447 Water StFitchburg, MA 01420

Property Details for 447 Water St

Year built

1965

Lot size

0.14 AC

Property size (Sq ft)

1,092 SF

Zone code

NB

Property type

Retail properties

Property subtype

Auto shops

APN

FITC M:0095 B:0059 L:0

APU

FITCM0095B0059L0

Description

This exceptional commercial property located at 447 Water Street in Fitchburg, Massachusetts, presents a remarkable investment opportunity for owner-operators or investors seeking a prime location. Situated on a 0.14-acre lot, the building boasts a two-bay garage, ample office space, and has undergone a complete renovation. Improvements include a brand-new roof, a high-efficiency forced hot air heating system, and thorough spray foam insulation, significantly enhancing energy efficiency and reducing operational costs. The property also features a newly paved area, adding to its overall appeal and functionality. Currently utilized as a Class II used car dealership and auto repair facility, this versatile property offers endless possibilities for a wide range of commercial uses. The strategic location and recent renovations make this a truly exceptional opportunity for those seeking a profitable venture in a thriving area. The asking price is $600,000. The square footage is not currently available. Serious inquiries are encouraged to explore the full potential of this remarkable property.

• CAP approach

  CAP return

  Valuation

  6%

  $265,394

  6.5%

  $244,979

  7%

  $227,481

• Comparable approach

  Method

  Valuation

  Relative Method

  $359,555

  Geo Method

  $359,555

• Alternative Use

  Use

  Valuation

  Residential

  $206,649

  Hospitality

  $189,289

  Educational

  $157,487

  Medical

  $162,903

  Retail

  $244,979

Location Insight

City

Fitchburg

County

Worcester

State

Massachusetts

Latitude

42.574

Longitude

-71.7901

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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