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.

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

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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

Contact

Photograph of Listing Agent

Michael Rogers

Bean Group NECPE Member
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