2 & 16 East Main St, Ware MA 01082
Beautiful setting close to Downtown Ware on the banks on the Ware River
Sold with clear title no back taxes or liens. Warranty deed- Title insurance provided.
LARGE BRICK MILL COMPLEX LOCATED ON THE NORTHERN BANK OF THE WARE RIVER.
Great demographics:
- population on the increase
- high % of occupied units
- Average household income over $60k
Gross rental income potential: $172,000/ year (14,300/ month)
Two buildings on a large lot, located on the banks of the Ware River in Ware, MA.
The property is divided into four parcels with lot area totalling about 6.22 acres extending over both sides of the river.
Great potential:
The large industrial buildings are also suitable for a variety of uses or mixed use.
Zoning can include development of single-family, multi-family, office, retail. Buyer to confirm permitted uses direct with zoning.
4 parcels, buyer may retain some of the parcels and sell out the others.
Description:
The property has three brick buildings and is sitting on a 6.22 acres lot about 0.3 miles from Downtown Ware, MA. The building numbers are marked on the Bird Eye View picture.
The total floor area is about 33,300 sq ft and is divided as follows:
Offices: 300 sq ft
Warehouse: 16,500 sq ft
Manufacturing: 16,500 sq ft
The buildings are 1 to 4 stories high. The four story building (building 1) is right on the bank of the river and has a lot of character and is suitable for residential or offices. The single /two storey building (Building 2) with ceiling at places, is suitable for warehousing or manufacturing and offices and has an attractive curved wall and high windows and large open areas. Building 4 which takes a small area behind building 3 will need demolishing – its area is not included in the above sq ft. The two stories building at the back (building 3) is two story and ideal for offices or servicing.
The lot has potential for new build (subject to zoning) and offers ample space for parking.
Property condition:
Overall the buildings are solid and will need a rehab and renovation according to the proposed use. The sprinkler system is currently switched off but was repaired last year and was working. The heating is also operational and in working order.
Phase I Environmental report was conducted which concluded: Site conditions do not indicate an Imminent Hazard to health, safety, public welfare and/or the environment, and further Immediate Response Actions are therefore not necessary. The site does not meet the inclusion criteria for a Tier I classification and is therefore classified Tier II. The only issue is related to an oil tank which will need to be dealt with.
Features:
- Downtown location
- large Lot
- All Brick Buildings
- Large open space
- Ideal setting by the River Ware
Great Location:
Prominent and highly visible, this is a great location for a variety of uses
The property is located on the banks of the River Ware less than 5 minutes walk from Downtown Ware with the river running through the property. The area is mixed residential and commercial and all properties on the street are very well kept. Downtown has many stores, banks, the Post Office and is a good mix of commercial and residential.
The property is close to local facilities and amenities:
Restaurants
Lazer’s Pizza & Roast Beef (.2mi), Gheppetto’s Grill (.3mi), Niko’s Pizza (.3mi), Villa’s Pizzeria (.4mi), Ware Cafe & Catering Services (.5mi), Debbie Wong Restaurant (.5mi), Snow’s Restaurant (.7mi), McDonald’s (.8mi), Asian Garden (.8mi), Subway (.9mi), Mexicali Fresh Mex Grill (.9mi), Bella Roma II (1mi), Crystal Springs Dairy Bar (1mi), United China Restaurant (1mi), Georges astronaut pizza (1.4mi), Astronaut Pizza House (1.4mi), Teresa’s Resturant (2.3mi), Subway (2.7mi), gigi’s pizzeria (3.4mi), Shelby’s Café (3.4mi), Haymakers Grille (3.4mi), Dippin’ Donuts (3.4mi),
Coffee
Dunkin’ Donuts (.9mi), Cakettes (2.9mi),
Bars
Gabriel NarutowiczInc (.03mi),
Groceries
Big Y World Class Market (1mi), Big Y (1mi), Ware Farmers’ Market (1.1mi), Walmart Supercenter (2.7mi), Traska Village Market (3.4mi), Hardwick Market &Pkg Store (3.5mi), Warren Cash Market (3.9mi),
Parks
Ware Millyard Historic District (.1mi), Nenamesek Park (.3mi), Greenville Park (.4mi), Memorial Field (.4mi), Church Street Historic District (.5mi), Greenville Park (.6mi), Coy Hill Wildlife Management Area (1.1mi), Ware Center Historic District (2mi), Palmer Wildlife Management Area (2.3mi), Lucy Stone Home Site (2.3mi), Palmer Wildlife Management Area (2.4mi), Swenson Land (2.6mi), Strawberry Fields (2.6mi),
Schools
St Mary’s School (.4mi), Stanley M Koziol Elementary School (1.5mi), Ware High School (1.6mi), Ware Middle School (1.6mi), St Thomas Aquinas School (3.4mi), Quaboag Regional High School (3.7mi),
Shopping
Wilton Childrens Store (.2mi), Custom Sewing (.3mi), Nat Falk (.3mi), Nat Falk Inc (.3mi), Jane Alden Convenience Store (.5mi), Brookside Mart (.8mi), Just A Thought Boutique (1mi), Cumberland Farms (1.1mi), A La Cave Stiches and Crafts (2.3mi), Discount Bridal Shoppe.com (3.2mi), Toby’s Winter Wear (3.9mi),
Errands
Family First Bank (.1mi), Familyfirst Bank (.3mi), Country Bank (.3mi), CVS/pharmacy | Photo (.7mi), Sears Hometown Store (.8mi), Rite Aid Pharmacy (.9mi), Monson Savings Bank (.9mi), Jefferey C. Goodrow Jr, RPH (.9mi), Monson Savings Bank (1mi), Christopher Waldron, RPH (1.1mi), Joseph Lewis, PharmD (1.1mi), Walgreens Store Ware (1.1mi), Walgreens (1.1m)
Demographics 3 miles 5 miles
2015 Total Population 7,541 16,892
Population change 2010-15 +2.26% + 1.86%
% occupied units 92.95% 91.75%
Average Household Income: $61,050 $70,322
THIS IS A UNIQUE OPPORTUNITY FOR THE SAVVY BUSINESS OWNER, DEVELOPER OR INVESTOR TO OWN A POTENTIALLY HIGH INCOME PROPERTY AT A DISCOUNTED PRICE IN A GREAT LOCATION.
Great investment opportunity:
The property has great potential with 33,300 sq ft of buildings on 6.22 acres
The average asking price for industrial property in Ware, MA is $44.18/ sq ft*, based on this average the retail part on its own is worth $1,471,000.
Price increases: last 3 month: + 3.7% – last 12 months: +12.9%*
The average asking rent for industrial property in Ware, MA is $5.17/SF/Year*. At this rate the property gross rental income is: $172,000/ year (14,300/ month)
*LoopNet.com
Comparables For Sale:
1 Mechanic Street Ware, MA 01082 – 15,800 SF – Industrial- $425,000
Rt. 32 at Malboeuf Road, Ware, MA 01082 – 6 Acres – $500,000
1 Palmer Rd, Ware, MA 01082- 0.62 Acres lot – $127,000
Comparables Sold:
56 North Street, Ware, MA 01082 – 3,231 sq ft – $70,000 – Sold 3/30/2017
57 East St Ware MA 01082 – 5,212 sq ft – $75,000 – Sold 3/9/2017
32 Park Avenue, Ware, MA 01082- 2,976 sq ft- $157,000- Sold 2/9/2017
104 West Street, Ware, MA 01082 – 13,815 sq ft – $7,651,000- Sold 10/14/2016 (built 2008)
3 Wildflower Drive, Ware, MA 01082 – 0.46 acres lot- $279,000- Sold 9/13/2016
Real Estate Taxes:
Hampshire County Massachussetts parcel Pin #: 57-0-110, 61-0-191, 61-0-190, 57-0-128
Total Assessed: $493,400
Tax for all 4 parcels: $9,972
Due Diligence (attached)
Phase 1 environment report
Purchase Agreement
Utilities: Electricity/ Power connected
PROPERTY IS SOLD AS IS, WHERE IS-
Sold with clear title no back taxes or liens. Warranty deed- Title insurance provided.