MULTI TENANT INVESTMENT W/ 1st FL OWNER/OCCUPANT OPPORTUNITY

Office for Sale
Sale Pending
Also listed as Retail-Commercial
Catylist Listing ID: 30339840
Property Subtypes: Executive Suites, Office Building, Other
Status: Pending
Building Size (RSF): 3,981 SF
Gross Building Area: 6,623 SF
Gross Land Area: 0.17 Acres
Sale Price: $510,000
Unit Price: $128.11 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: Payne Elwell House
Sale Terms: Cash to Seller, Purchase Money Mortgage, Other
Cap Rate: Undisclosed
Last Updated: 9/20/2019

Overview / Comments

We are pleased to offer for sale the Payne Elwell House located at 162 Main Street in Yarmouth, Maine. The offering includes 3,891 +/- useable square feet with 6,623 total gross square footage. Currently, the entire 1,879 +/- square foot first floor is vacant making this a prime opportunity for an owner occupant looking to have a highly visible business on the Main Street corridor of Yarmouth while obtaining income from multiple office tenants located on the upper levels (12 suites in total with 1st floor).
Built in 1792, the Payne Elwell House offers period details throughout and has been well maintained over the years. Other amenities include mainstream exposure, onsite parking, and highly visible pylon signage.162 Main Street is just off US Route One and minutes from I-295.
In 2018, Yarmouth approved the new Village District Zone allowing for various developments and uses.

Additional Details

Nearest MSA: Portland-South Portland
County: Cumberland
Tax ID/APN: N0265R
Zoning: VILLAGE DISTRICT
Property Located Between: Vesper Street and onramp to US Route One.
Property Visibility: Excellent
Highway Access: seconds from US Route One, minutes to on and off ramps of Exits of I-295, and under 10 minutes to Maine Turnpike.
Airports: Within 20 minutes of Portland International Jetport
Site Description: Beautifully landscaped property in Yarmouth Village with pylon Main Street signage and onsite parking.
Area Description: Property is located in the Heart of Yarmouth Village on Main Street. In close proximity to North Yarmouth Academy, Rosemont Bakery, a new high end condo development, and various restaurants, boutique retail, and general businesses.
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 1,423 SF
Year Built: 1792
Roof Type: Other
Construction/Siding: Wood Siding, Other
Parking Type: Surface
Parking Description: Curb cut with entry road off Main Street with onsite parking in back.
Sprinklers: None
Heat Type: Oil, Other
Heat Source: Baseboard, Other
Air Conditioning: Window Unit, Other
Internet Access: Cable, Other
Interior Description: Interior consists 1st floor (currently vacant and ideal for retail, office, or general business) and rented office suites on upper levels. Total of 12 suites including first floor. Period details throughout.
Zoning Description: Village Zone
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: Easement for some of parking that goes with property as well as access. See Deed.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,256 9,997 24,813
Median Age: 43.26 45.46 45.49
Households: 917 4,149 9,823

Contact

The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.