246.1 Marketstreet Lowell, MA 01852
- Warehouses
- 20,928 SF
- 1.12 lot acres
Current Use by Public Records
- Warehouses
Property Details for 0 246.1 Marketstreet
- Lot size
- 1.12 lot acres
- Property size
- 20,928 SF
- Property type
- Warehouses
- Property subtype
- Office Properties & Spaces
Description
This exceptional Lowell, MA mixed-use property, located at 246.1 Market Street, presents a unique redevelopment opportunity within the historic Boott Mill Complex. The 20,928 square foot property sits on 1.12 acres and comprises three distinct structures: the Turbine Building, Boiler House, and Coal Pocket. Currently configured as 63 units across five stories, the property offers significant potential for residential conversion. Phase 1, encompassing the Turbine Building, has received city approvals for 23 residential units and is ready for permitting, with demolition complete and utilities connected. Phase 2, involving the Boiler House and Coal Pocket, could accommodate an additional 40 units, subject to permitting. Strategically located in Lowell's Hamilton Canal District, this property benefits from proximity to a new Federal Courthouse, public transportation (a 5-minute walk to the Lowell T station), and significant ongoing infrastructure improvements. The Hamilton Canal District, boasting over 2,000,000 square feet of mixed-use development, is experiencing substantial revitalization, making this a prime investment opportunity. The property's classification includes Executive Office and Warehouse subtypes, reflecting its adaptable nature and potential for diverse uses.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lowell
- County
- Middlesex
- State
- Massachusetts
- Longitude
- -71.3149
- Latitude
- 42.6455
