117 Vaughn Rd Dover-Foxcroft, ME 04426

Property Details for 117 Vaughn Rd

Year built

1846

Property size

63,000 SF

Property type

Commercial real estate

APN

Lot 034, Lot 088

Description

This unique 63,000 square foot, five-story mill building in Dover-Foxcroft, Maine, presents a remarkable redevelopment opportunity. Built in 1846 and renovated in 1912, the property boasts a 12-foot ceiling height, one loading dock, and is situated on a scenic waterfront lot on the Piscataquis River, next to a 36-acre public park. The property is zoned "Village," allowing for diverse uses, and is eligible for significant federal and state historic tax credits, plus local property tax subsidies (TIF) potentially covering 75-90% of annual taxes. A reduced electric rate may also be available due to a nearby hydroelectric generator. The main structure is well-maintained, featuring a 15-year-old rubber roof in excellent condition, sandblasted interior spaces on all five floors, intact windows and doors, and a functioning dry sprinkler system. A reuse study by Archetype Architects and a Phase One environmental assessment are complete, with Phase Two underway. While shoreline zoning may restrict the first floor to non-residential use, initial discussions with state regulators indicate no other significant zoning issues. The property includes a dilapidated structure (not part of the main building) that will likely need removal, creating potential parking. The asking price is $1,660,000 ($26.35/sq ft). APN: Lot 034, Lot 088. This is an exceptional investment opportunity with substantial potential for affordable housing and community development.