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114 Spring St 0.95 Acres of Industrial Land in Everett, MA 02149
INVESTMENT HIGHLIGHTS
- Strategic Urban Infill Location
- Located in an Opportunity Zone
- Institutional Submarket
- Supportive Zoning & Clear Permitting Path
- Low Inclusionary Rent Requirement
- Amenity Rich Neighborhood
EXECUTIVE SUMMARY
Cushman & Wakefield’s Multifamily Advisory Group is pleased to present the opportunity to acquire 114 Spring Street, a transit oriented multifamily development opportunity located in Everett, Massachusetts, just minutes north of Downtown Boston. The Property is prime for multifamily development with conceptual designs calling for 170 studio and one-bedroom apartment units, 126 garage parking spaces, 7,500 square feet of amenity space and 2,200 square feet of retail in a seven-story building (5 levels of wood framing over a 2-level steel podium).
Surrounded by significant economic drivers and a host of amenity offerings including Encore Boston Harbor, Cambridge Crossing, and Assembly Square, the Property offers an exceptional opportunity to capitalize on the high demand for housing in an urban in-fill location. Residents are moving to Everett to take advantage of the relative discount to downtown living, proximity to work, rapidly improving amenities and commutability of the location.
The Property is located just ½ mile from the Chelsea MBTA Silver Line (SL3) Station, which provides direct access to Boston’s Seaport District, South Station and Logan International Airport (6 minutes). Chelsea Station also features a Commuter Rail stop that provides immediate access to Boston’s North Station. Chelsea Station is the only transit hub in Greater Boston that provides both South Station (Silver Line) and North Station (Commuter Rail) connectivity. 114 Spring
Street also has immediate access to Route 16 and is four minutes from Route 1, with connections to I-93, I-90, and I-95.
Surrounded by significant economic drivers and a host of amenity offerings including Encore Boston Harbor, Cambridge Crossing, and Assembly Square, the Property offers an exceptional opportunity to capitalize on the high demand for housing in an urban in-fill location. Residents are moving to Everett to take advantage of the relative discount to downtown living, proximity to work, rapidly improving amenities and commutability of the location.
The Property is located just ½ mile from the Chelsea MBTA Silver Line (SL3) Station, which provides direct access to Boston’s Seaport District, South Station and Logan International Airport (6 minutes). Chelsea Station also features a Commuter Rail stop that provides immediate access to Boston’s North Station. Chelsea Station is the only transit hub in Greater Boston that provides both South Station (Silver Line) and North Station (Commuter Rail) connectivity. 114 Spring
Street also has immediate access to Route 16 and is four minutes from Route 1, with connections to I-93, I-90, and I-95.
PROPERTY FACTS
| Sale Type | Investment | Proposed Use | Commercial |
| No. Lots | 1 | Total Lot Size | 2.48 AC |
| Property Type | Land | No. Stories | 2 |
| Property Subtype | Industrial | Opportunity Zone |
Yes
|
| Zoning | C - Commercial | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Industrial |
| Proposed Use | Commercial |
| Total Lot Size | 2.48 AC |
| No. Stories | 2 |
| Opportunity Zone |
Yes |
| Zoning | C - Commercial |
1 LOT AVAILABLE
Lot
| Lot Size | 0.95 AC |
| Lot Size | 0.95 AC |
1 1
Walk Score®
Very Walkable (82)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,121,200 | |
| Land Assessment | $3,603,200 | Total Assessment | $4,724,400 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$3,603,200
Improvements Assessment
$1,121,200
Total Assessment
$4,724,400
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114 Spring St
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