Catylist ID:
#30667066
| Catylist Listing ID: | 30667066 |
| Property Subtypes: | Government Subsidized, Mid-Rise, Mixed Use, Other |
| Number of Units: | 68 Units |
| Building Size (RSF): | 119,771 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 26 Acres |
| Sale Price: | $2,300,000 |
| Unit Price: | $33,823.53 Per Unit |
| Property Use Type: | Vacant/Owner-User |
| Building Name: | Former Seton Hospital |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 11/23/2021 |
Overview / Comments
|
The Seton Project consists of a former hospital to be redeveloped as a multi-family complex with as few as 56 units and as many as 68 units, along with approximately 35,000 sf of commercial space. The Seton redevelopment project is now being offered for sale with extensive due diligence material, including construction drawings, feasibility studies, federal and state tax credits, and complete environmental due diligence. ⬢ Subject property consists of 26± acres improved with a 6-story, 119,771± sf (per City Assessor) building, located at 30 Chase Avenue in Waterville, ME. ⬢ Plans for the project exist showing potential for 56 to 68 units plus 35,000± sf of office and commercial space. ⬢ Construction drawings, feasibility studies, environmental reports all completed for HUD application, as well as LIHTC consideration. ⬢ Tax credits in place with State of Maine for 25% of the renovation cost, and a Federal credit of 20% of qualified costs, as well as a TIF from the City of Waterville. ⬢ Sale Price: $2,300,000 |
Attachments & Media
Additional Details
| Nearest MSA: | Augusta-Waterville |
| County: | Kennebec |
| Taxing Authority: | City of Waterville |
| Tax ID/APN: | Map 42, Lot 69 |
| Zoning: | SMU |
| Property Located Between: | Chase Ave is off of Lincoln Street |
| Highway Access: | Maine Turnpike |
| Total Number of Buildings: | 1 |
| Property Condition: | Good |
| Number of Stories: | 6 |
| Year Built: | 1965 |
| Roof Type: | Flat |
| Construction/Siding: | Brick |
| Parking Type: | Surface |
| Heat Type: | Steam |
| Heat Source: | Central |
| Fuel: | Oil |
| Air Conditioning: | Engineered System |
| Zoning Description: | Suburban Mixed-Use |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 5,767 | 24,967 | 32,910 |
| Median Age: | 43.33 | 39.55 | 40.81 |
| Households: | 2,492 | 10,398 | 13,649 |
Contact
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