45-47 East Grand Avenue Old Orchard Beach ME 04064
45-47 East Grand Avenue Old Orchard Beach ME 04064

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Listed by Bean Group ((800)450-7784)

Sold by RE/MAX Shoreline
45 & 47 East Grand Avenue are listed as a package at $775,000. Buyer-developer likely has two business opportunities for the 5,550 +/- SF lot improved with two buildings; 1) Raze both buildings and construct a mixed-use three-story building with a business on the first floor and four residences upstairs and on-site parking; or 2) Raze 45 East Grand Avenue building to provide much needed on-site parking to serve 47 East Grand Avenue. 47 East Grand Avenue is improved with a mixed-use two-story building comprising a 2,000 +/- SF restaurant on the first floor and a rooming house on the upper floor with ten bedrooms, three baths, kitchen and porch. Second floor has housed summer workers for many years; last year gross revenue was $64,115. Restaurant didn't operate. 2021 revenue was $69,120, The dearth of nearby housing yields pricing power for the buyer-owner.

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