuration.
The property is located near public transportation and train service, with major highways reachable within minutes. Quincy Center provides nearby shopping, dining, and other amenities, while Faxon Park and its trail system are approximately 0.5 miles away. Preparation and associated expenses for condominium conversion have been completed, with the conversion to transfer at closing.
The property is located near public transportation and train service, with major highways reachable within minutes. Quincy Center provides nearby shopping, dining, and other amenities, while Faxon Park and its trail system are approximately 0.5 miles away. Preparation and associated expenses for condominium conversion have been completed, with the conversion to transfer at closing.
Key Highlights
- Four separate buildings with residential space and an attached business component
- 6,706 square feet across the property
- Newly paved parking provides off‑street spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$128,152
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,563,040
$2.6M
Cap Rate 7%
$1,830,743
$1.8M
Cap Rate 9%
$1,423,911
$1.4M
Market Conditions
NOI Build-Up for 6,706 SF
Gross rent
$225.3K $33.60/SF
− Vacancy
−$20.3K −$3.02/SF
EGI
$205.0K $30.58/SF
− OpEx
−$76.9K −$11.47/SF
NOI
$128.2K $19.11/SF
Area
Quincy, MA
Vacancy
9.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,563,040
Cap Rate 7%
$1,830,743
Cap Rate 9%
$1,423,911
Alternative Uses
Best Use
Mixed Use
$1.83M
$1.60M – $2.14M
NOI $128,152 @ 7.0% cap · market cap 3.33%
Second Best
Apartment 5plus
$1.49M
$1.30M – $1.73M
NOI $104,010 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$3.96M
$3.47M – $4.62M
NOI $277,467 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,735
Businesses Nearby
Explore this area
Business Placement
Demographics for 02169, MA
62,140
Population
30,198
Households
2.1
Avg Household Size
39
Median Age
48%
College-Educated
92%
High-School Grad
12.1 sq mi
ZIP Area
5,136
Density / Sq Mi
$92,080
Median Household Income
$60,166
Median Earnings
$1,975
Median Rent
$552,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Four-building residential property with an attached business component, paved parking, and completed condominium conversion preparation.
Where is this multifamily property located?
The property is located at 39-47 Water St Quincy, MA.
What is the asking price?
The asking price for this property is $3,849,999.
What are key features of this property?
This property features: Four separate buildings with residential space and an attached business component; 6,706 square feet across the property; Newly paved parking provides off‑street spaces
