642 Main St Saco, ME 04072
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15-Acre Tract, Multi-Use Potential
Property Features for 642 Main St
General Information
- Property type
- Land
- Lot Size
- 680,407 SF
Listing Agency: EXP REALTY LLC Listing Agent: Michael Rogers
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional 15.62-acre parcel located at 642-644 Main Street in Saco, Maine, presents a remarkable opportunity for developers. Zoned Portland Road, this expansive property is ideally suited for a variety of uses, including age-restricted multi-family housing. Preliminary estimates suggest the potential for over 150 dwelling units, each with 1,000 square feet, based on current zoning regulations. However, increased density to 3,000 square feet per unit is achievable if over 51% of the units are designated as affordable housing (all ages). Beyond residential development, the property also permits hospitality and storage uses, offering significant flexibility for investors. Its prime location is a key advantage, situated just a quarter-mile from Interstate 195 and a Hannaford Supermarket, ensuring convenient access to major transportation routes and essential amenities. Further enhancing its appeal, this property is located within a Qualified Opportunity Zone, offering potential tax advantages. The asking price of $1,650,000 is based on an estimated $11,000 per unit cost. This presents a compelling investment opportunity in a thriving Maine community. The property's size, zoning flexibility, and strategic location combine to create a truly unique development prospect. Serious inquiries are encouraged.
Property Profile
Location Intelligence
Current Use by Public Records
Commercial real estate
Location Insight
- Map
- Local Demand
- City
- Saco
- County
- York
- State
- Maine
- Longitude
- -70.430137387616
- Latitude
- 43.51497910683
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FAQs
What type of property is this?
Land - 15-Acre Tract, Multi-Use Potential
Where is this land located?
The property is located at 642 Main St Saco, ME.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: $1,650,000 asking price for 15.62 acres of land zoned Portland Road in Saco, ME.; Ideal for age-restricted multifamily development with potential for 150+ units at 1,000 sq ft/unit.; Density increases to 3,000 sq ft/unit with over 51% affordable housing.
