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15 Whitman Street - Historic Mill Complex for Redevelopment, East Bridgewater, MA

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15 Whitman Street - Historic Mill Complex for Redevelopment

East Bridgewater, MA 02333 - Route 3 South Submarket


Property Type:Specialty Sub Type:Self-Storage Status:Existing , Renov 1998 Year Built:1880
Stories:- Typical Floor:- Building Size:112,000 SF
For Sale Price:$1,000,000 Price/SF:$8.93
Cap Rate:-
112,000 SF is available to occupy upon purchase.


Investment Highlights:

• Existing Self Storage Facility with Upside Potential
• Opportunities for Re-Purposing to another Use
• Historical Tax Credits Maybe Possible
• Attractive 1840's Manufacturing Building
• Unique Property Features including the Satucket River and 8+ acres

Investment Overview:
This value-add opportunity is presently operating as a self-storage facility of 19,085 net rentable square feet in 246 units. The current business is housed in a multi-level 112,000+'- SF mill complex, parts of which were originally constructed in the 1840s. An opportunity exists to maintain the self-storage business and its cash flow while seeking permits and approvals to redevelop the property to other uses such as multifamily, senior housing, office or a mixed use project. The most significant building on the site is red brick with large timber frame construction. There is significant upside potential both in improved management of the self-storage business as well as expansion of self-storage units in the existing shell space of the mill building which has been sand blasted, cleaned and had windows replaced. After extensive research and planning the Commonwealth of Massachusetts will be removing the dam located on the property that spans the Satucket River near the intersection of Whitman and Plymouth Streets. Please see the reports available in the Due Diligence materials for additional information as to the scope and timing of the project.
East Bridgewater is 25 miles south of Boston. Within a 5 mile radius of the property there is a total population of 87,463 in 29,276 households with an average household income of $81,401.


Sale Notes:
Price Reduction!! Sale price $1,000,000

Property U-Store It East Bridgewater
Property Description: 112,000 SF Self-storage property in East Bridgewater, MA
Occupancy: 78.0%


Investment Highlights:

• Existing Self Storage Facility with Upside Potential
• Opportunities for Re-Purposing to another Use
• Historical Tax Credits Maybe Possible
• Attractive 1840's Manufacturing Building
• Unique Property Features including the Satucket River and 8+ acres

Investment Overview:
This value-add opportunity is presently operating as a self-storage facility of 19,085 net rentable square feet in 246 units. The current business is housed in a multi-level 112,000+'- SF mill complex, parts of which were originally constructed in the 1840s. An opportunity exists to maintain the self-storage business and its cash flow while seeking permits and approvals to redevelop the property to other uses such as multifamily, senior housing, office or a mixed use project. The most significant building on the site is red brick with large timber frame construction. There is significant upside potential both in improved management of the self-storage business as well as expansion of self-storage units in the existing shell space of the mill building which has been sand blasted, cleaned and had windows replaced. After extensive research and planning the Commonwealth of Massachusetts will be removing the dam located on the property that spans the Satucket River near the intersection of Whitman and Plymouth Streets. Please see the reports available in the Due Diligence materials for additional information as to the scope and timing of the project.
East Bridgewater is 25 miles south of Boston. Within a 5 mile radius of the property there is a total population of 87,463 in 29,276 households with an average household income of $81,401.

Auctioneer Licensing Information
Ten-X Scott Reid RE Brkr 422300
Mark Buleziuk Auctioneer 2788

Sperry Van Ness
Connie M Neville
(781) 696-6241

  
SVN - Commercial Realty
Nick Malagisi
(716) 633-9601




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