OLD ORCHARD BEACH – Versatility and a prime central location are just two advantages offered by this property in the heart of downtown – and close to the beach.

For decades, the 5.12-acre site has been home to a family-owned funeral business. Today, repurposing of the facility presents a range of opportunities for the buyer.

Potential uses include office/residential; rentals (short- or long-term, seasonal or year-round); renovation into a modern funeral home; renovating the existing home and adding condominiums or multifamily housing; and creating affordable housing with ground-level parking, and units above. Potential is increased by a location less than a half-mile to Old Orchard’s Beach and town center.

A buyer may well determine that the best use would be a residential cluster development maximizing density on the buildable area nearest Portland Avenue, on which the property has 260 feet of frontage.

At present there are 25 +/- parking spaces. The 3,220-square-foot home, a classic Victorian built c. 1898, is comprised of business space on the first floor, and a three-bedroom, two-bath apartment on the second floor. Improvements include a detached, two-vehicle garage (400 square feet) and an inground pool.

Please note that federal or state historic credits could apply to financing of a restoration. The parcel is in an Historic Overlay District, and divided into Business (GB-1) and Residential (R-1) zoning. A portion of the acreage is wetlands.

The property at 36 Portland Ave., Old Orchard Beach, is listed for sale by Brandon Mitchell of Malone Commercial Brokers in Portland. Please contact Brandon at 207-358-7057, or brandon@malonecb.com.  Visit: www.malonecb.com.