85 South St - Manufacturing FOR SALE


West Warren, MA 01092
$8,200,000 USD
413-599-3491
85 South St, West Warren, MA for Sale
$8,200,000 USD
Manufacturing - FOR SALE
1/23
null | Request Cap Rate

NEW


85 South St
West Warren, MA 01092


HIGHLIGHTS

  • Spanning nearly 92 acres with 592,000 square feet of space, Wright's Mill offers vast redevelopment potential in the heart of Central Massachusetts.
  • Zoned within the Mill Conversion Overlay District, the site supports various uses, from industrial to residential, office, retail, and commercial.
  • Adaptive-reuse of a 15-building campus dating back to the 1800s, which is historic and listed on the Massachusetts Historical Commission Registry.
  • Eligible for public incentives, historic tax-credits, grants, and low-interest loans, with similar projects having successfully leveraged these tools.
  • Located between Worcester and Springfield, the property has direct access to Route 67 and is 12-minutes from the Massachusetts Turnpike.
  • With over 66,000 high-income residents within 10 miles, the area offers strong demographics and a local government that supports redevelopment.

OVERVIEW

Take charge of this incredible redevelopment opportunity available in Worcester County. The Wright's Mill Complex illuminates the history of manufacturing in West Warren in Central Massachusetts, stretching from the early 1800s to the 2000s. Comprising 15 buildings across six separate parcels, the development totals approximately 592,000 gross square feet on 92 acres. The buildings are generally well-maintained and were once part of a bustling mill complex that produced cotton fabric, parachutes for World War II, and ribbons over the years. A mix of residential and forested areas and the Quaboag River to the north border the property. The mill complex and several of its buildings are listed on the Massachusetts Historic Commission's Inventory of Historic and Archaeological Assets of the Commonwealth (Massachusetts Historical Commission). Mill Conversion Overlay District (MCOD) zoning offers redevelopment flexibility that includes, but is not limited to, multifamily residential, light manufacturing, warehousing, office use, multi-tenant retail, arts, and institutional needs. Engaged residents and friendly local government surround the mill. The redevelopment of Wright's Mill could benefit from a range of public funding and financing tools, including state and federal programs successfully leveraged by similar projects. These programs vary in eligibility, with some designed for private developers and others reserved for public entities. Options to assist with reducing the cost of redevelopment include 40% historic tax credits, other tax incentives and credits, grant programs, low-interest loans, and infrastructure financing mechanisms. Warren is midway between Springfield and Worcester, and the Wright's Mill complex could capture demand from these major metropolitan areas. The site is convenient to dining and retail amenities along State Route 67 and within 12 minutes of the Massachusetts Turnpike Palmer interchange. Approximately 66,260 residents live within 10 miles of the property, representing an average household income of nearly $98,900 annually. Wright's Mill is in a unique market position for redevelopment, given its extensive size, Springfield and Worcester connectivity, and flexible zoning for various mixed uses.

FOR SALE DETAILS

PRICE

$8,200,000 USD

PRICE/SF

$14 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Wright's Mill

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Manufacturing

ADD'L SUBTYPES

undefined, Warehouse, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1880

UTILITIES

Lighting, Gas, Water, Sewer, Heating

CLEAR CEILING HT

12 Ft

DOCKS

10

DRIVE INS

2

PARKING SPACES

100

LAND DETAILS

LAND ACRES

99.58

LAND SF

4,337,705

ZONING

MCOD

APN/PARCEL ID

WARR-000021-000000-000039

ASK ABOUT THIS PROPERTY

Tony MarcotteMDP Development LLCMore Info
413-599-3491

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Tony MarcotteMDP Development LLCMore Info
413-599-3491

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