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  5. ›Sale and Development of Real Estate Parcels: 841, 843…

City of Saco·Maine

Sale and Development of Real Estate Parcels: 841, 843, 847, 849, 853 Portland Road

Closes 12/8/2021$1.1M – $4MRequest for Proposal
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Description

The City of Saco is offering six contiguous parcels (approximately 65 acres) on Portland Road for sale and subsequent development. The city seeks a purchaser/developer who can present a comprehensive development plan that maximizes economic impact, includes job creation estimates, and meets the minimum purchase price of $1.1 M. Proposals must include a highest‑and‑best‑use statement, detailed business and site‑development plans, proof of financial capability, and an offer price. The sale will be conveyed via quit‑claim deed on an “as‑is, where‑is” basis, with no warranties from the city. Evaluation will focus on the economic benefits, price offered, and the completeness of the proposal package.

Attached files

Contact

Denise M. Clavette(Economic Development Director)

[email protected]

(207) 282-3487

Key dates

Opened
11/10/2021
Questions due
11/24/2021
Closes
12/8/2021
Projected award
1/12/2022

Last updated

Details

Type
Request for Proposal
Industry
Real Estate
NAICS
531110

Budget estimate

$1,100,000 – $4,000,000

The city’s minimum acceptable purchase price is $1,100,000 for the entire parcel set, and historic sales suggest a market value near $4 million. A qualified developer could submit an offer anywhere between the floor price and the historic valuation, likely ranging from $1.1 M up to $4 M depending on financing, proposed development, and negotiation. Therefore, the expected cash flow from the contract (the amount the developer would pay the city) is estimated between $1.1 M and $4 M.

AI estimate from the solicitation

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