Mixed-Use Multi-Family with Development
For Sale
$2,250,000
63-69 Putnam St, Winthrop, MA 02152
Four-unit mixed-use building with stable in-place NOI and Board of Appeals-approved plan for a new 12-unit building.
Property Size10,000 SF
Price / SF$225
Days on Market182
Property Features for 63-69 Putnam St
General Information
Standard status
Active
Size
10,000 SF
Total Parking Spaces
26
Property subtype
Multi-Family
Zoning
CBD
Net Operating Income
$54,000
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$12,674
Building Details
Building Size
10,000 SF
Year Built
2027
Stories
3
Tenancy
Multi
Listing Agency:
Leading Edge Real Estate
(781) 979-0100
Listed By:
The Bill Butler Group
(617) 771-9376
Source:
Churchillprop
Added: Apr 22
Changed: Oct 6
Last Checked: Oct 19 at 3:40AM
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 Leading Edge Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The Breakwater is a mixed-use multi-family property currently operating as a four-unit building with stable in-place NOI of $71,300. The site also has a Board of Appeals-approved plan to construct a new 12-unit building with podium parking beneath, all on one contiguous parcel.
Located in Winthrop, Massachusetts, the property is described as steps from the harbor and in the middle of downtown Winthrop. The seller notes a 5–10 minute commute to Boston Logan Airport, along with quick access to the MBTA Blue Line and ferry service to downtown Boston.
Located in Winthrop, Massachusetts, the property is described as steps from the harbor and in the middle of downtown Winthrop. The seller notes a 5–10 minute commute to Boston Logan Airport, along with quick access to the MBTA Blue Line and ferry service to downtown Boston.
Key Highlights
- Cash‑flowing four‑unit mixed‑use building with stable in‑place NOI of $71,300.
- Board of Appeals‑approved plan to construct a new 12‑unit building with podium parking beneath.
- Mixed‑use development and income strategy on one site.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$190,512
Cap Rate
8.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,810,240
$3.8M
Cap Rate 7%
$2,721,600
$2.7M
Cap Rate 9%
$2,116,800
$2.1M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$288.0K $28.80/SF
− Vacancy
−$15.8K −$1.58/SF
EGI
$272.2K $27.22/SF
− OpEx
−$81.6K −$8.16/SF
NOI
$190.5K $19.05/SF
Area
Suffolk County, MA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,810,240
Cap Rate 7%
$2,721,600
Cap Rate 9%
$2,116,800
Alternative Uses
Best Use
Multifamily LT 5
$2.72M
$2.38M – $3.18M
NOI $190,512 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$2.48M
$2.17M – $2.90M
NOI $173,712 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$5.92M
$5.18M – $6.91M
NOI $414,397 @ 7.0% cap · market cap 18.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
733
Businesses Nearby
Explore this area
Business Placement
Demographics for 02152, MA
19,316
Population
8,467
Households
2.3
Avg Household Size
44
Median Age
43%
College-Educated
95%
High-School Grad
1.7 sq mi
ZIP Area
11,362
Density / Sq Mi
$106,357
Median Household Income
$68,062
Median Earnings
$1,909
Median Rent
$606,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit mixed-use building with stable in-place NOI and Board of Appeals-approved plan for a new 12-unit building.
Where is this quadplex located?
The property is located at 63-69 Putnam St Winthrop, MA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Cash‑flowing four‑unit mixed‑use building with stable in‑place NOI of $71,300.; Board of Appeals‑approved plan to construct a new 12‑unit building with podium parking beneath.; Mixed‑use development and income strategy on one site.
