Belmont, NH A 16.5 acre commercial site along Rte. 106 formerly a salvage yard was sold by Jack Murray of Ikan Property Advisors for $450,000. The property will be the 3rd parcel assembled by the buyer near the Lakes Region Community College. The seller was Hopi Corp., and the buyer was Route 106 Realty Trust.
In other areas of the state, Ikan Property Advisors represented a buyer for a mixed-use property that included a restaurant and motel in Gorham, and also assisted a group of investors in the purchase of three investment rehab projects in the seacoast area.
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.