602-606 Elm St St Biddeford, ME 04005

This exceptional investment opportunity presents a 2.75-acre corner lot at 602-606 Elm Street in Biddeford, Maine, boasting 8,182 square feet of existing building space. Currently configured as a single-family home and two apartment buildings comprising four units, along with five garages, this property offers significant income potential. The I1 zoning designation unlocks a vast array of possibilities, including hotels, restaurants, contractor storage yards, storage units, warehouses, car washes, banks, various marijuana-related businesses (subject to all applicable regulations), retail spaces, offices, wholesale operations, manufacturing facilities, municipal uses, and bulk oil storage. The expansive backyard provides ample room for expansion, allowing for the addition of further buildings while maintaining the existing rental income stream. The property's strategic location on a corner lot offers exceptional visibility and high traffic counts, further enhanced by its proximity—just one mile—to Interstate 95 and a convenient 20-minute drive to Portland. A potential second driveway access point on Drapeau Street adds to the property's versatility. Current apartment rental rates are significantly below market value, presenting an immediate opportunity to increase profitability. All tenants are on month-to-month leases. A comprehensive list of permitted zoning uses is available upon request. This property represents a rare chance to acquire a highly versatile and strategically located asset with substantial upside potential.