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    198 Parkingway Quincy, MA 02169

    • Commercial real estate
    • 0.11 lot acres
    For Lease
    View listing
    $6,000 /Mo
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0543110
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 198 Parkingway

    Year built
    1950
    Lot size
    0.11 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional freestanding building at 198 Parkingway, Quincy, MA, presents a rare opportunity for investors and business owners. Situated on a 0.11-acre lot in the heart of downtown Quincy's redevelopment zone, this property enjoys unparalleled accessibility. Its central location offers easy access to major transportation arteries, including Routes 3 and 93, and is within walking distance of the Quincy Center Red Line MBTA station, ensuring convenient commutes for employees and customers. Currently used for educational purposes, the building offers significant potential for a variety of service businesses or retail ventures. The building's size is not specified, but its prime location within a rapidly transforming area makes it an attractive investment. Quincy's revitalization is evident in the hundreds of millions of dollars in public and private investment, creating a dynamic and thriving environment. This strategic location, coupled with the building's versatility, positions this property for substantial future growth and return on investment. The asking price is $1,179,000. This is a unique chance to acquire a property in a high-demand area poised for continued expansion and development. Don't miss this chance to be part of Quincy's exciting transformation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Quincy
    County
    Norfolk
    State
    Massachusetts
    Longitude
    -71.00308
    Latitude
    42.24478

    Comparable in this City

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      Quincy Commercial Condo - Prime Location

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      Office Units Package For Sale

      Three office units available near Quincy Center.
      1372 403, Quincy, MA 02169
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    • $999,000

      Quincy Multi-Family Residence

      Multi-family residence in Quincy, ready for immediate cashflow.
      62-64 Lawn Ave, Quincy, MA 02169
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    • New
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      Quincy Multifamily Property For Sale

      Four-family property in West Quincy with strong rental history.
      14 Arthur Ave, Quincy, MA 02169
      View Details

    Similar Nearby for Sale

    • $675,000
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      High-Visibility Quincy Commercial Building

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      761 Southern Artery, Quincy, MA 02169
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      125 SF

      Quincy Office Space: Prime Location

      Modern Office, All Utilities Included
      21 Mayor Thomas J Mcgrath Hwy, Quincy, MA 02169
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    • $139,900

      Quincy Commercial Condo - Prime Location

      Versatile Office Space, Highway Access, All Utilities Included
      1261 Furnace Brook Pkwy, Quincy, MA 02169
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      2,202 SF

      Office Units Package For Sale

      Three office units available near Quincy Center.
      1372 403, Quincy, MA 02169
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    • $999,000

      Quincy Multi-Family Residence

      Multi-family residence in Quincy, ready for immediate cashflow.
      62-64 Lawn Ave, Quincy, MA 02169
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    • New
      $1,099,000
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      Quincy Multifamily Property For Sale

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      View Details

    Similar Nearby for Lease

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      2,216 SF

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      2,200 SF

      Office Space in Quincy, MA

      Office space available for lease in Quincy, Massachusetts.
      500 Congress St, Quincy, MA 02169
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      4,752 SF

      Class A Office Space, Quincy

      Premier office space in Crown Colony Office Park, Quincy, MA.
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    • $31 SF/Yr
      240,000 SF

      Class A Office Space Available

      Premium office building with efficient layout and covered parking.
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      2,150 SF

      Quincy Office Space Available

      Office space available for rent in Quincy, Massachusetts.
      186-192 Willard St, Quincy, MA 02169
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    • Contact for pricing
      2,484 SF

      Quincy Flex/Industrial Space Available

      2,484 SF flex/industrial space for rent in Quincy, MA.
      30 Morrison St, Quincy, MA 02169
      View Details
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    198 Parkingway
    Quincy, MA 02169
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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