Augusta, ME Land Property For Sale

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Land for Sale

Augusta, ME 04330

Join Central Maine's most prominent business park containing Maine

General Express Care, Maine Revenue Services, Maine Department of Labor,

Community Pharmacy and Kleinfelder.

Land for Sale

Augusta, ME 04330

This is a unique offering of a pre-approved site for a 250 unit multi-family rental housing development that is "shovel ready." It includes a highly valuble property tax reduction and architectural plans. The property inlcudes two street front commercial sites estimated to be valued at $750,000.

The site is located approximately 4000 feet west of I-95 on Civic Center Drive, at the intersection of Leighton Rd. Current approved plans are for 125 x 1 Bed Jr., 118 x 1 Bed, and 8 x 1 Bed Plus. amd 36 covered garage spaces. The commercial sites are at the lighted intersection of Leighton Road. The estimated total value of these commercial sites is $750,000

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The Concord Trailways Bus station is also at this intersection.

The residential configuration and site plan can be amended, but the plan has been rigorously developed by a prominant architectural firm and matches the Biddeford project which is under construction

The project has already received approval from the City and State for Tax Increment Financing and a Credit Enhancement Agreement (TIF/CEA) which will reduce property taxes by approximately 65% for up to 25 years, thus returning in the range of $260,000 to $300,000 per year to the NOI of the project.

The sale also includes a set of plans for a matching property currently under construction in Biddeford Maine at 60 Barra Road.

The pre-approval by the State DEP under the Site Location of Development Act (SLODA) will allow he project to go into contruction immediately rather than facing a delay of 9 months to one year.

The plan is based on "The Marek" concept being implemented by Saxon Partners in a variety of communities along the east coast and as far west as Colorado. In the Northeast region, one is under contruction in Biddeford, ME and and another in Labanon, NH. These projects are designed to be located near medical facilities and to attract young professionals.

Land for Sale

Augusta, ME 04330

18.82+/- Acres of land ready for development

Access to Civic Center Drive shared with the adjacent Tractor Supply Company

Easy access to Maine Turnpike Exit 112B

Area businesses include The Furniture Gallery, Planet Fitness, Wendy’s, Comfort Inn, 99, Fairfield Inn, Dept. of Motor Vehicles, Social Security Administration, among others.

Sale Price: $795,000

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