PROPERTIES FOR SALE AT 1109, 1146, AND 1151 MAIN ST., FITCHBURG, MA, 01420

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Bonnie Hodge
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1 PROPERTIES FOR SALE AT 1109, 1146, AND 1151 MAIN ST., FITCHBURG, MA,

2 Table of Contents: Page 1: Page 2: Page 3-5: Page 6: Page 7: Page 8: Photograph of 1146 Main St., Red Brick River Mill Table of Contents Site Plan & Description Artistic Rendering of Condominium Complex Red Brick River Mill Building [Site A ] Footprint & Floorplan of Red Brick River Mill Building Condo Conversion Page 9: Page 10: Page 11: Page 12: Boomtown Variety Interior Pictures of Red Brick River Mill Building Photographs of Sites C & D Photographs from 4 th Floor Penthouse of Red Brick River Mill Building Page 13: Page 14: Page 15-23: Page 24-30: Photographs of Armored Self Storage Maps of Subject Sites & Relative Surroundings Commercial Real Estate Appraisal of 1146 Main ST. Public Records of all Real Estate FOR SALE. 2

LOT A - 1146 MAIN ST MAP 17, BLOCK 65; 28356 SQ FT; 0.46 ACRES LOT B - 0 MAIN ST MAP 18, BLOCK 2; 0.11 ACRES LOT C - 1151 MAIN ST MAP 17, BLOCK 64; 9799 SQ FT; 0.

3 LOT A MAIN ST MAP 17, BLOCK 65; SQ FT; 0.46 ACRES LOT B - 0 MAIN ST MAP 18, BLOCK 2; 0.11 ACRES LOT C MAIN ST MAP 17, BLOCK 64; 9799 SQ FT; 0.2 ACRES LOT C2-0 GODDARD ST MAP 18, BLOCK 6; 0.22 ACRES LOT D MAIN ST MAP 18, BLOCK 3; 2592 SQ FT; 0.18 ACRES LOT E - 0 GODDARD ST MAP 18, BLOCK 5; 0.1 ACRES LOT F,G,H 1109 MAIN ST - MAP 18, BLOCK 4; 1280 SQ FT, 0.45 ACRES 3

4 Location of Properties The brick mill property is located on the south side of Main Street in Fitchburg and runs along the north bank of the Nashua River. It is owned by Fitchburg Red Brick River Mill, Inc. The option property is located on the north side of Main Street in Fitchburg across from the brick mill and also has frontage on Chestnut Street and Goddard Street. It is owned by W.A.S. Realty Trust and is under an option to purchase held by Yvon J. Robichaud. The area is zoned as Central Business District. It abuts the City of Fitchburg s Downtown Urban Revitalization Development Plan and Crocker Field, an Olmsted designed athletic facility located in the Crocker Field Historic District. OPTION PROPERTY: Yvon Robichaud holds the option to purchase the property directly across from the brick mill on Main Street. The property consists of approximately 1.2 acres in 6 parcels and is owned by W.A.S. Realty Trust, Davia L. Larocque, Trustee. The option period expires October 31,2005 and the option price is $330,000. There are currently 2 businesses operating on the property - an office furniture store in the front section of building 1 and a variety store (operated by Mr. Robichaud) in building 3. Some of the garages off of Chestnut Street are rented as well as some general parking on the back and side of the lot. The retail operations in buildings 1 and 3 will continue during and after the condo: development in the brick mill. The back section of building 1, and the garages of building 4 will be set up as inside parking for the condo units. If building 5 is not sold back to the current owner of the property, that can also be part of the inside parking. The ground level of building 2 can either be part of the inside parking or be additional retail area. The upper levels of buildings 1 and 2 can be office or commercial space. The open areas of the property will be incorporated into the additional parking for the condo units and the business on both properties. BRICK MILL: The brick mill has three sections: the main section with four floors, the center section with three floors and the right hand section with 1 floor (floor plans are attached). Armored Self Storage, a business owned by Mr. Robichaud, has been operating on the first two floors of the main and center sections for several years. Mr. Robichaud formed Fitchburg Red Brick River Mill, Inc in 2004 to purchase the building from his partner of several years. Since that purchase, considerable improvements have been made to the building in preparation for future development. The proposed development will take place in multiple phases. Except for the installation of an elevator, there will be minimal changes to the exterior of the building. During the initial stages, the storage business will be maintained, with areas currently on the second floor of the main section re-located to the center section. 4

5 Phase 1: A 4-story elevator will be installed to accommodate the development of the entire building. It will be located in an existing space in the front of the center section of the mill building. 14 to 16 up-scale residential condominium units will be constructed 6ft the second and third floors of the main section of the building. Marketing will be done to allow buyers to purchase a standard unit or to participate in the design of the interior layout and choose the amenities of a unit. Attached are floor plans showing the types of units that could be constructed. Phase 1 utilizes less than 40% of the square footage of the mill. Phase 1 Options: The fourth floor area will either be preserved as a common area function room for the condominium, become additional residential area by designing 2 large penthouse units or incorporating a second level into one or more of the third floor units or a combination of the three concepts. Phase 2: The first floor will be developed into commercial and retail condominium units. These units could be offered to residential owners as work areas or sold to outside businesses. Phase 3: The center section will be developed into residential units on the second and third floors and commercial and retail units on the first floor. The size of the units and the residential/commercial mix will be determined by the demand generated by phases 1 and 2. The right section of the building can be incorporated into the third phase or laid out as general storage areas for the entire condominium. There is some parking available on the property, but the main parking will be on the property across the street on which Mr. Robichaud holds the option to purchase. 5

6 Artistic rendering of Condominium Conversion. 6

7 Red Brick River Mill Building [Site A ] 7

8 Footprint of 1146 Main St/Red Brick River Mill 180.0' UNIT 4 UNIT 5 UNIT 6 UNIT ' 46.0' Phase II UNIT 1 UNIT 2 Stairway UNIT ' 14.0' 19.0' 21.0' 85.0' Elevator 60.0' Sketch by Apex IV 1 st & 2 nd Floorplans for Condo Conversion [Site A ] 180.0' UNIT 11 UNIT 12 UNIT 13 UNIT ' 46.0' Phase II UNIT 8 UNIT 9 Stairway UNIT ' 14.0' 19.0' 21.0' 85.0' Elevator 60.0' Sketch by Apex IV 8

9 Boomtown Variety Store [Site F ] 9

10 Views from the third floor of 1146 Main St.- [Site A ] Views from the third floor of 1146 Main St.- [Site A ] Views from the third floor of 1146 Main St.- [Site A ] 10

11 10,000 Square Foot Commercial Building [Site C ] 2592 Square Foot, 0.18 Acre Commercial Building [Site D ] 11

12 Fourth floor loft of 1146 Main St. [Site A ] View of Crocker Field and Nashua River from 4th floor loft 12

13 Armored Self Storage occupying 2 levels and containing 140 storage units. 13

14 Maps of Real Estate for Sale at Red Brick River Mill 14

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Site Plan BILTMORE LIVING. 3-Plex. 4-Plex. 5-Plex

Site Plan BILTMORE LIVING. 3-Plex. 4-Plex. 5-Plex BILTMORE LIVING BILTMORE LIVING 3-Plex 4-Plex 5-Plex Site Plan Biltmore Living is a thoughtfully planned 40-unit gated community, featuring a lush pool, spa retreat, multiple bike racks and an outdoor