Approved Multi Family Redevelopment Opportunity

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30724219
Property Subtypes: Mid-Rise, Mixed Use, Other
Status: Pending/Contingent
Number of Units: 21 Units
Building Size (RSF): 8,160 SF
Gross Building Area: See Agent
Sale Price: $1,200,000
Unit Price: $57,142.86 Per Unit
Property Use Type: Investment, Vacant/Owner-User, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/15/2021

Overview / Comments

Handsome historic brick building ideally suited for commercial owner-user, residential conversion or redevelopment. 8,160 +/- SF office/retail building on 22,200+/- SF of land in flexible B-2 zone with frontage on Stevens AVE and Bishop ST. The current owner has obtained planning board approval to convert the existing building to 5-unit mixed-use, and build an additional 16-unit building on the rear of the lot, materials available for review upon request, or from the City's CSS portal. Call for details.

Additional Details

Nearest MSA: Portland-South Portland
County: Cumberland
Tax ID/APN: 05170_293 D014
Zoning: B2
Property Located Between: Bishop Street, Stevens Ave, RT 302
Construction/Siding: Brick
Exterior Description: Historic Brick Building
Parking Description: Large parking lot
Heat Type: Natural Gas
Heat Source: Baseboard
Zoning Description: B2
Lot Frontage: 76.3 SF
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,680 73,047 118,088
Median Age: 39.38 37.55 39.02
Households: 5,534 33,610 52,764

Contact

Photograph of Listing Agent

Chris Sullivan

Vitalius Real Estate Group
NECPE Member
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