246.1 Market St Lowell, MA 01852
Unique opportunity to redevelop historic mill buildings into residential apartments.
Property size:
20,928 SFProperty Features for 246.1 Market St
General Information
- Size
- 20,928 SF
Source:
Corfac
Listing Agent: Chloe Stubblebine
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Boott Mill Redevelopment Opportunity
The property at 246.1 Market Street presents a redevelopment opportunity within the Boott Mill Industrial Complex in Lowell, MA. This complex features mixed-use residential and commercial office spaces. Situated in the Hamilton Canal District, the property is part of an area undergoing significant revitalization, with over 2,000,000 square feet of mixed-use development planned, including commercial and residential spaces. The location is near the new Federal Courthouse and offers accessibility to public transportation, with a walking distance of approximately 5 minutes to the Lowell T station. The property includes approximately 1 acre of land and consists of three structures: the Turbine Building, the Boiler House, and the Coal Pocket. These buildings offer the potential for approximately 60 residential apartments. Phase One, which is fully permitted, encompasses the Turbine Building and includes 23 residential units across 20,928 square feet over five levels. With demolition complete and utilities brought to the building, Phase 1 is ready for development. Phase 2 comprises the Coal Pocket and Boiler buildings, which are in "As-Is" condition at the time of sale, for the development of an additional 40 units. The Hamilton Canal District is considered the gateway to downtown Lowell, benefiting from traffic and infrastructure improvements.
Location Intelligence
Current Use by Public Records
Commercial land
Map
- City
- Lowell
- County
- Middlesex
- State
- Massachusetts
- Longitude
- -71.2957
- Latitude
- 42.6317
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Unique opportunity to redevelop historic mill buildings into residential apartments.
Where is this apartment building located?
The property is located at 246.1 Market St Lowell, MA.
What are key features of this property?
This property features: - Fully-permitted Phase 1 (Turbine Building) ready for development with **23 residential units (20,928 SQFT) over 5 levels**, including completed demolition and utilities.; - Opportunity to redevelop one of the last Mill buildings in the Original Boott Mill Complex.; - Located in the Hamilton Canal District, a 2,000,000+ square foot mixed-use development area undergoing significant revitalization.