43 Main Street Lakeville
Rare Development Site w/ Immediate Scale – 43 Main St, Lakeville
Marketing description
Newmark has been exclusively engaged to market 43 Main Street in Lakeville, Massachusetts; a large-scale development opportunity comprising approximately 49 acres of land, strategically located within one-half mile of Interstate 495. The site benefits from site plan approval and MEPA approval, significantly mitigating entitlement risk and allowing a developer to proceed with confidence toward construction.
The approved site plan supports a diversified, multi-product residential program totaling 458 units, creating multiple exit strategies and capital stack flexibility. The development includes 200 multifamily units under Chapter 40B (wood framed and surface parked), complemented by 68 for-sale townhomes (55+ and 100% market rate), as well as 190 senior housing units (AL/IL/MC and 100% market rate). This mix allows an investor or developer to capitalize on strong demand drivers across both rental and ownership housing segments, while also addressing the region’s growing senior housing needs. Investors also have the opportunity to seek alternative entitlements for the site based on investor preference, and the underlying zoning allows for the development of approximately 400k SF of office/medical office/R&D; allowing for multiple paths to value creation. The entire site is designed with surface parking, resulting in lower development costs and enhanced construction efficiency relative to structured parking alternatives. The property is situated in a strong suburban submarket where Class-A multifamily rents average approximately $3.00 per square foot, supporting attractive projected revenue and long-term value creation.
This offering represents a rare opportunity to acquire a large, site plan approved development with immediate scale, highway accessibility, and multiple development paths. The combination of entitlements in place, favorable market fundamentals, and flexible program composition positions the asset as an ideal opportunity for multifamily, mixed-use, and senior housing developers, as well as institutional and private capital seeking to deploy capital into a high-barrier-to-entry suburban Boston market. Large-Scale, Multi-Product Residential Program Approved for approximately 458 total units, allowing for diversification across rental, for-sale, and senior housing product types: 200 Multifamily Units (Chapter 40B) 68 For-Sale Residential Units (55+ and 100% Market Rate) 190 Senior Housing Units (Independent Living, Assisted Living, and Memory Care).
Please visit https://properties.nmrk.com/43-main-street-lakeville-sale ….. for more information.
Investment highlights
Site Plan and MEPA Approved Development Site
The ±49-acre site benefits from Site Plan Approval and MEPA approval, significantly reducing entitlement risk and accelerating development timelines.
Immediate Highway Access
Strategically located within one-half mile of Interstate 495, providing superior regional connectivity and commuter access to Greater Boston and surrounding employment centers.
Multiple Exit Strategies
The flexible development program supports phased execution, partial sell-offs, or joint-venture structures, appealing to a broad buyer pool including multifamily, senior housing, and mixed-use developers.
Attractive Market Fundamentals
The surrounding submarket exhibits strong rental performance with Class-A multifamily rents averaging approximately $3.00 per square foot, supporting compelling revenue projections and long-term value growth.
Cost-Efficient Site Design
The entire development is planned with surface parking, eliminating the need for structured parking and materially lowering construction costs and execution risk.
Demographic Tailwinds
The inclusion of senior housing and age-restricted for-sale units directly aligns with favorable demographic trends, including a growing 55+ population and increasing demand for market-rate senior living options.
Institutional-Quality Scale
The size and scope of the project provide a rare opportunity to deliver critical mass in a high-barrier suburban market, attractive to both institutional and well-capitalized private developers.
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