Fully Occupied Retail Steps from Pier

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30607648
Property Subtypes: Free-Standing Building, Parking Facility, Restaurant, Other
Status: Pending
Building Size (RSF): 5,288 SF
Gross Building Area: See Agent
Sale Price: $750,000
Unit Price: $141.83 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 9/8/2020

Overview / Comments

We are pleased to present a fully occupied retail building that is fully occupied by Subway, Dewey's Seafood, and Barnett Books and includes 4 dedicated parking spaces in abutting lot. Ideally located steps from Old Orchard Beach’s most visited attraction, The Pier. Situated on a downtown lot, this site offers flexible zoning, which allows for many uses, including multifamily, condominium, and hospitality.
Height restrictions allow for 50’ principal structure (and up to 65’ for turrets and/or copulas). The town of Old Orchard Beach has 9,000 year-round residents and up to 75,000 tourists in the summer months. Located about 3 miles to Route 1 and I-95.

The retail building can also be purchased as part of a package with the abutting 38 space parking lot for $1.5M.

Attachments & Media

Additional Details

Nearest MSA: Portland-South Portland
County: York
Tax ID/APN: 206-32-1
Zoning: DD-1, DOWNTOWN DISTRICT
Retail Clientele: Tourist
Feet of Frontage: 60
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1979
Total Parking Spaces: 4
Parking Type: Surface
Parking Description: 4 dedicated spaces
Lot Frontage: 60
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,016 19,283 52,565
Median Age: 46.91 46.04 42.5
Households: 2,051 8,810 22,476

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