Catylist ID:
#30875184
| Catylist Listing ID: | 30875184 |
| Property Subtypes: | Hotel, Inn |
| Number of Units: | 30 Units |
| Building Size (RSF): | See Agent |
| Gross Building Area: | See Agent |
| Sale Price: | $1,400,000 |
| Unit Price: | $46,666.67 Per Unit |
| Name of Establishment: | Odd Fellows Lodge |
| Sale Terms: | Undisclosed |
| Cap Rate: | Undisclosed |
| Last Updated: | 8/14/2024 |
Overview / Comments
|
This historic building offers a prime real-estate redevelopment investment and business opportunity. Municipal approval is in place for redevelopment into a boutique hotel with 30 rooms. This project is endorsed by the Biddeford Historic Preservation Commission and comes with available architectural plans. This project represents a strategic opportunity to capitalize on Biddeford’s downtown dynamic revitalization, contributing to its vibrant future. Please call Roger Daigle or Alexandra Diaz for details. Roger – 207-650-6611 Alexndra – 207-251-1077 Property Features Building was approved as a part of the Biddeford Main Street Historic District Located within the Maine Street Revitalization District (MSRD 1) National Park Service determined the property to be a “certified historic structure” for rehabilitation purposes Historic Preservation Committee (HPC) issued a certificate of appropriateness for a 30-key hotel redevelopment project on September 14th, 2023. Possible Tax Credits and Upside Federal Historic Preservation Tax Credits: This provides a 20% tax credit for the rehabilitation of historic, income-producing buildings that are certified as historic by the National Park Service. Maine State Historic Rehabilitation Tax Credits: Maine offers a 25% state credit for any rehabilitation that also qualifies for the federal 20% credit. This is known as the "Substantial Rehabilitation Credit.” |
Additional Details
| Nearest MSA: | Portland-South Portland |
| County: | York |
| Tax ID/APN: | 31050_38-402 |
| Zoning: | MSRD1 - COMMERCIAL |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 15,671 | 34,380 | 51,243 |
| Median Age: | 37.26 | 41.32 | 41.35 |
| Households: | 7,113 | 14,991 | 21,778 |
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