I am putting some commercial land up for sale next to my park in coastal Belfast, ME. This listing is going live on MLS Monday. Thought I’d throw this out there incase anyone on the forum is interested.
Stats on the City:
8,842 population
$35,000 median income
$184,000 median home price
-Very active economic development office…they are constantly approving TIF districts and applying for development grants etc.
-The city completed a study revealing it has a 150 unit affordable housing deficit
-Belfast has been on an upward trajectory in every aspect…There are fast food restaurants nearby, Hannafords Market down the road, the Waldo County General Hospital is about 1 mile away, The airport is across the street, Tractor Supply is down the road. Nordic Aquafarms is building a $500 million facility down the road that will bring potentially hundreds of jobs to the area.
-The city is located on the waterfront and downtown is walking distance from the land.
Details on the land:
-zoned commercial (general use B)
-sale comes with complete engineering package for 31 lots
-access to city water and city sewer
-large access road with gravel entrance has been installed
-Comes with DEEP NRPA Tier 1 permit
-Comes with DEEP Stormwater permit
-Comes with Army Corps permit
-Planning board has approved the 31 lot park development and is very friendly toward the project
-Driveway and sewer connection permit has already been paid/applied for
-Total land for sale is approximately 19+/- acres (I am getting it surveyed)
-I have a quote from a reputable contractor for the project at about $46k/lot construction costs
My experience:
-The city has been very friendly toward my MHP and is excited about this project should it get off the ground.
-I filled my park using the CASH program which worked extremely well. I sold about 6 homes last year and could have sold many more if I had the open lots to fill.
I am selling this for $575,000 which is the fair market value of the land. If an MHP investor/developer buys it then they get all the engineering, permits, legal, and time I spent over the last 4 years getting the project shovel ready at no additional cost.
I have an exclusive listing agreement with a local realtor. I am not going to reveal the contractor or send out the plan sets via email. Serious inquiries only. I am happy to answer questions on here or via PM. Serious buyers will have to work with my realtor and I will furnish any and all documentation on the project and the land through her. I am not interested in selling my park that is next to this parcel since I invested more in Capex than I could recover in a sale which would mean a buyer would have to overpay in order for me to determine selling it to be worthwhile. I expect this to sell quick but if it does not then I’ll probably complete the project myself down the road. Right now my focus is elsewhere.
Mike