DEVOLOPMENT OPPURTUNITY-MUNJOY HILL

Vacant Land for Sale
Catylist Listing ID: 30458016
Property Subtypes: Multi-Family, Office, Residential (Single Family), Retail, Other
Gross Land Area: 0.22 Acres
Sale Price: $1,495,000
Unit Price: $6,795,454 Per Acre
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 8/12/2019

Overview / Comments

One of the best development sites in Portland with some of the best views in Southern Maine. Enjoy proximity to in-town & a host of life-style and
recreational choices while taking in panoramic city skylines, Back Cove, white mountains and amazing sunset views. Located in the flexible B1-B Zone, a
generous 10,000+/- sf the lot could house up to 22 (maybe 23) units and a mix of residential and business (restaurants, bars, retail, office, etc). Due to it's B
(business) versus R (residential) zoning the limitations on how big and tall you can build are less. For example there are no side, rear or front lot line
setbacks - so you can build a very large structure. Max height is 45' allowing for 1 floor of commercial use and 3 more floors of residential. Looking for a
smaller project - renovate the current home or build a 3-4 unit. This is one of the best opportunities in one of America's best cities - don't wait. Showings
Monday-Friday 10-4, by appointment, 24+ hours notice required.

Attachments & Media

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $3,392 (Annual)

Additional Details

Nearest MSA: Portland-South Portland
County: Cumberland
Tax ID/APN: PTLD-000010-000000-A016001
Zoning: B1-B
Property Visibility: Excellent
Largest Nearby Street: Congress Street
Site Description: One of the best development sites in Portland with some of the best views in Southern Maine. Enjoy proximity to in-town & a host of life-style and recreational choices while taking in panoramic city skylines, Back Cove, white mountains and amazing sunset views. Located in the flexible B1-B Zone, a generous 10,000+/- sf the lot could house up to 22 (maybe 23) units and a mix of residential and business (restaurants, bars, retail, office, etc). Due to it's B (business) versus R (residential) zoning the limitations on how big and tall you can build are less. For example there are no side, rear or front lot line setbacks - so you can build a very large structure. Max height is 45' allowing for 1 floor of commercial use and 3 more floors of residential. Looking for a smaller project - renovate the current home or build a 3-4 unit. This is one of the best opportunities in one of America's best cities - don't wait. Showings Monday-Friday 10-4, by appointment, 24+ hours notice required.
Lot Frontage: 124
Topography: Gently Sloping
Available Utilities: Electric, Water, Gas, Sewer, Cable, Internet Access
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,365 74,352 114,926
Median Age: 34.06 37.85 39.33
Households: 6,891 34,907 51,395

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