642-644 Main Street

Vacant Land for Sale
Catylist Listing ID: 30774450
Property Subtypes: Multi-Family, Residential (Single Family), Self Storage, Other
Gross Land Area: 8.50 Acres
Sale Price: $999,999
Unit Price: $117,646 Per Acre
In Opportunity Zone? Yes
Land Splits Available: Yes
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 11/23/2021

Overview / Comments

Rare opportunity to acquire 8.5 +/- acres (more available) with high density of 1,000 square feet per residential unit for age-restricted (55+) and disabled use. Sufficient land to construct up to 200 residential units, subject to engineering and approvals.

Daily vehicle traffic count approaches 20,000, and I195 exit is two blocks south.

The allure of the Opportunity Zone Federal Investment Program is a further incentive.

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.

Purchase price is conditional upon approved residential units.

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: 200
Part of Planned Development?: 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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