4-12 Parker St - Apartments FOR SALE


Gardner, MA 01440
$1,400,000 USD
978-390-1949
4-12 Parker St, Gardner, MA for Sale
$1,400,000 USD
Apartments - FOR SALE
1/34
null | Request Cap Rate

4-12 Parker St
Gardner, MA 01440


HIGHLIGHTS

  • Approved 16-unit residential + 4 commercial plan, by-right residential redevelopment – no variance required
  • Substantial framing complete; electrical equipment on site
  • Located within a federally designated Opportunity Zone tract
  • Historic brick-and-beam building with elevator already in place
  • Pro forma gross scheduled income: $398,400
  • Pro forma stabilized NOI: $278,791

OVERVIEW

4-12 Parker Street offers the next developer the opportunity to acquire and complete a substantially advanced, by-right mixed-use redevelopment in the heart of Downtown Gardner. The approved program combines 16 residential apartments across roughly 13,000+ square feet with four street-level commercial spaces, positioning the project to participate in both downtown housing demand and neighborhood-serving commerce. Because the residential program is permitted by right, the project did not require a zoning variance or discretionary zoning relief, and the property sits within one of Gardner's federally designated Opportunity Zone tracts in the Downtown Urban Renewal Plan Area. Meaningful progress has already been made: the interior is substantially framed, much of the electrical equipment is already on site, and National Grid has recently installed the transformer infrastructure down the road that the project is expected to tie into. The building envelope has also advanced, with a new roof, new windows, and exterior siding work completed or underway. Substantial work remains, but the next owner is stepping into an active, de-risked redevelopment rather than a raw concept.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$108 USD /SF

# OF UNITS

16

PRICE/UNIT

$87,500

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

C

APN/PARCEL ID

GARD M:M22 B:5 L:22

ASK ABOUT THIS PROPERTY

Sonia ProvostThe Candor Investment Group | eXp RealtyMore Info
978-390-1949

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Sonia ProvostThe Candor Investment Group | eXp RealtyMore Info
978-390-1949

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.