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  5. ›Lease of 350 Norton Ave

Massachusetts City of Taunton·Massachusetts

Lease of 350 Norton Ave

Closes tomorrow$500k – $1MInvitation for Bid
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Description

The City of Taunton is seeking a qualified vendor to lease the former Taunton Nursing Home property located at 350 Norton Avenue. This open market solicitation invites proposals that outline a plan for the reuse or redevelopment of the 6.35‑acre site, which has an assessed value of roughly $16.3 million. Interested parties must register on BidNetDirect, attend at least one of the scheduled site visits, and submit sealed proposals by the bid opening deadline. • Property: 350 Norton Ave, 6.35 acres, former nursing home – potential for residential, mixed‑use, or commercial redevelopment. • Process: Free registration on BidNetDirect, two optional site visits (Aug 17 & Sep 10 2026), sealed proposals due Nov 2 2026 2 PM. • Evaluation: City will consider feasibility, financing, and community impact; contract terms not disclosed, with the possibility of a long‑term lease or development agreement.

Attached files

Contact

Shab Khan(Director of Procurement)

[email protected]

(774) 406-5284

Key dates

Opened
8/5/2026
Pre-bid meeting
8/17/2026
Site visit
8/17/2026
Closes
11/2/2026

Last updated

Details

Type
Invitation for Bid
Industry
Real Estate
NAICS
531190
Solicitation №
BD-27-1168-MAYOR-121-131987

Budget estimate

$500,000 – $1,000,000

The only monetary figure provided is the assessed value of the property ($16.3 M). Assuming a typical lease rate of 3‑6 % of assessed value annually, the city could generate roughly $500k‑$1M per year. Over a typical 5‑10‑year lease term, total contract revenue to the vendor might range from $2.5M to $10M, depending on rent structure, development incentives, and additional services (e.g., property management). Therefore a reasonable estimate for the vendor’s earnings is between $0.5M and $1M annually, or $2.5M‑$10M over the contract life.

AI estimate from the solicitation

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