FOR SALE15.08 ACRES
Listed by Doug Martin, Keller Williams Realty-Metropolitan, (603) 232-8282
375-391 Civic Center Drive
Augusta, ME 04330
(on 15.08 acres)
Local Information
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Listing courtesy of Doug Martin
Keller Williams Realty-Metropolitan, (603) 232-8282
Source: PrimeMLS, MLS#4986918
Description
This exceptional opportunity presents a fully-approved site for a 250-unit multi-family rental housing development that is "Shovel Ready." The package includes a significant property tax reduction and architectural plans, along with two street front Retail / Commercial sites valued at a total of $750,000. Situated approximately 4,000 feet west of I-95 on Civic Center Drive, at the intersection of Leighton Rd. The current approved plans feature 125 X 1 Bed Jr, 118 X 1 Bed, and 8 X1 Bed plus units, along with 36 covered garage spaces. While the residential configuration and site plan can be adjusted, the plan has been meticulously crafted by a renowned architectural firm to mirror the projects in Biddeford and Lebanon, NH. The approvals from both the City and State for Tax Increment Financing and a Credit Enhancement Agreement (TIF/CEA) will reduce property taxes by approximately 65% for 25 years, yielding over $315,000 annually to the Net Operating Income (NOI). The State Department of Environmental Protection (DEP) has pre-approved the project under the Site Location Development Act (SLODA), enabling immediate construction commencement without facing a delay of up to one year. The project is inspired by "The Marek" concept pioneered by Saxon Partners, implemented in various communities across the East Coast and as far west as Colorado. It boasts amenities such as a fitness center, home office area, bistro bar, secure bike and package storage, sidewalks to the nearby Augu
Home Highlights
Parking
No Info
Outdoor
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A/C
Contact Manager
HOA
None
Price/Sqft
No Info
Listed
53 days ago
Home Details for 375-391 Civic Center Drive
Active Status |
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MLS Status: Active |
Interior Features |
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Appliances & Utilities Utilities: Phone, High Speed Intrnt -Avail |
Gas & Electric Electric: At Street |
View No View |
Exterior Features |
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Frontage Road Frontage: Public, Other |
Water & Sewer Sewer: Public Sewer |
Farm & Range Frontage Length: Road frontage: 500 |
Days on Market |
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Days on Market: 53 |
Property Information |
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Property Type / Style Property Type: LandProperty Subtype: Unimproved Land |
Building Building Name: The Marek |
Price & Status |
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Price List Price: $6,500,000 |
Location |
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Direction & Address City: AugustaCommunity: The Marek |
Agent Information |
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Listing Agent Listing ID: 4986918 |
Lot Information |
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Lot Area: 15.08 Acres |
Documents |
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Disclaimer: The listing broker's offer of compensation is made only to other real estate licensees who are participant members of PrimeMLS. |
Compensation |
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Buyer Agency Commission: 2Buyer Agency Commission Type: %Sub Agency Commission: 0Sub Agency Commission Type: $ |
Notes The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed |
Miscellaneous |
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Mls Number: 4986918 |
Price History for 375-391 Civic Center Drive
| Date | Price | Event | Source |
|---|---|---|---|
| 03/05/2024 | $6,500,000 | Listed For Sale | PrimeMLS #4986918 |
| 04/02/2021 | $750,000 | Sold | Maine Listings #1312400 |
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Comparable Sales for 375-391 Civic Center Drive
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.94 | Lot/Land | $55,000 | 09/22/23 | - | - | ||
1.92 | Lot/Land | $296,000 | 01/31/24 | - | - | ||
2.05 | Lot/Land | $70,000 | 02/23/24 | - | - | ||
2.10 | Lot/Land | $175,000 | 10/06/23 | - | - | ||
2.32 | Lot/Land | $50,000 | 07/07/23 | - | - | ||
2.33 | Lot/Land | $50,000 | 07/07/23 | - | - | ||
2.84 | Lot/Land | $110,000 | 02/16/24 | - | - |
What Locals Say about Augusta
- Incubusgal05
- Resident
- 3y ago
"the elementary schools are incredible!! There are a lot of public parks and amazing family friendly walking paths. "
- Molly B.
- Resident
- 3y ago
"It is quiet, people are friendly, and I feel safe! The park is at the top of my street which is great for my kiddos!"
- Cheryl C.
- Resident
- 3y ago
"There are plenty of trails and parks In the area where you can walk dogs and there is a great dog park. "
- Cheryl C.
- Resident
- 3y ago
"Dog owners will love this area! There is a great dog park here and there are always people walking the neighborhood streets with their dogs."
- Scottboyington02
- Resident
- 3y ago
"Easy commute to my employer. Additionally I have access to numerous roads, highways and access to major points in the State. Roads are cleared in the winter efficiently "
- Scottboyington02
- Resident
- 3y ago
"Plenty of places to walk. Plus there is a dog park in the city. There are sidewalks, side streets, woods"
- Marci
- Resident
- 4y ago
"I've lived in this neighborhood for 20 years and the neighbors are friendly and the schools are great for my kids. My family is from this area so I plan on staying in this area for a while."
- Melissa L. S.
- Resident
- 4y ago
"They should put more stuff in for fun for family's and children instead of bars and food places !! There are a lot of people wanting more in Augusta especially to b safe and have fun especially with our children and grandchildren ❤️"
- Cheryl C.
- Resident
- 4y ago
"Commuting is easy, traffic is light, access to the interstate is close and roads are well maintained. "
- Melissasevery41
- Resident
- 4y ago
"sand hill LOT of trouble including thieves and weirdos that like to come up to u not knowing them with a huge machete trying to hurt you !!!!! Animals getting run over on purpose having crappy landlords and kicking u out for no reason!!!!! building u live in as I do just found out it should have been condemned and will if not fixed ALOT of that going on in Augusta!!!!"
- TJB
- Resident
- 4y ago
"Drug addicts and drunks for neighbors, no real industrial sector - only jobs are in medical field or fast food / retail. Taxes are extremely high. I have never lived anywhere else that had taxes this high. We plan on moving as soon as we can. Coming to Augusta was a mistake."
- Vanessa McEwen
- Resident
- 5y ago
"I've lived in Augusta for the last 3 years and I love how convenient everything is and how friendly folks are. the rent is reasonable and easy to find."
- Tim
- Resident
- 5y ago
"A quiet neighborhood but close to everything! I have enjoyed my time here, there is no traffic, only the residents."
- Sammantha.chase
- Resident
- 5y ago
"Waterfront Wednesday in downtown Augusta. It’s fun, hearing the music, walking around, and seeing people "
- Janniedurr
- Resident
- 5y ago
"I feel safe with my neighbors. I enjoy the proximity to everything here. Lots of options for local nightlife. The local YMCA isn’t far, which is convenient. "
- Kristy L. C.
- Resident
- 5y ago
"The school is wonderful & Augusta is a nice community. There is a wonderful Recreation program thru the city also!"
- Kristy
- Resident
- 5y ago
"Lots of community events & downtown has many new businesses revitalizing the city! There are a variety of shops, restaurants, and employment opportunities here!"
- Cmrobillard
- Resident
- 5y ago
"Since the day I moved in I have been welcomed by many of my neighbors and have been very lucky to make some great friends. We all look out for each other. The area is very nice as well, close to an arboretum, ball fields and also the city of Augusta and it's conveniences. "
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Doug Martin, Keller Williams Realty-Metropolitan
Copyright 2024 PrimeMLS, Inc. All rights reserved.
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2024-02-12 14:37:28 PST.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
375-391 Civic Center Drive, Augusta, ME 04330 is a lot/land. This property is currently available for sale and was listed by PrimeMLS on Mar 5, 2024. The MLS # for this home is MLS# 4986918.