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    292 Payne Rd Scarborough, ME 04074

    For Sale
    $2,500,000

    Prime Maine commercial development land, excellent location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 25-acre commercial land parcel in Scarborough, Maine, presents a remarkable investment opportunity. Located at 292 Payne Rd, 04074, in Cumberland County, this property boasts a highly desirable General Business B3 zoning designation, allowing for a wide range of commercial development possibilities. The site offers over 1125 feet of frontage on Payne Rd, providing excellent visibility and accessibility. With a daily traffic count exceeding 10,000 vehicles, this location ensures high exposure for any commercial venture. Conveniently situated off the Maine Turnpike (north and south), this property benefits from easy access to major transportation routes. The land is strategically positioned adjacent to established national and global warehouse and distribution facilities, further enhancing its appeal. Its proximity to the Downs development and the planned Costco adds to its significant growth potential. While land development is subject to a DEP wetlands mitigation fee, the substantial size and prime location of this property make it an attractive proposition for developers seeking a high-impact commercial project in Southern Maine. The asking price for this exceptional opportunity is $2,500,000.

    Property Features for 292 Payne Rd

    General Information

    Property type
    Land
    Lot Size
    1,089,000 SF

    HighLights

    • 25‑acre commercial land parcel in Scarborough, Maine.
    • Located at 292 Payne Rd, Scarborough, ME 04074, in Cumberland County.
    • General Business B3 zoning allows diverse commercial development.
    • Over 1125 feet of frontage on Payne Rd with daily traffic exceeding 10,000 vehicles.
    • Excellent access to the Maine Turnpike and major transportation routes.
    • Adjacent to established warehouse and distribution facilities, near Downs development and planned Costco.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Spa & Massage Building Supply Wholesale Shop Auto Repair Shop Clothing Store Nail Salon Pharmacy Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Scarborough
    County
    Cumberland
    State
    Maine
    Longitude
    -70.364493486935
    Latitude
    43.605267929962

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    FAQs

    What type of property is this?
    Land - Prime Maine commercial development land, excellent location.
    Where is this land located?
    The property is located at 292 Payne Rd Scarborough, ME.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: 25-acre commercial land parcel in Scarborough, Maine.; Located at 292 Payne Rd, Scarborough, ME 04074, in Cumberland County.; General Business B3 zoning allows diverse commercial development.
    (207) 650-3455
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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
    292 Payne Rd Scarborough, ME 04074
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