Business- Office - Manufacturing- Residential

Office for Sale
Catylist Listing ID: 30565980
Property Subtypes: Executive Suites, Governmental, Mixed Use, Flex Space, Office Building, Other
Building Size (RSF): 11,383 SF
Gross Building Area: 12,684 SF
Gross Land Area: 10,825 SF
Sale Price: $1,558,000
Unit Price: $136.87 PSF
Ceiling: 14 ft.
Property Use Type: Investment, Business
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/26/2020

Overview / Comments

Situated in the heart of Biddeford and located next door to the $50 million redevelopment of the Lincoln Mill soon to be 148 luxury apartments and hotel this cannot be overlooked. Currently used as professional office space this location in the MSRD 1 zone providesmultiple business or residential opportunities. This two story well maintained brick building offers tremendous visibility with 193' of frontage on Main Street. The lower daylight level has its own entrance access to off street parking is is a wide open space. Rent the office space upstairs and run your business downstairs. The offices are multiple smaller offices that will work even during social distancing, and the lower level could be a pub, retail, or manufacturing. Offers, FHA heat and central AC, natural gas, sprinkler system, and 4 bathrooms, 22 on site parking spaces plus additional parking on street and a corner location. The MSRD1 zone allows for restaurants, indoor theater, shopping, retail and residential. The location is walking distance from The Palace Diner, Elda's Restaurant and multiple coffee shops and breweries. Biddeford is 2 hours from Boston, 20 minutes to Portland, and 15 minutes to the Kennebunks. The area offers public transportation, municipal airport, Amtrak, University of New England and Southern Medical Center. Invest in Maine's youngest and fastest growing city. A great place to live, work & play.

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $8,641 (Annual)
Tax Value Land $132,400
Tax Value Improvements $300,100
Assessed Value - Total($) $432,500 (Annual)
Potential Rental Income $133,000 (Annual)

Additional Details

Nearest MSA: Portland-South Portland
County: York
Tax ID/APN: 71-5-1
Zoning: MSRD 1
Property Located Between: Corner of Lincoln and Main Streets near Biddeford City Theater and City Hall
Property Visibility: Excellent
Highway Access: Easy access to Maine Turnpike via Exit 32 Biddeford or Exit 36 Saco.
Airports: Portland Jet Port PWM / Biddeford Municipal Airport B19
Site Description: Downtown Main Street location.
Area Description: Fastest growing city in Maine, and youngest city in Maine.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 5,413 SF
Year Built: 1877
Year Renovated: 1999
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Brick
Parking Type: Surface
Parking Description: 10 parking spaces on the building's property and 12 deeded parking spaces as part of an easement on the abutting land nearby.
Total Parking Spaces: 22
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central, Ceiling Units
Air Conditioning: Engineered System
Interior Description: Main Street level is several office spaces, with bathrooms in the center of the space The Lower Level has daylight full windows and wide open area approx 3000sf, separate entrance, lobby and restrooms, 3 offices and storage.
Zoning Description: MSRD1 - Main Street Residential District, allows restaurants, office space, retail, convenience stores, hotel, financial institution, etc.
Lot Frontage: 193 +/-
Lot Depth: 80' +/-
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities, Other
Easements Description: Parking easement for 12 spaces, Right of Way for access and various utility easements
Land Ownership: Owned

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 18,427 34,380 51,243
Median Age: 37.86 41.32 41.35
Households: 8,223 14,991 21,778

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