63 Broad Street Auburn

Retail-Commercial for Sale
Catylist Listing ID: 30793383
Property Subtypes: Convenience Store, Restaurant, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 10,350 SF
Gross Building Area: See Agent
Gross Land Area: 0.13 Acres
Sale Price: $599,985
Unit Price: $57.97 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: Shaprio Brothers Block
Sale Terms: Cash to Seller
Auction Type: Undisclosed Reserve
Last Updated: 9/25/2023

Overview / Comments

The Shapiro Brothers Building (an entire city block) was previously a 4 story building - retail shops and offices on the brick bottom level, and 3 floors of apartments above. Since a fire many decades ago, it is one floor BRICK with 3 tenants at will (below market rate) and currently one vacancy. Possibilities to go vertical with construction here again would be within the grasp of a capable developer or entrepreneur. A new owner could increase the CAP rate by raising rents to market rate even if the desire to rebuild vertically wasn't of interest. This location is desirable for food Services/Restaurant, Bar, Coffee shop, Retail, CONDO CONVERSION, etc. Come join the New Auburn revitalization!

Additional Details

Nearest MSA: Lewiston-Auburn
County: Androscoggin
Taxing Authority: Auburn
Tax ID/APN: AUBN-000221-000000-000088
Zoning: DTC
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Other
Property Located Between: Route 136 & South Main St. Auburn
Property Visibility: Excellent
Largest Nearby Street: Route 136 Auburn
Highway Access: Interstate 95 - 4.7 Miles
Airports: Portland International Jetport- 34.5 miles
Area Description: Bus Line; Business District; Downtown; Near Airport; Near Shopping; Near Turnpike/Interstate; Public Transport Access; Retail Strip
Tenancy: Multiple Tenants
Property Condition: Good
Year Built: 1933
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Other
Parking Description: Street Parking. Possibility of leased parking spaces across the street if buyer is interested.
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Baseboard, Other
Interior Description: The first unit is currently a barber shop/beauty parlor, Second is used as an office space, Third is being used by a construction company, 4th (VACANT) former printshop that is using the old bank entrance and lobby, and offices behind the lobby.
Lot Frontage: 236 Feet
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned
Legal Description: Map 221, Lot 88

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,769 44,067 61,525
Median Age: 33.92 36.76 38.51
Households: 7,569 18,863 25,977


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