The Breakwater at Long Island

Special Purpose for Sale
Also listed as Business Opportunity, Vacant Land
Catylist Listing ID: 29971737
Building Size (RSF): 11,000 SF
Gross Building Area: See Agent
Gross Land Area: 5.35 Acres
Sale Price: $3,650,000
Property Use Type: Vacant/Owner-User
Usable Size (USF): 11,000 SF
Sale Terms: Cash to Seller
Last Updated: 1/25/2018

Overview / Comments

The Breakwater at Long Island, is a unique offering located on the west end of Long Island. This property has been privately owned by the same family since 1964. It is a large 5.35 acres piece located in the Island Business Zone. An existing 11,000 SF former Navy Barracks sits on a hill with sweeping views of the Atlantic Ocean. In addition, there is a working wharf and a large breakwater with 257,000 SF of deeded submerged land between the breakwater and the shoreline. There is opportunity to further develop the existing wharf as well as potential uses for a marina, aquaculture site or other development. The submerged lands are owned in fee simple and do not require a lease from the State of Maine.

Additional Details

Nearest MSA: Portland-South Portland
County: Cumberland
Taxing Authority: Long Island, Maine
Property Located Between: On Long Island, an island outside of Portland, Maine
Property Visibility: Excellent
Largest Nearby Street: Island Avenue
Airports: Portland International Jetport
Site Description: Distinctly original offering located on the west end of Long Island and a short walk from the ferry. This property is zoned for a Business use. Most of the property is located overlooking the beautiful Atlantic Ocean. Site Characteristics: A portion of the 2.3 acre waterfront parcel's front section is gradually sloping toward the water; the 301 upland parcel is mostly flat. Site has been cleared and has good drainage. There is a well on the property and a new septic system will be required. Additional development on submerged lands require approvals but no lease payments will be necessary to either the State of Maine or Town of Long Island.
Area Description: With easy access from Portland, ferries land at the modern public wharf on Long Island, 300' from the Breakwater property. Long Island is like a step back in time - laid back, unhurried and informal. One of Maine's 15 islands with a year round community, the island is 3 miles long by 3/4 mile wide and has a winter population of 230 swelling to approximately 1200 in the summer. Long Island is noted for its scenic beauty and numerous public and private sand beaches, one of which is a 3 acres state park. The island boasts picturesque harbors and a 125 acre conservation area complete with a fresh water marsh, beavers, turtles, ducks and deer. This Area is popular for walking, biking, ice skiing and cross country skiing. The Breakwater property abuts this conservation land. The island is a self-governing municipality maintaining its own elementary school, library, community center, fire and rescue department emergency boat and solid waste transfer station. The real estate tax rate on Long Island is approximately 65% lower than that of Portland. Access between Portland and Long Island is excellent as the island is served year round by public ferry with up to 12 round trip ferries per day during the summer months. Additionally, the island is served by four water taxi companies that provide on-demand 24 hour service. Lastly, public floats and wharves are maintained to allow access by private boat.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 5,500 SF
Property Condition: Excellent
Roof Type: Gable
Construction/Siding: Wood Frame
Exterior Description: This building was previously a Barracks building for the U.S. Navy during World War II. Building could be rehabbed if developer desires to do so
Parking Type: Surface
Sprinklers: None
Zoning Description: This is zoned for Business use.
Lot Frontage: Approximately 750' of water frontage
Water Service: Well
Sewer Type: Septic
Easements: Electric Lines
Easements Description: There is a public easement over paved roads only.
Land Ownership: Owned
Legal Description: Subject property is a 5.36 acre land parcel with structures and 5.91 acres of submerged land. The property is comprised of three contiguous tax lots as follows: Lot 501, an approximate 2.35 acre waterfront lot with 750' of shore frontage, and a 100' wharf on pilings and a 435' stone breakwater (Map 97-A-2); Lot 301 - An approximate 3.01 acre upland lot which includes an approximate 11,000 SF, 2 story building (formerly known as the Barracks). (Map 97-B-2); Lot 538 - An approximate 5.91acre lot consisting of submerged land.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 301 3,127 45,007
Median Age: 52.01 52.15 40.26
Households: 129 1,372 20,742
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