Excellent Development Opportunity

Vacant Land for Sale
Catylist Listing ID: 30854743
Property Subtypes: Multi-Family
Gross Land Area: 17.88 Acres
Sale Price: $725,000
Unit Price: $40,548 Per Acre
Sale Terms: Purchase Money Mortgage
Cap Rate: Undisclosed
Last Updated: 5/28/2024

Overview / Comments

Excellent development opportunity – approved for up to 400 residential units!!! Civic Center Drive location, 17.88 acres, over 500 feet of road frontage, surveyed with site plans. Near Interstate 95, Maine General Hospital, the new VA Home, Marketplace Mall, Augusta Civic Center, etc. A great location for multifamily housing, city water and sewer, wonderful building parcel with scenic and pleasant westerly views. Architectural plans/prints available for 2 buildings, a 32 unit – 4 story building, and a 10-unit Townhouse. A rare find - a large development site for new apartments – there is a big need for more housing! Condominiums are also a possibility. Create your own residential neighborhood with a portfolio of multifamily buildings. May be a good candidate for affordable housing with Maine State Housing program. Call for more details. A great investment opportunity! Broker owned.

Additional Details

Nearest MSA: Augusta-Waterville
County: Kennebec
Tax ID/APN: 11020_00005 00029 00000
Zoning: COMMERCIAL
Property Visibility: Excellent
Site Description: Excellent development opportunity – approved for up to 400 residential units!!! Civic Center Drive location, 17.88 acres, over 500 feet of road frontage, surveyed with site plans. Near Interstate 95, Maine General Hospital, the new VA Home, Marketplace Mall, Augusta Civic Center, etc. A great location for multifamily housing, city water and sewer, wonderful building parcel with scenic and pleasant westerly views. Architectural plans/prints available for 2 buildings, a 32 unit – 4 story building, and a 10-unit Townhouse. A rare find - a large development site for new apartments – there is a big need for more housing! Condominiums are also a possibility. Create your own residential neighborhood with a portfolio of multifamily buildings. May be a good candidate for affordable housing with Maine State Housing program. Call for more details. A great investment opportunity! Broker owned.
Lot Frontage: 500+ ft

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,252 9,790 21,195
Median Age: 44.14 42.28 44.07
Households: 547 4,610 9,732
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