767 River StFitchburg, MA 01420

Property Details for 767 River St

Year built

1930

Construction

FRAME

Lot size

0.11 AC

Property size (Sq ft)

2,616 SF

Zone code

NB

Property type

Investment properties

Property subtype

Live-work space

APN

FITC M:0061 B:0003 L:0

APU

FITCM0061B0003L0

Description

This exceptional mixed-use property, located at 767 River Street in Fitchburg, Massachusetts, presents a compelling investment opportunity. The building encompasses 2,616 square feet situated on a 0.11-acre lot. The ground floor features a sizable commercial space with high visibility on River Street/Route 2A, making it ideally suited for a professional office or retail business. This space benefits from excellent street exposure, ensuring high traffic and visibility for any tenant. Above the commercial space is a well-maintained four-bedroom, two-bathroom apartment. Recent updates to the apartment include a brand-new kitchen, modern luxury vinyl tile (LVT) flooring throughout, and completely renovated bathrooms. The apartment's layout is thoughtfully designed, with a first-floor living area comprising a living room, dining room, laundry area, a bedroom, and a kitchen. Upstairs, three additional bedrooms and a second bathroom provide ample living space. The property's asking price is $399,900. This mixed-use building offers a unique blend of commercial and residential income potential, making it an attractive investment in a desirable Fitchburg location. The property's zip code is 01420, and it is located in Worcester County.

• CAP approach

  CAP return

  Valuation

  6%

  $432,503

  6.5%

  $399,233

  7%

  $370,717

• Comparable approach

  Method

  Valuation

  Relative Method

  $341,807

  Geo Method

  $341,807

• Alternative Use

  Use

  Valuation

  Residential

  $495,050

  Hospitality

  $453,463

  Educational

  $377,276

  Medical

  $390,251

  Retail

  $586,873

Location Insight

City

Fitchburg

County

Worcester

State

Massachusetts

Latitude

42.578

Longitude

-71.8336

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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