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: 9/26/2022

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

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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

Contact

Photograph of Listing Agent

Michael Rogers

Bean Group NECPE Member
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