Map of Property

RIVERFRONT DEVELOPMENT OPPORTUNITY

For Sale

650 Water Street, Fitchburg, MA 01420

This Fitchburg property for sale is located at 650 Water Street. Contact the listing broker for details on the current sale price for RIVERFRONT DEVELOPMENT OPPORTUNITY. RIVERFRONT DEVELOPMENT OPPORTUNITY is situated on a lot that is 14.96 acre in size.

Contacts

Duncan Chapman

KW Commercial | Northeast Solutions

Property Details

  • Property Type VacantLand
  • Lot Size 14.96 Acre
  • Date Updated Jun 17, 2026

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
 

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Getting around

  • 54/100

    Walk Score ®

  • 35/100

    Transit Score ®

  • 30/100

    Bike Score ®

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Location

  • City Fitchburg, MA
  • Zip Code 01420

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

  • Howarth House Bed and Breakfast

    1.39 miles

  • Days Inn by Wyndham Leominster/Fitchburg Area

    2.06 miles

  • DoubleTree by Hilton Hotel Leominster

    2.23 miles

  • Motel 6

    3.50 miles

  • Great Wolf Lodge

    3.86 miles

  • Wachusett Village Inn

    5.17 miles

  • Rodeway Inn

    6.28 miles

  • Colonial Hotel

    8.35 miles

  • Chocksett Inn

    8.48 miles

  • Hilton Garden Inn

    9.17 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

Contact Listing Broker
Duncan Chapman

KW Commercial | Northeast Solutions

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