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V O L . X X I I I N O. X X V I I N OV E M B E R 1 3 , 2 0 1 7 12 B U S I N E S S M A I N E B U S I N E S S M A I N E B U S I N E S S N E W S F RO M A RO U N D T H E S TAT E Representing businesses, developers, and individuals including • Residential and Commercial Real Estate • Municipal and Land Use Issues • Business Planning/ Formation • Construction • Banking/Finance • Wealth – Estate Planning and Probate • Litigation • Employment York County's Largest Full-Service Law Firm www.bergenparkinson.com Kennebunk: 207-985-7000 62 Portland Road Kennebunk, ME Saco: 207-283-1000 144 Main Street Saco, ME Package of historic buildings in Bath on market for $1.49M B y L a u r i e S c h r e i b e r B A T H — Sea captains and their families once lived in homes that line Washington Street, overlooking the Kennebec River. Now four of those historic homes, plus a historic church, are up for purchase as a package. Michael Atienza, an associate with Magnusson Balfour Commercial & Business Brokers, has listed the properties on behalf of owner William Moore, who also owns and operates Moore Painting Inc., a Brunswick painting contractor. The former homes and former church all date to 1900 or earlier. Today they house offi ces and multi- residential units. Across from Bath Iron Works, they're a combined 13,305 square feet on a combined 1.87 acres. Together, they're listed at $1.49 million. In all, the properties generate over $250,000 in annual rental income, or $176,000 after expenses, said Atienza. Atienza lives in Bath and said he's been honing his focus on the area's potential. "The fact that you can fi nd historic buildings that make money and generate income for investors is very attractive," he said. The properties are at 606-682 Washington St.: 606 Washington St., Deering House, built approxi- mately 1900, and the Wesley Street Church, at 662 Washington and built in 1880, are rented by Alion Science and Technology. Alion is a defense contractor headquartered in McLean, Va., that last year won a $145 million contract to support the Navy's Arleigh Burke (DDG 51) shipbuilding program at BIW. 658 Washington, Rogers House, built in 1880, is a two-unit residential building. 676 Washington, Vollner House, built approximately 1900, is a single-family home. 682 Washington, Petit House, built in 1928, State Farm Insurance occupies part of the space and two offi ces are vacant. The homes feature details like marble fi replaces, original wood beams, tin ceilings and exterior pillars. "They all have the beautiful, eclectic look, like all the old sea captain's houses in Bath," noted Atienza. Moore, reached at his home in Brunswick, said that, in addition to his painting business, he's a long- time real estate investor. He bought the properties in 2002 from BIW, which had used the former homes for offi ces and the former church as a mess hall. "These seemed like a good deal," he said. "They needed a lot of work. I did the work." Moore said he enjoys commercial real estate invest- ment, but said that for him it was simply time to sell these properties. Atienza said it should be easy to fi nd an investor for the package, considering the income it generates. "He's looking to make a quick sale," he said of the owner. Atienza said the likeliest buyer will be an experi- enced investor who wants a turn-key income-generating operation. "I think it's likely that it will be someone who's local or close enough to be able to manage the properties, if they're going to be their own manager," he said. "If it's someone further outside of the city or out of state, it will be someone who will want to hire a property manager." He's had numerous inquiries already. "For multi-unit investment properties, if they're priced right, they sell really quickly," he said. B R I E F The fact that you can find The fact that you can find The fact that you can find The fact that you can find The fact that you can find The fact that you can find The fact that you can find The fact that you can find The fact that you can find The fact that you can find The fact that you can find The fact that you can find The fact that you can find The fact that you can find historic buildings that make historic buildings that make historic buildings that make historic buildings that make historic buildings that make historic buildings that make historic buildings that make historic buildings that make historic buildings that make historic buildings that make historic buildings that make historic buildings that make historic buildings that make money and generate income for investors is very attractive. — Michael Atienza Magnusson Balfour

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