Developers Take Notice!

Vacant Land for Sale
Sale Pending
Catylist Listing ID: 29835417
Property Subtypes: Residential (Single Family), Other
Status: Pending
Gross Land Area: 12.60 Acres
Sale Price: $129,000
Unit Price: $10,238 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/26/2020

Overview / Comments

DEVELOPERS TAKE NOTICE!! Great development opportunity to complete The River Estates Condominium Development, located on Kennebec Drive in Farmingdale. The site is close to the state capital, shopping, and the Kennebec River. This is a permitted subdivision with +/- 12.60 acres on 4 parcels of land. The plan is approved to build an additional 17 units. All the infrastructure is in place. The land cost percentage to total development cost is in the range of 12 to 15%. All that is needed is for a developer to construct the condominium units.

Attachments & Media

Additional Details

Nearest MSA: Augusta-Waterville
County: Kennebec
Tax ID/APN: 28/19/11,12,& 15
Site Description: The sites consist of 4 parcels on +/- 12.60 acres. Three are wooded and one is a field. Two parcels are located on Kennebec Drive, which is a paved town road. Two parcels are located on Violet Drive, which is a gravel road. All the infrastructure is in place.
Lot Frontage: 1
Zoning Description: No comprehensive zoning plan
Available Utilities: Electric, Water, Gas, Sewer

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,319 11,458 30,015
Median Age: 41.6 43.95 43.43
Households: 1,458 4,987 13,222


Photograph of Listing Agent

Dennis Wheelock

Magnusson Balfour/KW Commercial a div. of Keller Williams Realty
NECPE Member
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