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How Much is the MBTA Parking Garage in Braintree Worth?

More real estate facts from Braintree Patch and Patriot Properties.

It is one of the most popular destinations in Braintree.

No, not the South Shore Plaza, Thayer Public Library or one of the town's locally-owned restaurants.

The MBTA garage at Union and Pearl streets, of course. With 1,322 parking spaces and no vacancies by 7 a.m. most weekdays, the garage can be harder to get into than a night club, and may be just as valuable.

A 2012 assessment put the property's worth at more than $22 million, according to records kept by Patriot Properties, which stores data from the Board of Assessors on all real estate in Braintree, along with a number of other towns.

The 6.5-acre site is owned by the Massachusetts Bay Transportation Authority, which also owns a number of other properties around Braintree, including land on Quincy Avenue, Allen Street and more parcels on Union Street.

Another MBTA-owned Union Street property (Patriot Properties does not include a specific address) is listed at 15 acres with a value of $2.4 million.

Average weekday availability at the Braintree garage is less than 1 percent, according to the MBTA's statistics. It also feature 30 bike spaces and 22 handicap spaces.

The building itself is worth nearly $6 million, according to Patriot Properties, while the land is valued at $16.2 million. It opened in 1980.

Steve Meuse October 31, 2012 at 07:34 PM
That obviously means they should be charging more to park there.

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