Historical Multifamily Sale Listing - Samuel Pierce Organ Pipe Factory

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Samuel Pierce Organ Pipe Factory

10 Pierce Street, Reading, MA 01867

N/A

8 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
8
Building Size:
12,000 SF
Property Type:
Multifamily
Property Sub-type:
Mid/High-Rise
Additional Sub-types:
Garden/Low-Rise
Property Use Type:
Investment
Construction Status:
Under Construction/
Proposed
Commission Split:
3%
Occupancy:
75%
Lot Size:
0.50 AC
Zoning Description:
Light industrial Bldg in
residential zone
Listing ID
15609657
Last Updated
over 1 year ago

Utilities

  • Electricity/Power

Description

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.

Map of 10 Pierce Street, Reading, MA 01867 (Middlesex County)

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