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HOTEL REDEVELOPMENT OPPORTUNITY 25 Alfred St

17,385 SF 100% Leased Retail Building Biddeford, ME 04005 $1,150,000 ($66/SF)

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Investment Highlights

Building was approved as a part of the Biddeford Main Street Historic District
Federal Historic Preservation Tax Credits: This provides a 20% tax credit for the rehabilitation of historic, income-producing buildings that are cert
Historic Preservation Committee (HPC) issued a certificate of appropriateness for a 30-key hotel redevelopment project on September 14th, 2023

National Park Service determined the property to be a “certified historic structure” for rehabilitation purposes
Located within the Maine Street Revitalization District (MSRD 1)
Maine State Historic Rehabilitation Tax Credits: Maine offers a 25% state credit for any rehabilitation that also qualifies for the federal 20% credit

Executive Summary

This historic building offers a prime real-estate redevelopment investment and business opportunity. Municipal approval is in place for redevelopment into a boutique hotel with 30 rooms. This project is endorsed by the Biddeford Historic Preservation Commission and comes with available architectural plans. This project represents a strategic opportunity to capitalize on Biddeford’s downtown dynamic revitalization, contributing to its vibrant future.