This property is Off-Market
10 Pierce Street
Reading, MA 01867 ·
8 Units · Multifamily For Sale
Samuel Pierce Organ Pipe Factory
|Price||N/A||Construction Status||Under Construction/Proposed|
|No. Units||8||Commission Split||3%|
|Building Size||12,000 SF||Occupancy||75%|
|Property Type||Multifamily||Lot Size||0.50 AC|
|Zoning Description||Light industrial Bldg in residential zone|
|Property Use Type||Investment||Features||Electricity/Power|
|Listing ID: 15609657||Date Created: 03/12/2008||Last Updated: 03/10/2010|
This 3 building complex is the former Samuel Pierce Organ Pipe Factory and is set on a 1/2 acre lot in a residential zone. Current use is light industrial. It is located in a quiet residential neighborhood close to Boston's commuter rail, downtown shops, restaurants, and major highways, including I95. Frame is wooden and sits on a solid granite and brick foundation. A 2006 21E (stage 1 and 2) test has come back clean. This is a great opportunity for investors, condo/townhouse developers, green builders, and historic restoration specialists. Property has previously received zoning board approval (will require re-approval) for historic re-development into condo/townhomes. Planning board approval is required, but preliminary meetings indicate there is agreement on general approach. "L" shaped front building has approx. 7,500 sq.ft plus attic and basement space. Back building has 4-5 K of space.
Owner Occupied. Zero debt.
FSBO: Offering 3% commission to brokers.
Reading, Mass. is 15 miles north of Boston. Property is 0.5 miles away from Interstate 95 and 1.0 miles from Interstate 93. Commuter rail station is 0.5 miles away. Reading homes are proven to sell faster than most homes in surrounding areas.
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