13-31 Market SquareHoulton, ME 04730Price: $1,500,000

Unlock the full potential of 13-31 Market Square, a historic gem located in the heart of Houlton, offering a unique opportunity for developers seeking to capitalize on the town's growing demand for affordable housing. This solid and well-preserved building features established commercial space on the first floor, occupied residential units on the second floor, and a vast, open third floor primed for renovation. With a new membrane roof on one of the two buildings and existing rental income, this property presents an ideal hold-and-renovate opportunity with significant potential to increase value. Envision the possibilities: transform the expansive third floor into modern, highly desirable residential units, and maximize the existing structure's footprint to meet the area's urgent need for quality housing. This is more than an investment; it's a chance to reshape Houlton's landscape and create a thriving residential hub within a historic landmark. Explore diverse financing avenues for 13-31 Market Square, including options through Genesis Community Loan Fund, in collaboration with Houlton's Economic Development Director, and potential Community Development Block Grants. The property's location within Houlton's TIF district provides access to valuable financial incentives, and developers can leverage Maine Housing's Low-Income Housing Tax Credit program and Rural Affordable Housing Rental Program. Capitalizing on these resources, in partnership with the Economic Development Director, is crucial for maximizing investment and contributing to Houlton's growing community.