50 Davis Street, Presque Isle, ME 04769

$1,150,000

Virtual Tour

https://www.propertypanorama.com/instaview/mreis/1573361

Property Type: Commercial Square Footage: 708 Lot Size (sq. ft.): 417,305 Status: Closed

Current Price: $1,150,000 List Date: 9/28/2023 Last Modified: 1/16/2025

Overview

Description

Presque Isle Mobile Home Park is an excellent turnkey investment property located in the middle of the beautiful town of Presque Isle, Maine - the largest town in Northern Maine above Bangor. This Mobile Home Park is the largest park in Northern Maine with 85 Licensed Pads, a single-family home, and situated on 9.58 acres. Public water & sewer and private paved roads. Seller is also offering a credit of $50,000. This will help cover the cost of a new sewer line (estimated replacement is $20,000) and help fill vacant lots with new homes. Great opportunity for profit growth! Consistent occupancy and a waiting list for prospective tenants. Presque Isle is located on the border of USA and Canada. Economically, it has gone through the strongest upswing in decades. The subject property presents a prime investment with an actual in going Cap rate of 8% with an enormous opportunity to create upside by bringing in more homes to rent. Northern Maine, particularly Presque Isle, has a classic New ... (Read more)

Listing Details MLS# 1573361

Location Information

Street #: 50
Street Name: Davis
Street Type: Street
County: Aroostook
Town: Presque Isle
State/Province: ME
Zip Code: 04769
Leased Land: No
Book: 5788
Page: 73
Map: 44
Lot: 57
Zoning: MHP
Full Tax Amount $: 14224
Tax Year: 2022
Association Y/N: No

Contract Information

Original List Price: 1650000

Property Information

Primary Use: Multi Family
Surveyed: Unknown
Deed: All
SqFt Finished Total: 708
Lot Size Acres +/-: 9.58

Status Change Info

Pending Date: 2023-10-10
Closed Date: 2024-01-04
Closed Price: 1150000

Commercial Bldg Information

Gross Income: 210600
Operating Expenses: 77486
Total Units: 85

Utilities

Utilities On: Yes

More Information

Location

Mobile Home Park: Yes
Near Shopping: Yes

Property Uses

Mobile/Trailer Park: Yes

Parking

Assigned: Yes
On Site: Yes

Electric

On Site: Yes

Gas

No Gas: Yes

Sewer

Public Sewer: Yes

Water

Public: Yes

Property Features

Location: Mobile Home Park; Near Shopping Property Uses: Mobile/Trailer Park Parking: Assigned; On Site Electric: On Site Gas: No Gas Sewer: Public Sewer Water: Public

Documents

Property Disclosure Public Access ›

IDX

Listing Office: The Dot Fernald Team, Inc.

Selling Office: The Dot Fernald Team, Inc.

Last Updated: January - 16 - 2025

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