642-644 Main Street
Vacant Land
for Sale
| Catylist Listing ID: |
30774450 |
| Property Subtypes: |
Hospitality, Industrial, Multi-Family, Residential (Single Family), Retail, Retail-Pad, Self Storage, Other
|
| Gross Land Area: |
16.37 Acres
|
| Sale Price: |
See Agent |
| In Opportunity Zone? |
Yes |
| Land Splits Available: |
Yes |
| Adjacent Parcels Available: |
Yes |
| Sale Terms: |
Cash to Seller, Owner Financing |
| Cap Rate: |
Undisclosed |
| Last Updated: |
5/3/2023 |
Overview / Comments
Opportunity to acquire 16.37+/- acres with high density of 1,000 square feet per residential unit permitted for age-restricted (55+) and disabled use to construct estimated 250 +/- residential units, subject to engineering and approvals. This is the highest and best use. Otherwise, density is 7,000 SF/residential unit.
Included in this tract would be the corner pad site created with the new Rt. 1 entrance squared off with Ross Road. Highest and best use for the pad site would be a bank or QSR (quick service retail).
Daily vehicle traffic count approaches 20,000, and I195 exit is two blocks south. Nearby businesses include Sea Salt restaurant (next door), Southern Maine Health, Camden National Bank, Norway Savings Bank, Aroma Joe's and Gorham Bike & Ski, among others. Hannaford's, Starbucks, McDonald's, Wendy's and VIP, et al., are just south of the subject property. Opportunity Zone Federal Investment Program is another benefit.
List price is a placeholder as the purchase price will be determined by a metric of the number of approved residential units and the retail corner pad site.
|
Additional Details
| Nearest MSA: |
Portland-South Portland |
| County: |
York |
| Submarket Type: |
Redevelopment District |
| Tax ID/APN: |
3437 |
| Zoning: |
PORTLAND ROAD |
| Site Description: |
Slopes to small unnamed brook. |
| Lot Frontage: |
190 |
| Part of Planned Development?: |
Yes |
| In Flood Plain?: |
Yes |
| Topography: |
Gently Sloping |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
3,735 |
35,074 |
51,700 |
| Median Age: |
38.19 |
41.41 |
41.84 |
| Households: |
1,733 |
15,834 |
22,045 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither New England Commercial Property Exchange nor
Moody's assume any liability for errors or omissions.
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