395 Water St, Fitchburg, MA 01420-7316
This unique 0.08-acre property at 395 Water St, Fitchburg, MA, presents a remarkable redevelopment opportunity. The former fire station, currently out of service, is primed for a new owner to complete its transformation. Extensive restoration work has already been undertaken, including a brand new rubber roof (2020), repointing of the entire structure, and the complete re-framing and roofing of the hose tower with synthetic slate (2020). All windows have been replaced with new vinyl units (approximately 2020). A new gas heating system is in place, and a new AC unit is on-site, ready for installation. Engineering plans, expired building permits, and an expired special permit for mixed-use development are available. The original plan envisioned a first-floor contractor's office/storage facility and a modern two-bedroom, one-bathroom apartment on the second floor, complete with a laundry room. This exceptional offering also includes the adjacent vacant lot at 412 Water St., adding significant value and potential. The property is priced at $250,000 and offers a rare chance to acquire a substantial building with significant pre-existing renovations, ready for completion or a fresh vision. This is an ideal investment for contractors, developers, or investors seeking a unique and high-potential project in a desirable location.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
NB · Fitchburg, MAFitchburg. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.