34 Arundel

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Property Description:

Diversified Income Property With Income Expansion Availability ! Two large buildings on 2.54 acres with parking for 42 cars. The front building consists of three levels of commercial or residential space or both offering 6,900 SF above grade & 2,640 SF of a partially finished basement with a full walk out stairway on each end of the building. The front building is fully sprinklered. The front tenant pays the heat & electricity. The rear building consists of 5,936 SF, two levels of living space offering Four-3 bedroom ”loft style” apartments & a one car garage. The electricity & heat are included in the rear buildings monthly rent. The front building is currently being leased as a daycare mainly occupying the 1st level & the outside playground. The 2nd fl, 3rd fl & basement levels are empty & have room for ”major income expansion”. The current leases are below market rate. The front building has a floor plan for 6 apartments. Zoning will allow for 10 apartments total. This property would also make a great 10 unit condo conversion offering very large loft style units, or an office building, restaurant or a combination of uses. 3 minute drive to Kennebunkport’s Dock Square & Beaches. Many different options for the creative investor. Great existing tenants. Very nice property & well maintained. Terrific location. Well worth previewing! Seller will contribute towards buyers closing costs.

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Price:
$2,100,000
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Address: 34 Arundel RoadCity: Arundel
State: MEBuilding Area Total: 15164

Home Features

Basement: Walk-Out Access, Full, Sump PumpConstruction Materials: Wood Siding, Clapboard, Wood Frame
Cooling: NoneFlooring: Wood, Vinyl
Heating: Radiant, Forced AirInterior Features: Storage
Lot Size Square Feet: 110642.4Parking Features: 21+ Spaces, On Site, Paved
Roof: Metal, PitchedSewer: Private Sewer
Water Source: PublicYear Built: 1996
List Office Name: Realty Sales Inc

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