For Sale
$1,350,000

25 Alfred RdBiddeford, ME 04005

Prime Maine Coast Hotel Project, 30-Room Potential

Overview

Added:
Dec 11, 2024
Days on market:
114
Exceptional redevelopment opportunity awaits in Biddeford, Maine. This 23,253 square foot property, situated on a 0.13-acre lot at 25 Alfred Rd, 04005, presents a unique chance to capitalize on the city's revitalization. Built in 1880, the building is officially recognized as a certified historic structure by the National Park Service, and is located within the Biddeford Main Street Historic District and the Maine Street Revitalization District (MSRD 1). On September 14th, 2023, the Historic Preservation Committee (HPC) issued a Certificate of Appropriateness for a 30-key hotel redevelopment project. This approval streamlines the development process, significantly reducing potential hurdles. The project's eligibility for substantial federal (20%) and state (25%) historic preservation tax credits offers significant financial advantages. This presents a compelling investment opportunity to create a boutique hotel in a thriving downtown area, contributing to Biddeford's vibrant future. The property's zoning is MSRD1. Architectural plans are available. This is a turnkey opportunity for a savvy investor to develop a profitable hotel in a rapidly growing Maine coastal community.

Highlights

  • Approved for inclusion in the Biddeford Main Street Historic District.
  • Located in the Maine Street Revitalization District (MSRD 1).
  • Certified historic structure by the National Park Service, eligible for rehabilitation.
  • Historic Preservation Committee (HPC) issued a Certificate of Appropriateness for a 30-room hotel redevelopment on September 14, 2023.
  • Eligible for 20% Federal Historic Preservation Tax Credits and 25% Maine State Historic Rehabilitation Tax Credits.

Property Details for 25 Alfred Rd

Property type
Hospitality properties, Hotels
Square Feet
23,253 SF
Year Built
1880
Lot Size (sq. ft)
5,663 SF

Location Insight

City
Biddeford
County
York
State
Maine
Latitude
43.49197578
Longitude
-70.45409782
25 Alfred Rd, Biddeford, Maine

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25 Alfred Rd
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