0 246.1 MarketstreetLowell, MA 01852

Property Details for 0 246.1 Marketstreet

Lot size

1.12 AC

Property size (Sq ft)

20,928 SF

Property type

Warehouses

Property subtype

Office properties

Description

This exceptional Lowell, MA mixed-use property, located at 246.1 Market Street, presents a unique redevelopment opportunity within the historic Boott Mill Complex. The 20,928 square foot property sits on 1.12 acres and comprises three distinct structures: the Turbine Building, Boiler House, and Coal Pocket. Currently configured as 63 units across five stories, the property offers significant potential for residential conversion. Phase 1, encompassing the Turbine Building, has received city approvals for 23 residential units and is ready for permitting, with demolition complete and utilities connected. Phase 2, involving the Boiler House and Coal Pocket, could accommodate an additional 40 units, subject to permitting. Strategically located in Lowell's Hamilton Canal District, this property benefits from proximity to a new Federal Courthouse, public transportation (a 5-minute walk to the Lowell T station), and significant ongoing infrastructure improvements. The Hamilton Canal District, boasting over 2,000,000 square feet of mixed-use development, is experiencing substantial revitalization, making this a prime investment opportunity. The property's classification includes Executive Office and Warehouse subtypes, reflecting its adaptable nature and potential for diverse uses.

Location Insight

City

Lowell

County

Middlesex

State

Massachusetts

Latitude

42.6455

Longitude

-71.3149

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