375-391 Civic Center Dr, Augusta, ME, 04330

$6,500,000

15.08 Acres
Land

Location

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Property Highlights

Home TypeOther
ParkingOther, On Site, Off Street
MLS #1589555
Lot Size15.08 Acres
StatusActive

About 375-391 Civic Center Dr

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.

Property Details

Property Features

Listing Office:

  • Office Name: Keller Williams Realty Metropolitan
  • Office Phone: (603) 232-8282

Exterior Features

Parking Information:

  • Parking: Other, On Site, Off Street

Lot Features

Lot Information:

  • Lot: Level, Open Lot
  • Lot Size: 15.08 Acres

Price Information

Listing Price Info

Price Summary:

  • List Price: $6,500,000
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MLS Details

MLS Information:

  • MLS Name: Maine Listings
  • MLS Number: #1589555

Listing Office:

  • Office Name: Keller Williams Realty Metropolitan
  • Office Phone: (603) 232-8282

IDXDisclaimer: Based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings. Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. Copyright © 2024 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 10/31/2024, 8:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

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$32.5K

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Rate/APR

7.5% / 6.68%

Total Monthly Payment

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NMLS#3030

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-837878
1
/10

  • Sylvio J Gilbert School

  • 1 Sunset Ave

  • 0.60 miles

  • Public District Grades PK-6

school-card-donut-837879
4
/10

  • Lincoln School

  • 30 Lincoln St

  • 1.62 miles

  • Public District Grades KG-6

school-card-donut-837880
6
/10

  • Lillian Parks Hussey School

  • 12 Gedney St Ste 2

  • 1.86 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

All data provided by Home Junction and Claritas

Living In Augusta, ME

Content displayed has been generated by an AI model trained on a diverse range of data. While efforts have been made to ensure the quality and reliability of the content, there may be limitations or inaccuracies. The content should not be considered as a substitute for professional advice, and we recommend consulting with appropriate experts and independent sources for specific information or guidance. We assume no responsibility for any consequences arising from the use of this content.

What type of housing is available in Augusta, ME?

Augusta's housing market offers a diverse array of options, with single-family homes being a significant presence. Architectural styles in the area range from classic New England colonials to more contemporary designs, reflecting the city's historical roots and modern growth. The market is balanced with a mix of older homes that exude character and newer constructions that cater to modern living standards. While the exact homeownership rate is subject to current market trends, Augusta traditionally has a healthy balance of homeowners and renters.

Is Augusta, ME a good place to live?

Augusta, the state capital, is celebrated for its rich historical significance and serene riverfront setting. The community prides itself on a blend of governmental activity and small-town charm, offering residents a peaceful yet vibrant lifestyle. Annual events and local festivals reflect the city's cultural identity and provide opportunities for community engagement.

Are things conveniently located in Augusta, ME?

The community is served by a number of public schools, ensuring educational opportunities for children of all ages. Healthcare services in Augusta are anchored by the local hospital, which provides a range of services including emergency care and specialized treatments. The city's public library system supports lifelong learning and community activities. Retail and dining options in Augusta reflect the local culture, with a mix of independent businesses and familiar chains.

What does the transportation in Augusta, ME look like?

Augusta's transport infrastructure includes a network of roads and highways that connect residents to nearby cities and attractions. Public transit options are available, offering residents alternatives to private vehicle use. The city's layout encourages walkability in certain areas, particularly in the downtown district, while other parts of the city are more car-dependent. Ride-sharing services are operational in Augusta, complementing the existing transportation options.

Frequently Asked Questions About 375-391 Civic Center Dr

What is the listing price of this property?

The listing price of 375-391 Civic Center Dr property is $6,500,000.

What type of property is this?

The property 375-391 Civic Center Dr is land located in Augusta, Maine, 04330.

Is this property for sale now?

Active Listing: 375-391 Civic Center Dr is For Sale (Active/New) which means the seller is accepting offers.

How much acreage is this property?

The property 375-391 Civic Center Dr is 15.08 acres.
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Rocket Homes›Maine›Kennebec County›Augusta›04330›375-391 Civic Center Dr

This home is located at 375-391 Civic Center Dr in Augusta, ME and zip code 04330. This home sits on a 15.08 acre lot. It has been listed on Rocket Homes since January 01, 1970 and is currently priced at $6,500,000.

From Rocket Homes Real Estate and based on county public records data.

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