1569 Forest Avenue Portland

Vacant Land for Sale
Catylist Listing ID: 30872455
Gross Land Area: 0.40 Acres
Sale Price: $995,000
Unit Price: $2,487,500 Per Acre
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 6/10/2024

Overview / Comments

Development site in the desirable Riverton neighborhood. Just under 1/2 +/- acres with over 1 acres of additional land potentially available. Currently in an R3 Zone that abuts B1 Zone. Changing this parcel to B1 is likely and this opens up all kinds of possibilities and even more with re-code. The lot is level, open and enjoys an existing curb cut and full city utilities. Traffic counts are off the charts so a first floor retail or restaurant are a no brainer. With existing B1 zoning, you can build to 45' and in the proposed zoning it jumps to 50'. Add in the potential for a 2.5X unit bonus (the result of LD2003 if you provide affordable units) and this becomes one of the most attractive sites in Greater Portland.

Additional Details

Nearest MSA: Portland-South Portland
County: Cumberland
Tax ID/APN: 05170_338 M001
Zoning: R3
Site Description: Vacant Land
Lot Frontage: 100

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,954 74,320 115,844
Median Age: 37.81 38.28 38.97
Households: 4,665 32,636 51,742

Contact

© Copyright 2024 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Moody's assume any liability for errors or omissions.