321 Central St - Office Conversion with Possible Tax Credits
Office | 6.13% CAP | 12,062 SqFt
Marketing description
Four Points Real Estate is pleased to exclusively present for sale 321 Central Street. 321 Central is comprised of 14 office and retail tenants. Tenants enjoy amenities such as an elevator, shared meeting room, library, kitchen, and roof top deck. 321 Central is located in downtown Lowell and walking distance to the new $200 million dollar Lowell Justice Center. This prime space is ready for it's next owner to continue to utilize it as a premier office space or to convert into residential housing. 321 Central sits within Lowell's MFOM Multifamily Overlay /TOD District. Residential conversion requires zero additional parking, eliminating one of the most costly and complex hurdles in urban adaptive reuse. By-right multifamily use eliminates special permit risk.
Investment highlights
- Walkable proximity to restaurants, retail amenities, hotels, and fitness facilities enhances the tenant experience and supports employee recruitment and retention.
- Common area kitchen and roof deck on the third floor.
- Large basement for to accommodate additional storage needs.
- Oversized conference room.
- Potential for a residential conversion. Historic building sits in the MFOM Multifamily Overlay District.
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