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1376-1382 North High Street
Bridgton, ME 04009
$1,500,000
Conventional
Property
Bedroom
--
Bathroom
--
Property Type
Conventional
Square ft
4224
Property Description
*LEASE OPTIONS AVAILABLE* Ideally placed between Bridgton and Fryeburg, just off Route 302 is this charming neighborhood store, newly built restaurant & 1850's farmhouse. Fitted for all the essentials, this general store has two working gas pumps, plenty of parking, and a 50-seat restaurant with state-of-the-art equipment. Above the restaurant is the staff breakroom and office, with a bathroom, kitchenette and laundry. The store and restaurant, separated through the dishwashing room, share a kitchen, with a service window into the dining room for quick service. Cool colors and gold finishes, custom-made wooden tables and bar top, lots of windows and natural light. With 20 taps and brand-new walk-in coolers, all you need are the kegs to get this party started. Across the parking lot is the 1850's cape where you can live and work or rent out to your staff! Through the front door you'll find the original wide-plank floors running through the kitchen and dining room, with a slider to the large deck. Gorgeous wooden beams run through the ceiling, showing off the historic construction. In the living room is a monitor heater an oversized woodstove that will keep the whole house warm, even in the deep of Winter. The large full bathroom is home to the laundry and access to the partial basement, where the furnace and updated water heater are located. The first-floor primary bedroom has a half bathroom and large closet, and there are two large bedrooms up the stairs. Additional improvements include 2 RV hookups for your friends & family, a hard-wired & covered generator, ATM machine, ice cooler, plenty of storage and more. This turn-key property is ready to be taken over by new ownership! Within minutes to the base of Pleasant Mountain Ski Resort, Downtown Bridgton, & Downtown Fryeburg. One hour to Portland, 30 minutes to North Conway, & the only store within the area! Become the new Stewards of this amazing property with endless opportunity in a growing community.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Commercial
Year Built
1850
MLS Number
1578555
Location
Address
1376-1382 North High Street
City
Bridgton
State
ME
Zip Code
04009
County
CUMBERLAND
Listing
Provider
Oberg Insurance & Real Estate Agency Inc., original listing
Name
Oberg Insurance & Real Estate Agency Inc.
Phone
(207) 647-5551
Office Name
Oberg Insurance & Real Estate Agency, Inc.
Office Phone
(207) 647-5551
Agent Name
James Oberg

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.