Bought with The Dot Fernald Team, Inc.
$1,150,000
$1,650,000
30.3%For more information regarding the value of a property, please contact us for a free consultation.
708 SqFt
SOLD DATE : 01/04/2024
Key Details
Sold Price $1,150,000
Property Type Commercial Sale
Sub Type Multi Family
Listing Status Sold
Square Footage 708 sqft
MLS Listing ID 1573361
Sold Date 01/04/24
HOA Y/N No
Originating Board Maine Listings
Annual Tax Amount $14,224
Tax Year 2022
Lot Size 9.580 Acres
Acres 9.58
Property Description
Presque Isle Mobile Home Park is an excellent turnkey investment property located in the middle of the beautiful town of Presque Isle, Maine - the largest town in Northern Maine above Bangor. This Mobile Home Park is the largest park in Northern Maine with 85 Licensed Pads, a single-family home, and situated on 9.58 acres. Public water & sewer and private paved roads. Seller is also offering a credit of $50,000. This will help cover the cost of a new sewer line (estimated replacement is $20,000) and help fill vacant lots with new homes. Great opportunity for profit growth! Consistent occupancy and a waiting list for prospective tenants. Presque Isle is located on the border of USA and Canada. Economically, it has gone through the strongest upswing in decades. The subject property presents a prime investment with an actual in going Cap rate of 8% with an enormous opportunity to create upside by bringing in more homes to rent. Northern Maine, particularly Presque Isle, has a classic New England feel of going back in time. Walking distance to the mall, Walmart and Downtown. It is 1 to 2 blocks off the Main Street, which is walking distance to the Banks, Fast Food, & other Main Street Businesses. Come check it out and make it your very own today!
Location
State ME
County Aroostook
Zoning MHP
Direction Get on I-95 N and follow until US-1 N in Houlton. Take Exit 302 from I-95N. Follow US-1 N to Jordan Street in Presque Isle.
Exterior
Garage Reserved, On Site
View Y/N No
Parking Type Reserved, On Site
Building
Lot Description Mobile Home Park, Near Shopping
Sewer Public Sewer
Water Public
Others
Financing Private
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "