Re-Development Property for Sale
Northeast Private Client Group is pleased to present the Downtown Attleboro Re-development opportunity at 54 Union Street, Attleboro, MA 02703. The subject property is conveniently located steps from the Attleboro Commuter Rail where commuters can enjoy a 15-minute ride into Providence or a 45-minute ride into Boston.
Plans have already been developed for a 24-unit 1&2-bedroom apartment building with off-street parking. We estimate the construction cost to be $100,000/unit with an average rent of roughly $1,800/month. Upon completion, we project the value to be $5,200,000 at a 7% cap rate.
Downtown Attleboro is in the midst of a transformation with the first of many developments being Renaissance Station North; a 90,000 sq. ft. 80-unit apartment building with street level retail just blocks from the subject property. Renaissance North is the first of a 2-phase plan, the second of which is in the planning stages.
All interested and qualified parties will have an opportunity to tour the property during scheduled appointments and obtain additional information upon request.
Attleboro, Bristol County, MA