Wormell Farm

Vacant Land for Sale
Sale Pending/Contingent
Catylist Listing ID: 29934292
Property Subtypes: Agricultural, Multi-Family, Residential (Single Family), Other
Status: Pending/Contingent
Gross Land Area: 111 Acres
Sale Price: $2,900,000
Unit Price: $26,126 Per Acre
Land Splits Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/18/2019

Overview / Comments

At 111 acres, Wormell Farm is the largest available development site in Greater Portland and located just across Presumpscot River from Portland's Riverside Golf Course. Seller has two conceptual plans: 1) 308 multi-family units; and 2) 192 multi-family units and 75 single-family lots. Plan shows 40 +/- acres of green space and access to 2,210' +/- along Presumpscot River. Conceptual plan requires no change in zoning. Can't get a better location so close to Portland yet retaining its country appeal.

With HUD forecasting Greater Portland’s demand for 4,000 dwelling units through fall 2018, Wormell Farm’s size, layout, features and location make it appealing to developers seeking economies of scale and the option for phased development.

Additional Details

Nearest MSA: Portland-South Portland
County: Cumberland
Tax ID/APN: 019-029
Zoning: RGA-2
Largest Nearby Street: Riverside Street
Traffic/Vehicle Count: 16,080
Site Description: Former Wormell Farm has rolling hills, meadows, brook and 2,210' +/- frontage along Presumpscot River.
Lot Frontage: 3000
Zoning Description: Residential Growth Area 2
Part of Planned Development?: Yes
Development Name: Wormell Farm
In Flood Plain?: Yes
Topography: Rolling
Easements: Pipelines, Electric Lines, Utilities

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 46,655 109,188
Median Age: 40.11 38.35
Households: 19,957 48,325


Photograph of Listing Agent

Michael Rogers

Bean Group NECPE Member
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