189 Anderson Street

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189 Anderson Street

Portland, ME 04101
Asking Price
$745K
Asset Type
Residential Land
Class
Class B

AI Property Summary

Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).

  • Residential land parcel spanning 0.19 acres for sale in Portland
  • Strategically positioned within the active East Bayside neighborhood
  • Zoning designation for the site is currently listed as B-5
  • Comprehensive site plan approvals are already in place for development
  • Asset priced at 745,000 dollars for prospective developers and investors

What's Special

This residential land parcel at 189 Anderson Street is available for sale, presenting a focused development prospect for residential builders and investors in Portland, Maine. Situated in the East Bayside neighborhood, this 0.19-acre site benefits from an established urban environment within a city known for its robust coastal economy and high demand for housing. The property is currently zoned B-5, and the site plan approvals are already in place, facilitating a more streamlined transition toward project commencement. Given the location and the current approvals, the asset is suited for residential construction projects designed to meet the ongoing need for modern living spaces in the metro area. Potential developers can leverage the existing progress to move efficiently through the pre-development phase. East Bayside continues to evolve as a key residential hub, attracting interest from those looking to expand their portfolio in a high-demand regional market.

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NOI
$80,000
Cap Rate
10.74%
DSCR
1.81
Strong
Cash-on-Cash
16.00%
Monthly Payment
$3,685.854
Annual Cash Flow
$35,769.758

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