Greenland, NH A 1.59 acre property with a 3,704 s/f building at 780 Portsmouth Ave. (Rte. 33) was sold on June 12 by Jody Skaff of The Kane Company for $415,000.
The property, with access to Portsmouth, as well as I-95 and Rte. 108, featured a Subway and Scoop 33, both now closed, and antique store Once Again, which will remain with the property.
Patti Visconte of the Masiello Group represented the buyer, who plans to refit the former Subway for use as an office.
Skaff represented the seller, Seacoast Subs RE Holdings, LLC, who owns four other Subway franchise units.
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.