Description
The Shapiro Brothers Building (an entire city block) was previously a 4 story building - retail shops and offices on the brick bottom level, and 3 floors of apartments above. Since a fire many decades ago, it is one floor BRICK with 3 long term tenants, but the possibilities to go vertical with construction here again would be within the grasp of a capable developer or entrepreneur, and according to the City of Auburn, since there is city parking lot less than 1,000ft away, no additional parking needs to be factored in if bringing apartments back to this building is planned. A new owner could increase the CAP rate by raising rents to market rate even if the desire to rebuild vertically wasn't of interest. This location is desirable for food Services/Restaurant, Bar, Coffee shop, Retail, etc. Come join the New Auburn revitalization!
-
0BEDS
-
0.13ACRES
-
0BATHS
-
01/2 BATHS
School Ratings & Info
Description
The Shapiro Brothers Building (an entire city block) was previously a 4 story building - retail shops and offices on the brick bottom level, and 3 floors of apartments above. Since a fire many decades ago, it is one floor BRICK with 3 long term tenants, but the possibilities to go vertical with construction here again would be within the grasp of a capable developer or entrepreneur, and according to the City of Auburn, since there is city parking lot less than 1,000ft away, no additional parking needs to be factored in if bringing apartments back to this building is planned. A new owner could increase the CAP rate by raising rents to market rate even if the desire to rebuild vertically wasn't of interest. This location is desirable for food Services/Restaurant, Bar, Coffee shop, Retail, etc. Come join the New Auburn revitalization!
Listing data is derived in whole or in part from the Maine IDX & is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.
© 2022 Maine Real Estate Information System, Inc. All Rights Reserved. Data last updated: 2022-05-21T23:47:43.463.
