Bought with Paul McInnis • Paul McInnis LLC
$950,000
$645,000
47.3%For more information regarding the value of a property, please contact us for a free consultation.
11,074 SqFt
SOLD DATE : 03/16/2016
Key Details
Sold Price $950,000
Property Type Commercial
Sub Type Hospitality,Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 11,074 sqft
Price per Sqft $85
MLS Listing ID 4469011
Sold Date 03/16/16
Construction Status Existing
Year Built 1926
Annual Tax Amount $10,106
Lot Size 5.000 Acres
Acres 5.0
Property Description
LISTED PRICE IS ASSESSED VALUE NOT AUCTION PRICEMortgagees and Secured Partys Sale atAuctionMulti-Unit Rental PropertyRedevelopment OpportunityUS Route 1, Kittery, MaineK/A Litson VillasWednesday, February 3rd at 11:00 a.m.On-Site and Online BiddingSituated on US Route 1, this property has frontage on two streets consisting of 5 acres serviced by town water and sewer. Currently operating as a Motor Court rental property which includes the main office residence, a 2 bedroom gambrel style home, (22) one bed cabins, (3) two bed cabins, (2) three bed cabins and a 24 by 30 laundry building. Most cabins are 14 x 20 and 9 are efficiencies. Zoning is B-L (Business Local). This property has a long solid history of daily and weekly rental income both on and off-season given the close proximity to the Kittery Outlets. The mortgagee and former owner estimates the annual potential gross income to be approximately $400,000 per year at 75% occupancy.
Location
State ME
County Me-york
Area Me-York
Zoning BL
Exterior
Exterior Feature Vinyl Siding
Building
Sewer Public
Water Public
Construction Status Existing
Others
Special Listing Condition Buyer Registration Reqd, Reserve Auction, Sold As Is
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