6 Depot St Grafton, MA 01519

Property Details for 6 Depot St

Year built

1860

Lot size

17.90 lot acres

Property size

118,000 SF

Property type

Commercial real estate

Description

This exceptional multifamily redevelopment opportunity is located in Grafton, Massachusetts' historic district at 6 Depot Street. The property encompasses a substantial 17.9 acres and includes an existing 118,000 square foot mill building, ideally suited for renovation into multifamily housing. The building is situated within the VMU (Village Mixed-Use) zoning district, facilitating a streamlined approval process for multifamily projects. The expansive lot offers ample space for additional units, parking, and amenities, allowing for comprehensive project planning and significant expansion potential. The existing structure is demolition-ready, optimizing the renovation process for apartment retrofitting. This prime location on Route 122 provides convenient access to essential services, transportation hubs, and recreational facilities. The property benefits from Grafton's high-density area and steady population growth, creating a strong demand for housing and promising sustained rent growth. This redevelopment project is eligible for the Massachusetts Historic Rehabilitation Tax Credit, offering up to 20% in state tax credits on renovation expenses, and streamlined approval through Chapter 40B, easing navigation of local zoning regulations. This presents a rare opportunity to revitalize a historic district while achieving attractive returns and contributing to the community's growth. Built in 1860, the property offers a unique blend of historical charm and modern development potential. The substantial square footage of the existing building provides ample space for numerous units, making it an attractive investment opportunity.

Location Insight

City

Grafton

County

Worcester

State

Massachusetts

Longitude

-71.6792

Latitude

42.1993