OWN A PIECE OF PRIME REAL ESTATE IN THE BEAUTIFUL STATE OF MAINE U.S.A! This building is 19 minutes to the Canadian Border in NB. This 8,190+/- square foot former bank building is located in Caribou, Maine, a small full service town with the feel of life the way it used to be. The building is located in the center of downtown right across the street from the Post Office, TD Bank and Dollar General so visibility and accessibility is excellent. While this building was previously used as a bank, a travel agency, a church, and a sewing center, it may be repurposed to just about any commercial use. The building also comes with a bank vault, and I have the combination to this. The current property tax valuation is $119,600, market value is much higher and the property taxes run $2,936 per year. This building has had the same owner for over 10 years and he is now retiring. The property address is: 42 Sweden Street Caribou Maine 04736 USA The building has three full levels, with the street level being the only space that has ever been rented. The first floor is 30 feet wide by 91 feet deep (2730 square feet), and the basement and the second floor are 2730 square feet each for a total of 8,190 square feet. The first floor is street level, and it fronts on both Sweden Street and Center Street. This allows for two separate businesses on the first level. The basement is unfinished. The second floor has not been used or upgraded for decades, but it could be remodeled into apartments, lofts or a single residence. The second floor has very high ceilings with the old tin design ceiling.
This property has been priced to sell quickly, and you will not find a building this nice for less money anywhere. I am selling this complete building for only 70,000 USD for quick sale which is less than half it’s actual market value and well below it’s tax appraisal value of $119,600 USD.
This price works out to around $8.50 per square foot, which isn’t much more than the cost of good quality tile flooring! Most commercial buildings in the United States sell for hundreds of Dollars per square foot.
If you chose to buy, a bank draft or wire transfer of $35,000 USD is due within 3 business days, and the balance within 10 business days. The property is free and clear of all liens, the taxes are up to date, and I guarantee clear title. Transfer will be by Warranty Deed. I will handle the closing, and will record the Warranty Deed in the public record. I will cover all closing costs, and the buyer will only be responsible for the 2020 property taxes and beyond. While I would prefer a cash sale, I may consider providing some owner financing with at least a $35,000 USD down payment. The condition of this property is above average, great shape! This is the best time to buy a property when the market is depressed, similar to 2008 U.S. market downturn.
Buy low and hold until the market corrects.
Price: $ 70,000
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