642 Main StSaco, ME 04072

Property Details for 642 Main St

Lot size

15.62 AC

Property type

Residential income properties

Property subtype

Other land

Description

This exceptional 15.62-acre parcel located at 642-644 Main Street in Saco, Maine, presents a remarkable opportunity for developers. Zoned Portland Road, this expansive property is ideally suited for a variety of uses, including age-restricted multi-family housing. Preliminary estimates suggest the potential for over 150 dwelling units, each with 1,000 square feet, based on current zoning regulations. However, increased density to 3,000 square feet per unit is achievable if over 51% of the units are designated as affordable housing (all ages). Beyond residential development, the property also permits hospitality and storage uses, offering significant flexibility for investors. Its prime location is a key advantage, situated just a quarter-mile from Interstate 195 and a Hannaford Supermarket, ensuring convenient access to major transportation routes and essential amenities. Further enhancing its appeal, this property is located within a Qualified Opportunity Zone, offering potential tax advantages. The asking price of $1,650,000 is based on an estimated $11,000 per unit cost. This presents a compelling investment opportunity in a thriving Maine community. The property's size, zoning flexibility, and strategic location combine to create a truly unique development prospect. Serious inquiries are encouraged.

Location Insight

City

Saco

County

York

State

Maine

Latitude

43.515

Longitude

-70.4301

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