1061 Pleasant St
15,169 SF Office Building New Bedford, MA 02740 $2,500,000 ($164.81/SF)
INVESTMENT HIGHLIGHTS
- Two blocks from MBTA Commuter Rail Station & New Pedestrian Bridge - Prime Opportunity for Multi-Family Development.
EXECUTIVE SUMMARY
"Seller Financing Available": Incredible development opportunity a few short blocks from the upcoming MBTA Commuter Rail Station. 1061 Pleasant Street, the historic Russell-Howland House, an iconic opportunity in the heart of New Bedford, MA. Built in 1830, this distinguished property spans over 15,000 square feet of flexible space set on a generous 35,127 square foot lot. Massachusetts Historical Commission approval is in hand for transforming the existing structure into 13 residential units. Plans are available for an additional 22 residential units across two new additional structures. Conveniently located near Historic Downtown New Bedford, the working waterfront, & wind energy facilities, this is a rare opportunity for an ambitious developer to take over and finalize the project - creating highly sought after residential units as the city continues to in its exciting era of development further enhanced by the long awaited MBTA connection to Boston coming to fruition in March.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
15,169 SF
Building Class
B
Year Built
1830
Price
$2,500,000
Price Per SF
$164.81
Tenancy
Single
Building Height
3 Stories
Typical Floor Size
5,056 SF
Slab To Slab
11’
Building FAR
0.43
Lot Size
0.81 AC
Opportunity Zone
Yes
Zoning
RA - RA. Opportunity zone with new Transit Overlay.
Parking
28 Spaces (1.85 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Bus Line
- Commuter Rail
- Basement
- High Ceilings
PROPERTY TAXES
| Parcel Number | NEWB-000065-000000-000133 | Improvements Assessment | $959,000 |
| Land Assessment | $276,600 | Total Assessment | $1,235,600 |
