Mixed-Use Development with Approved 12-Unit
63-69 Putnam Street Winthrop, MA 02152
63-69 Putnam Street, Winthrop, MA, 02152
$2,250,000
For Sale
$2,250,000
Existing four-unit mixed-use building with approved plan for a new 12-unit structure and podium parking.
Property Size10,000 SF
Price / SF$225
Days on Market49
Property Features for 63-69 Putnam Street
General Information
- Standard status
- Active
- Size
- 10,000 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 2027
Listing agency
Leading Edge Real Estate
Listed by
The Bill Butler Group
(617) 696-6100
Source
Kelleyrege
Added: Jun 4 Updated: Jul 21 at 7:18PM Checked: Jul 22 at 6:32AM
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
Investment Insights
Based on property information with market context.
Located at 63–69 Putnam Street in Winthrop, Massachusetts, this for-sale development opportunity includes an existing four-unit mixed-use building and a Board of Appeals-approved plan to construct a new 12-unit building with podium parking beneath, all on one site. The current property is described as generating stable in-place NOI of $71,300 annually.
The seller describes the site as being steps from the harbor, in the middle of downtown Winthrop, with access to the MBTA Blue Line and ferry service for downtown Boston. The remarks also note a 5–10 minute commute to Boston Logan Airport.
All dimensions, square footage, parking spaces, and building plans are stated as estimates and should be treated as marketing information only. Buyers are advised to complete all due diligence given the development nature of the offering.
The seller describes the site as being steps from the harbor, in the middle of downtown Winthrop, with access to the MBTA Blue Line and ferry service for downtown Boston. The remarks also note a 5–10 minute commute to Boston Logan Airport.
All dimensions, square footage, parking spaces, and building plans are stated as estimates and should be treated as marketing information only. Buyers are advised to complete all due diligence given the development nature of the offering.
Key Highlights
- Four‑unit mixed‑use building currently generating $71,300 net annual income (NOI).
- Board of Appeals‑approved plan to construct a new 12‑unit building on the same site.
- Approved design includes podium parking beneath the new 12‑unit building.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $288.0k | $28.80 |
| − Vacancy | −$15.8k | −$1.58 |
| EGI | $272.2k | $27.22 |
| − OpEx | −$81.6k | −$8.16 |
| NOI | $190.5k | $19.05 |
10,000 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Existing four-unit mixed-use building with approved plan for a new 12-unit structure and podium parking.
Where is this quadplex located?
The property is located at 63-69 Putnam Street 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: Four‑unit mixed‑use building currently generating $71,300 net annual income (NOI).; Board of Appeals‑approved plan to construct a new 12‑unit building on the same site.; Approved design includes podium parking beneath the new 12‑unit building.
