3 Grand AveScarborough, ME 04074

Property Details for 3 Grand Ave

Year built

1940

Lot size

1.30 AC

Property size (Sq ft)

7,960 SF

Zone code

22

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

SCAR M:U022 L:123

APU

SCARMU022L123

Description

This exceptional mixed-use property, located at 3 E Grand Avenue in Scarborough, Maine, presents a compelling investment opportunity. The building encompasses a substantial 7,960 square feet of space situated on a generous 1.3-acre lot. Its mixed-use zoning allows for a variety of commercial and potentially residential applications, providing significant flexibility for the discerning investor. The property's prime location in Scarborough offers excellent visibility and accessibility, making it an ideal choice for businesses seeking a high-traffic area. The substantial size of the lot provides ample space for expansion, redevelopment, or additional parking, further enhancing its investment potential. The asking price of $1,895,000 reflects the property's significant size, desirable location, and versatile zoning. This is a rare opportunity to acquire a substantial mixed-use property in a thriving Maine community. Serious inquiries are encouraged to explore the possibilities this property offers. Detailed property information and financial documents are available upon request. Don't miss this chance to secure a valuable asset in a sought-after location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,316,026

  6.5%

  $1,214,793

  7%

  $1,128,022

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,040,054

  Geo Method

  $1,040,054

• Alternative Use

  Use

  Valuation

  Residential

  $1,506,343

  Hospitality

  $1,379,802

  Educational

  $1,147,979

  Medical

  $1,187,460

  Retail

  $1,785,746

Location Insight

City

Scarborough

County

Cumberland

State

Maine

Latitude

43.5412

Longitude

-70.3453

CBSA code

38860

CBSA name

PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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