TOWN OF RANDOLPH, MA
Surplus Property - 16 Fencourt Ave
Friday - January 22, 2021
Registration begins at 10am - Auction begins at 11am
PRIME DEVELOPMENT OPPORTUNITY!!! 7.13+/- ACRES on FENCOURT AVE & RESTARICK AVE
13,687± SF Building LOCATED WITHIN AN OPPORTUNITY ZONE
The Property consists collectively of two parcels of land referred to as the Fencourt Avenue Parcel and the Restarick Avenue Parcel, and all structures thereon. The two parcels were combined in the recording of a definitive subdivision plan in 1987 (Plan book 362 Plan #1527).
The two parcels are also described in the Town Records as follows: The Fencourt Avenue Parcel is the parcel known as 16 Fencourt Avenue, Randolph, Massachusetts, 02368, Assessor’s Parcel ID # 64-A-022.00 consisting of land with a structure.
The Restarick Avenue Parcel is vacant land located off Restarick Avenue in Randolph, Massachusetts known as Assessor’s Parcel ID # 64-A-023.
The Property includes the right to use all easements appurtenant to the Property in common with others, if any, entitled thereto. The Town will retain all existing easements of record to the Town that are located on the Property.
The subject is improved by a 13,687± sf building, formerly known as the James M. Hurley Senior & Veterans Center. The building is currently vacant.
The underlying zoning district for these parcels is Residential High Density (RH/RSFHD)
The property is also eligible for development under the Union Crossing Transit Overlay District (UCTD) which permits higher density residential living combined with commercial opportunities.
In 2018, Massachusetts Governor Charlie Baker submitted 138 tracts for Opportunity Zone designation to the U.S. Treasury Department to encourage long-term investment in eligible Massachusetts communities. An Opportunity Zone is a designated geographic area in which individuals can gain favorable tax treatment on their capital gains by investing those funds (through a privately-created Opportunity Fund) into economic activities in the area.
The subject parcel is located within an Opportunity Zone. Use this link to learn more:OPPORTUNITY ZONE
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In order to qualify and bid at the auction, one must be present with a bank check in the amount of $50,000. Your deposit must be in the form of a bank check made payable to the “TOWN OF RANDOLPH ”. NO PERSONAL or BUSINESS CHECKS WILL BE ACCEPTED. In addition to the required deposit at the auction, an additional deposit increasing the total deposit to 10% of the purchase price is due within 5 business days of the auction (January 29, 2021). The remainder of the purchase price must be paid by February 21, 2020 by bank check, money order or attorney IOLTA check. A 3% Buyer's Premium will be added to the sales price.
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