359 Summer StFitchburg, MA 01420

Property Details for 359 Summer St

Year built

1971

Construction

STEEL FRAME

Lot size

0.38 AC

Property size (Sq ft)

5,100 SF

Zone code

C

Property type

Retail space

APN

FITC M:0111 B:0034 L:0

APU

FITCM0111B0034L0

Description

This exceptional commercial property, located at 359 Summer Street in Fitchburg, Massachusetts, presents a rare opportunity for business owners seeking a high-visibility location with significant space. Currently occupied by a thriving flooring company, this building offers a versatile layout ideal for a variety of uses. The property boasts convenient corner lot positioning at the intersection of Summer and Dwight Streets, providing excellent street frontage and ample off-street parking directly in front. The main level features a spacious showroom with impressive 10-foot drop ceilings, perfect for showcasing products or services. A private office and bathroom are also conveniently located in the front section. The rear of the building houses a large, open warehouse area with substantial 14.4-foot ceilings and an additional bathroom, providing ample room for storage, production, or other operational needs. The retail space at the front is adaptable and can be easily reconfigured to suit the needs of a new owner. An overhead door in the rear provides access to additional land and parking, offering further potential for expansion or outdoor storage. This property represents a unique opportunity to acquire a well-situated commercial building with significant potential in a desirable location. The seller is motivated, making this an attractive investment for discerning buyers. Don't miss this chance to secure a prime commercial space in a thriving area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,239,478

  6.5%

  $1,144,134

  7%

  $1,062,410

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,679,242

  Geo Method

  $1,679,242

• Alternative Use

  Use

  Valuation

  Residential

  $965,120

  Hospitality

  $884,044

  Educational

  $735,514

  Medical

  $760,810

  Retail

  $1,144,134

Location Insight

City

Fitchburg

County

Worcester

State

Massachusetts

Latitude

42.571

Longitude

-71.7757

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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