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    255 Payne Rd Scarborough, ME 04074

    For Sale
    $1,995,000

    51.7 Acres, Mixed-Use Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 51.7-acre development site in Scarborough, Maine, presents a unique investment opportunity. Located at 255 Payne Rd, 04074, the property boasts five access points along Payne Road and 200 feet of frontage on Whipple Lane. Zoned Haigis Parkway & R2, it includes approximately 15 acres of uplands and 50 acres within the Haigis Parkway Zone, with the remaining 1.7 acres in the R2 Zone. Comprehensive due diligence materials are available, including a wetlands study, vernal pool study, concept plan, and site survey. Municipal water, sewer, and natural gas services are readily accessible. The site benefits from a prime location near established businesses such as Costco, Cabela's, IDEXX, and numerous residential developments, including Whipple Woods and The Beacon at Gateway. The property's APN is R040/026. This expansive parcel offers significant potential for a variety of mixed-use developments. The asking price is $1,995,000.

    Property Features for 255 Payne Rd

    General Information

    Property type
    Land
    Lot Size
    2,252,052 SF
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Scarborough
    County
    Cumberland
    State
    Maine
    Longitude
    -70.368827627318
    Latitude
    43.600030908556

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    FAQs

    What type of property is this?
    Land - 51.7 Acres, Mixed-Use Potential
    Where is this land located?
    The property is located at 255 Payne Rd Scarborough, ME.
    What is the asking price?
    The asking price for this property is $1,995,000.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    255 Payne Rd Scarborough, ME 04074
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