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    South St Fitchburg, MA 01420

    Sponsored
    For Sale
    $950,000

    Former School & Dorm: Huge Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    341
    This unique 49,500 square foot property in Fitchburg, MA presents a compelling redevelopment opportunity. The site encompasses a substantial former school building (approximately 36,900 square feet) and a separate residence hall (approximately 12,600 square feet) situated on a 0.73-acre lot. The property's versatile layout lends itself to a variety of uses, making it ideal for conversion into a multi-family residential complex, potentially exceeding 50 apartments, or a modern office space. The existing residence hall could be repurposed as additional apartments or a rooming house, further enhancing the property's income potential. The building boasts attractive amenities including a full kitchen, a sizable lecture hall, and a basketball court, offering unique possibilities for future tenants or occupants. Its strategic location offers convenient access to major transportation routes, being approximately one mile from Route 2 and a quarter-mile from Route 12. Furthermore, its proximity to Worcester (25 minutes) and Boston (approximately one hour) provides excellent connectivity to a larger metropolitan area. The property is situated within an Opportunity Zone, presenting additional financial incentives for qualified investors. This is a rare chance to acquire a large-scale property with significant upside in a location experiencing high demand for housing. The substantial size and existing infrastructure of the buildings offer a solid foundation for a successful redevelopment project.

    Property Features for South St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    31,799 SF

    Building Details

    Year Built
    1953
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Fitchburg
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.79809
    Latitude
    42.58075

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    FAQs

    What type of property is this?
    Commercial real estate - Former School & Dorm: Huge Potential
    Where is this commercial real estate located?
    The property is located at South St Fitchburg, MA.
    What is the asking price?
    The asking price for this property is $950,000.
    (978) 537-5100
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    South St 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.

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    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
    South St Fitchburg, MA 01420
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