235 S Main St, Fall River, MA 02721

Prime Opportunity in Fall River’s Arts Overlay District
South Main Street | ±22,608 SF | 3 Levels | Former Rite Aid

An exceptional opportunity for an owner/user or investor seeking a versatile property in the heart of Fall River’s revitalizing South Main Street corridor. This ±22,608 SF building spans three floors, including a highly visible first-floor storefront formerly occupied by Rite Aid, a top floor with potential for office or residential conversion, and a basement level with side street access—ideal for storage or potential additional rental income.

Located within Fall River’s Arts Overlay District (AOD) and the Downtown Urban Renewal Plan, this property could qualify for powerful development incentives, including:

• HDIP tax credits up to $2 million for residential conversion,
  
  

• MassDevelopment’s TDI Equity grants up to $500,000, and
  
  

• Low-interest rehab loans through the city’s Community Development Agency.
  
  

Whether you’re an end-user looking for ground-floor retail with expansion upside, or an investor targeting Gateway City tax incentives and flexible mixed-use zoning, this property is a smart play in one of Fall River’s most opportunity-rich zones.