34 Arundel Rd Arundel, ME 04046-7549

This exceptional mixed-use property in Kennebunkport, Maine, presents a compelling investment opportunity. Located at 34 Arundel Rd, this 2.54-acre site features two buildings totaling over 12,800 square feet. The main building, a four-story structure (6,900 square feet above grade plus a 2,640 square foot partially finished basement with walk-out stairways), currently houses a daycare on the first floor, leaving significant potential for expansion on the upper floors and basement. A detailed floor plan for six apartments exists, and zoning permits up to ten units, allowing for conversion to a ten-unit condo complex or an office building. The second building offers 5,936 square feet of living space, currently configured as four three-bedroom loft-style apartments, each with a one-car garage. Both buildings are fully sprinklered and offer ample parking for 42 vehicles. Current leases are below market rate, presenting immediate opportunities to increase income. The property enjoys a highly desirable location, just three minutes from Kennebunkport's Dock Square and beaches. The seller will contribute towards buyer's closing costs. This property is well-maintained and offers many options for the creative investor, including a restaurant, office space, or a combination of uses. The APN is 34ArundelRdArundel04046, and the property is zoned TCD. Built in 1996, this property offers a blend of existing income and significant upside potential.