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44 Dean Street, Taunton, Ma 02780

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44 Dean Street, Taunton, Ma 02780 44 DEAN STREET, TAUNTON, MA 02780 36 UNIT RESIDENTIAL DEVELOPMENT OPPORTUNITY LAND FOR SALE TAYLOR SAULNIER JEREMY CYRIER, CCIM 617.674.2043 617.674.2043 [email protected] [email protected] MANSARD | 14 ESSEX STREET, ANDOVER, MA 01810 | WWW.MASSCOMMERCIALPROPERTIES.COM | 617.674.2043 36 UNIT RESIDENTIAL DEVELOPMENT OPPORTUNITY 44 DEAN STREET, TAUNTON, MA 02780 LAND FOR SALE Executive Summary OFFERING SUMMARY PROPERTY OVERVIEW MANSARD has been hired to facilitate the Sale of 44 Dean Street in Taunton, Massachusetts. This 2+ acre Sale Price: Subject to OQer property consists of 2 parcels and is a part of the urban residential district. Special permits have been obtained to develop a 3-story, 36 unit residential apartment building on the site. This project is located in a gateway city as deNned by chapter 23A, meaning it is eligible for two forms of tax incentives through the Housing Development Lot Size: 2.15+/- Acres Incentive Program. BeneNts of this program include a real estate tax exemption on all or part of the increased property value from improvements and state tax credits for QualiNed Project Expenditures. Dean Street has a traPc count of 21,000+/- vehicles a day and has 68 restaurants within a 3-Mile radius. This prime redevelopment Frontage: 186+/- Feet opportunity neighbors 40 Dean Street, a 5,035 SF historical oPce property which is under the same ownership and is also for sale by MANSARD. TraPc Count 21,000+/- LOCATION OVERVIEW - 2+ Acres with Permits to Develop a 36 Unit Residential Apartment Building - TraPc Count of 21,000+/- Vechicles Per Day Zoning: Urban Residential District - HDIP Tax BeneNts Available - 68 Restaurants Within a 3 Mile Radius - 8 minute Drive to Silver City Galleria, 160 Store Mega Mall # Of Approved Units 36 MANSARD | 14 ESSEX STREET, ANDOVER, MA 01810 | WWW.MASSCOMMERCIALPROPERTIES.COM | 617.674.2043 / 2 36 UNIT RESIDENTIAL DEVELOPMENT OPPORTUNITY 44 DEAN STREET, TAUNTON, MA 02780 LAND FOR SALE Highlights SITE DESCRIPTION Lots 756 and 757 have been combined to create a 2+/- acre parcel. Both sites are currently improved with a building. The site is approved to be developed into a 3-story 36 unit residential apartment building. The site is well suited for a residential apartment use due to its location surrounded by similar residential uses as well as its proximity to local area highways, and neighborhood shopping amenities. Electricity, gas, telephone, cable, water and sewer are all available to the site. The site neighbors 40 Dean Street, a 5,035 SF historic oPce building that is also for sale separately. LOCATION DESCRIPTION The subject property is located less than one mile east of Downtown Taunton, which includes Taunton City Hall, the Taunton Police Department and the Taunton Public Library. In addition to downtown Taunton’s retail shops, Silver City Galleria, which is located less than two miles north of the subject, is a 160 store mega-mall that provides residents with national chain shopping facilities, including Sears, Macy’s, J.C. Penney, Best Buy, and a movie theater. There are a number of grocery (Wal-Mart Supercenter, Stop & Shop and Shaw’s) located with two to three miles, as well as several banks, gas stations and fast food restaurants. The Morton Hospital and Medical Center, a 153 bed general acute-care hospital is located in Taunton is less than one mile north of the subject. Transportation and access to and from Taunton is available via Interstate 495, which provides access to Interstate 90 to the northwest and U.S. Route 6, the Mid- Cape Highway, to the southeast. The major highway’s encompassing Taunton are Interstate 495, U.S. Route 44; and State Routes 24 and 138, both running north to south between the Boston area and Fall River. TAUNTON HOUSING MARKET • The City of Taunton has a limited supply of available market rate or aQordable rental housing. • Several aQordable housing developments located in Taunton and the surrounding area reported greater than 97% occupancy, with several maintaining a waitlist. • Data from seven similar rental developments in the area totaling 600+ units have an overall average occupancy rate of 98%. MANSARD | 14 ESSEX STREET, ANDOVER, MA 01810 | WWW.MASSCOMMERCIALPROPERTIES.COM | 617.674.2043 / 5 36 UNIT RESIDENTIAL DEVELOPMENT OPPORTUNITY 44 DEAN STREET, TAUNTON, MA 02780 LAND FOR SALE Proposed Floor Plan MANSARD | 14 ESSEX STREET, ANDOVER, MA 01810 | WWW.MASSCOMMERCIALPROPERTIES.COM | 617.674.2043 / 6 36 UNIT RESIDENTIAL DEVELOPMENT OPPORTUNITY 44 DEAN STREET, TAUNTON, MA 02780 LAND FOR SALE Site Plan MANSARD | 14 ESSEX STREET, ANDOVER, MA 01810 | WWW.MASSCOMMERCIALPROPERTIES.COM | 617.674.2043 / 7 36 UNIT RESIDENTIAL DEVELOPMENT OPPORTUNITY 44 DEAN STREET, TAUNTON, MA 02780 LAND FOR SALE Assessors Map MANSARD | 14 ESSEX STREET, ANDOVER, MA 01810 | WWW.MASSCOMMERCIALPROPERTIES.COM | 617.674.2043 / 8 36 UNIT RESIDENTIAL DEVELOPMENT OPPORTUNITY 44 DEAN STREET, TAUNTON, MA 02780 LAND FOR SALE Amenity Map MANSARD | 14 ESSEX STREET, ANDOVER, MA 01810 | WWW.MASSCOMMERCIALPROPERTIES.COM | 617.674.2043 / 10 36 UNIT RESIDENTIAL DEVELOPMENT OPPORTUNITY 44 DEAN STREET, TAUNTON, MA 02780 LAND FOR SALE Demographics MANSARD | 14 ESSEX STREET, ANDOVER, MA 01810 | WWW.MASSCOMMERCIALPROPERTIES.COM | 617.674.2043 / 11 36 UNIT RESIDENTIAL DEVELOPMENT OPPORTUNITY 44 DEAN STREET, TAUNTON, MA 02780 LAND FOR SALE About Taunton MA TAUNTON, MA The City of Taunton is home to several of the Bristol County WDA’s largest employers including General Dynamics Mission Systems, Morton Hospital & Medical Center, and Taunton Civil Service. According to statistics provided by the Massachusetts OPce of Labor and Workforce Development, the Bristol County Workforce Investment Area employs 181,500 workers and has a current unemployment rate of 3.8%. Taunton employs 28,328 workers and has a current unemployment rate of 4.0%. A review of employment statistics for the Bristol County WDA reOects that Health Care and Social Assistance employment is the largest employment sector in the region in terms of the number of employees, with over 26,000 employees. This category is followed by Retail Trade with just under 23,000 employees on average, Manufacturing with 15,400 employees on average and Accommodation and Food Services with 14,300 employees on average. MANSARD | 14 ESSEX STREET, ANDOVER, MA 01810 | WWW.MASSCOMMERCIALPROPERTIES.COM | 617.674.2043 / 12 36 UNIT RESIDENTIAL DEVELOPMENT OPPORTUNITY 44 DEAN STREET, TAUNTON, MA 02780 LAND FOR SALE Company Info LOCAL EXPERTISE ? More than 85 percent of sales in this area are purchased by MA- or NH-based investors. MANSARD maintains strong local relationships as well as a database of qualiNed buyers for local commercial properties. We know who has owned what properties, so we can match buyers to the size and types of properties they are most interested in owning. Going straight to the most-likely buyers saves you time and hassle, getting you a successful deal at the right price. Over the last 18 years, we’ve become experts in local high-value commercial real estate sales. We’ve negotiated the sale of more than 1,000 properties using the MANSARD Portfolio Method. That’s why our clients trust us with their portfolios. MARKET KNOWLEDGE ? There is no substitute for understanding the local market trends when selling a commercial real estate property in Massachusetts and New Hampshire. For instance, on paper it might have looked like nothing much had changed in the commercial real estate market in MA and NH between 2017 and 2018. Transaction volume was about the same both years. But there was a key diQerence under the surface: The average price per square foot had increased 23.6%. That meant sellers were asking for more and buyers were willing to pay. Having a local expert on your team ensures you get the right price for your local property. CONFIDENTIALITY Some owners don’t want their business to be known, especially by their tenants, so they need a private sale. Because of MANSARD’s excellent relationships in the local market, you may not require a public sale. We have access to the people who will pay the right price and close the deal without a public listing. NON-STOP MARKETING No real estate deal is complete until its closed. It is not uncommon to have several agreements reach the Nnal stages then fall through before the deal closes. That means we never stop marketing your property to new potential buyers until the deal is oPcially closed. It takes perseverance to sell a commercial real estate property. At MANSARD, we’ll help you stay calm and positive as we maneuver through the oQers and negotiations, until we can celebrate the successful sale together. JEREMY CYRIER, CCIM TAYLOR SAULNIER President & Commercial Real Estate Advisor Strategic Client Services Associate [email protected] [email protected] 617.674.2043 617.674.2043 MANSARD | 14 ESSEX STREET, ANDOVER, MA 01810 | WWW.MASSCOMMERCIALPROPERTIES.COM | 617.674.2043 / 13.
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