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45 Merrimack

Posted: 8/31/2021
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About 45 Merrimack

Cushman & Wakefield’s Multi-Family Advisory group is pleased to offer for sale 45 Merrimack Street, a historic preservation and new construction residential redevelopment opportunity in the heart of Lowell, Massachusetts’ historic downtown. The property is comprised of adjoined 5 and 2 story buildings totalling 69,500 +/- GSF and 23,714 +/- SF of land. Situated prominently on Merrimack Street, the 5-story structure, known as the Hildreth Building, offers a blank redevelopment canvas of 51,000 +\- GSF well suited for residential apartments or condominiums. Constructed in c. 1882, the preservation of the building’s façade and renovation of the upper floor interiors would create high character residential loft style units featuring 10’+ ceilings, large windows and exposed brick elements. The 2-story portion of the property along Paige Street, totalling 18,500 +/- GSF and 12,200 SF of land, offers the potential for multiple value-add opportunities, including groundup construction of a new residential low or mid-rise building. The redevelopment of 45 Merrimack is fully supported by the City of Lowell and the incoming owner can leverage Opportunity Zone, Historic Tax Credits and city and state economic development incentives to bring this transformative project to fruition.

45 Merrimack Street is offered for sale on an "as-is" basis and without a formal asking price. Once investors have had an opportunity to review the offering materials and tour the property, Cushman & Wakefield will schedule a "Call for Offers" date.