RIVERFRONT DEVELOPMENT OPPORTUNITY
650 Water Street, Fitchburg, MA 01420
DEVELOPMENT OVERVIEW
Planned Multifamily Expansion
• Two (2) Multi-Family buildings
• Total Planned Units: 156 apartments
Existing Community Context
• Part of larger 26+ acre Arden Mills redevelopment
• Existing Phase I condominium community completed with 204 residential units
Site Characteristics
• ±14.96 Acres
• River frontage and wooded setting
• Direct access from established community roadway system
• Existing utility and infrastructure framework nearby
MARKET FUNDAMENTALS
The Fitchburg / Leominster market continues to
experience:
• Strong demand for rental housing
• Limited affordability for homeownership
• Constrained housing inventory
• Continued workforce housing need
These conditions support long-term rental demand and absorption potential.
Why This Opportunity Stands Out
• Prior entitlement and development groundwork completed
• Significant upside between land basis and stabilized value
• Potential flexibility for:
1.Sale
2.Joint Venture
3.Recapitalization
4.Phased Development
Ideal Buyer Profile
• Multifamily developers
• Value-add / opportunistic investors
• Senior living operators
• Groups seeking partially entitled development opportunities
Building Details
- For Sale Price on request
- Property Type VacantLand
- Lot Size 14.96 Acre
- Additional Rent Price on request
- Date Updated Aug 6, 2026
Reach out to the broker for more info on lease terms and amenities
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Contacts
KW Commercial | Northeast Solutions
Location
- City Fitchburg, MA
- Neighborhood South Fitchburg
- Zip Code 01420
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Walk score 54/100 Somewhat Walkable -
Transit score 35/100 Some Transit -
Bike score 30/100 Somewhat Bikeable
Points of Interest
Fitchburg
0.69 miles
North Leominster
3.24 miles
Wachusett
3.45 miles
Happy Car
0.80 miles
ABS Gas&Go
0.81 miles
Stop auto group
0.93 miles
BP
0.97 miles
Patriot Gas
1.02 miles
Cumberland Farms
1.45 miles
Mobil Mart
1.58 miles
Sunoco
1.59 miles
BJ's Gas
2.27 miles
The Mall at Whitney Field - Tesla Supercharger
3.62 miles
Green 2
0.93 miles
Congress
0.95 miles
Green 1
0.96 miles
North 4
0.98 miles
North 1
1.05 miles
North 2
1.07 miles
Lower Cedar
1.19 miles
Anthony
1.23 miles
Dupont
1.24 miles
Upper Cedar
1.24 miles
Fitchburg Car Wash
0.71 miles
Enterprise
0.77 miles
Quick 'N Clean
0.97 miles
Touchfree Car Wash
1.56 miles
Whalom Car Wash
1.92 miles
Alltown
8.38 miles
Pro Clean Auto Wash
8.98 miles
Ninety-Nine
0.33 miles
Carol's Dairy Bar
0.43 miles
Little Caesars
0.44 miles
Subway
0.52 miles
Domino's
0.68 miles
Taco Bell
0.78 miles
Dunkin'
0.79 miles
McDonald's
0.81 miles
China Wonder
0.82 miles
El Paso Restaurante
0.82 miles
Water Street Plaza
0.66 miles
Market Basket
0.72 miles
Big Lots
0.78 miles
Hannaford
1.39 miles
Marshalls
1.97 miles
Walmart
2.07 miles
Shaw's
2.42 miles
Burlington
3.72 miles
The Mall at Whitney Field
3.72 miles
JCPenney
3.86 miles
Fitchburg Fire Department
0.46 miles
CareWell Urgent Care
0.88 miles
Campus Police
0.97 miles
Walgreens
0.99 miles
CVS Pharmacy
1.01 miles
Fitchburg Police Station
1.09 miles
Reliant Medical Group
1.24 miles
Fitchburg VA Clinic
1.37 miles
Office Of The Sheriff Worcester County
1.77 miles
UMass Memorial HealthAlliance Hospital Burbank Campus
2.03 miles
Listing Summary
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What is the asking price at RIVERFRONT DEVELOPMENT OPPORTUNITY?
The asking price for RIVERFRONT DEVELOPMENT OPPORTUNITY is currently available on demand. Contact the listing broker for details.
KW Commercial | Northeast Solutions
