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    395 Water St Fitchburg, MA 01420

    Sponsored
    For Sale
    $250,000

    Prime Mixed-Use Property, Huge Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    341
    This unique 0.08-acre property at 395 Water St, Fitchburg, MA, presents a remarkable redevelopment opportunity. The former fire station, currently out of service, is primed for a new owner to complete its transformation. Extensive restoration work has already been undertaken, including a brand new rubber roof (2020), repointing of the entire structure, and the complete re-framing and roofing of the hose tower with synthetic slate (2020). All windows have been replaced with new vinyl units (approximately 2020). A new gas heating system is in place, and a new AC unit is on-site, ready for installation. Engineering plans, expired building permits, and an expired special permit for mixed-use development are available. The original plan envisioned a first-floor contractor's office/storage facility and a modern two-bedroom, one-bathroom apartment on the second floor, complete with a laundry room. This exceptional offering also includes the adjacent vacant lot at 412 Water St., adding significant value and potential. The property is priced at $250,000 and offers a rare chance to acquire a substantial building with significant pre-existing renovations, ready for completion or a fresh vision. This is an ideal investment for contractors, developers, or investors seeking a unique and high-potential project in a desirable location.

    Property Features for 395 Water St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    3,485 SF

    Building Details

    Year Built
    1900
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fitchburg
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.79082
    Latitude
    42.57491

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    FAQs

    What type of property is this?
    Commercial real estate - Prime Mixed-Use Property, Huge Potential
    Where is this commercial real estate located?
    The property is located at 395 Water St Fitchburg, MA.
    What is the asking price?
    The asking price for this property is $250,000.
    (413) 282-8080
    Request Owner's contact information
    395 Water St Fitchburg, MA 01420
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    Fitchburg, MA 01420
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    Realmo Value Estimation

    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.

    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.

    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
    395 Water St Fitchburg, MA 01420
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