261 Main St Auburn, ME 04210
- Commercial real estate
- 0.22 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 261 Main St
- Lot size
- 0.22 lot acres
- Property type
- Commercial real estate
Description
This exceptional 0.22-acre commercial land parcel, located at 261 Main Street in Auburn, Maine (zip code 04210), presents a unique development opportunity. Zoned T4.2 - Traditional Downtown Neighborhood, this city-owned property is ideally suited for mixed-use projects. Its strategic location places it in close proximity to key amenities, including Auburn City Hall, the YMCA, Hilton Garden Inn, TD Bank, and the US Post Office. The property's assessed value is $55,000, with real estate taxes totaling $1,306.25 for the 2020/2021 fiscal year (Assessor's Ref: Map 231, Lot 04). Significant financial incentives are available to developers. Projects generating at least $2 million in assessable value within the district may qualify for a credit enhancement to offset development costs. The Auburn City Council has committed $1 million to downtown redevelopment initiatives, offering a maximum of $250,000 per project for substantial development assistance. Pricing is negotiable, making this an attractive proposition for the right development plan. This is a rare chance to contribute to the revitalization of Auburn's vibrant downtown core.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Auburn
- County
- Androscoggin
- State
- Maine
- Longitude
- -70.2556579
- Latitude
- 44.1114611
