Mixed Use Investment Property For Sale
Retail-Commercial
for Sale
| Catylist Listing ID: |
30827606 |
| Property Subtypes: |
Mixed Use
|
| Building Size (RSF): |
6,475 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
0.11 Acres
|
| Sale Price: |
$1,379,000 |
| Unit Price: |
$212.97 PSF |
| Property Use Type: |
Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
5/26/2023 |
Overview / Comments
|
Mixed use investment property located in the heart of downtown Old Orchard Beach within walking distance to the beach. The building consists of two 1,200+/- SF street retail spaces, two large, easily rentable apartments on the second floor, and owner’s residence on the third floor. This is an excellent location that benefits from plenty of foot traffic in the busier months. The current owner has voluntarily chosen to keep units vacant to allow for the greatest amount of flexibility for a new owner to come in and redevelop the property. There is a substantial “value add” opportunity for the owner by working with the Town on the approval of more units.
|
Financials
| Finance Data Year |
2022 |
| Real Estate Taxes - Annual($) |
$6,229 (Annual) |
Additional Details
| Nearest MSA: |
Portland-South Portland |
| County: |
York |
| Tax ID/APN: |
205/3/6 |
| Zoning: |
DD-1 |
| Retail Clientele: |
General, Family, Business, Traveler, Tourist |
| Property Visibility: |
Excellent |
| Feet of Frontage: |
50 |
| Traffic/Vehicle Count: |
4,390 |
| Tenancy: |
Multiple Tenants |
| Total Number of Buildings: |
1 |
| Number of Stories: |
3 |
| Property Condition: |
Good |
| Year Built: |
1910 |
| Year Renovated: |
2019 |
| Parking Type: |
Other |
| Parking Description: |
Public parking on-street and nearby |
| Heat Type: |
Oil |
| Lot Frontage: |
50 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
4,016 |
19,283 |
52,179 |
| Median Age: |
46.91 |
46.04 |
42.4 |
| Households: |
2,051 |
8,810 |
22,281 |
|
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The information presented herein is provided as is, without warranty of any kind.
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