47 East Grand Avenue
Vacant Land
for Sale
Also listed as Office, Multi-Family
| Catylist Listing ID: |
30827728 |
| Property Subtypes: |
Multi-Family, Office, Retail, Other
|
| Gross Land Area: |
5,550 SF
|
| Sale Price: |
$775,000 |
| Unit Price: |
$139.64 PSF |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
1/13/2023 |
Overview / Comments
45 & 47 East Grand Avenue are listed as a package at $775,000.
Buyer-developer has two business opportunities for the 5,550 +/- SF lot improved with two buildings; 1) Raze both buildings and construct a mixed-use three-story building with a business on the first floor and four residences upstairs and on-site parking; or 2) Raze 45 East Grand Avenue building to provide much needed on-site parking to serve 47 East Grand Avenue.
47 East Grand Avenue is improved with a mixed-use two-story building comprising a 2,000 +/- SF restaurant on the first floor and a rooming house on the upper floor with ten bedrooms, three baths, kitchen and porch. Second floor has housed summer workers for many years. The dearth of nearby housing yields pricing power for the buyer-owner.
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Additional Details
| Nearest MSA: |
Portland-South Portland |
| County: |
York |
| Submarket Type: |
Central Business District |
| Tax ID/APN: |
2798 |
| Zoning: |
DD-2 |
| Site Description: |
Level lot improved with two buildings. |
| Lot Frontage: |
75 |
| Lot Depth: |
74 |
| Topography: |
Level |
| Available Utilities: |
Electric, Water, Gas, Sewer, Cable, Internet Access |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
2,775 |
17,245 |
49,423 |
| Median Age: |
45.69 |
46.22 |
42.46 |
| Households: |
1,416 |
7,943 |
21,171 |
|
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