PROPERTY DESCRIPTION

Godino & Company recently sold 23 Elm Street, an industrial site, which has existing cash flow with redevelopment potential. With a special permit, the site could be approved for a potential development opportunity -- office / lab, hotel or multi-family housing. It is located at 23 Elm Street in Watertown, MA near Arsenal Street.

Land area: 1.075 acres or 46,838+ sf

The property is situated near the center of the existing and proposed developments in Watertown, along Arsenal Street' s retail corridor. 

• Adjacent to the newly constructed Residence Inn Marriott located at 570 Arsenal Street, which has 150 extended-stay rooms on six floors.  This property sold for $71 million in late 2018
• Across the street from Watertown Mall, which is anchored by Target, Best Buy and Registry of Motor Vehicles
• Within walking distance of Arsenal Mall, which is to become the site of Arsenal on the Charles
• The master plan for the Arsenal Mall has been approved for new developments of the Arsenal on the Charles, which includes 900 apartments, 200,000 SF of office space and retail space, and 1,900-space car parking.
• Borders Newton and Cambridge
• Near site of proposed Arsenal on the Charles
• Near Harvard University's Soldiers Field Road / Western Avenue proposed campus
• Less than two miles to Mass Turnpike & Harvard Square