With its stunning ocean views and a price tag of less than $300,000, this Maine coastal property would normally be considered a bargain.
However, the listing on Harspwell has one major drawback: it’s just a garage.
But since the property is listed for a price well below the $400,000 cost of a typical Maine home, according to Red finIt could be the perfect project for a creatively minded buyer.
“We have someone interested in the property as a garage,” said Coldwell Banker real estate agent Shirley Wedell. Bangor Daily News.
“The location is amazing. It has access to the water, which is priceless around here.”
A Maine estate on stunning coastal land has hit the market for $300,000
The 576 square foot two-car garage sits on just under an acre of land and has direct access to picturesque Potts Point.
The 576 square foot two-car garage sits on just under an acre of land and has direct access to picturesque Potts Point.
It has stunning views of the Merriconeag Strait and the Atlantic Ocean.
However, real estate agents acknowledge that some “creative” solutions will be required for the septic system.
The property’s sale price is a testament to the high demand for coastal property in Maine right now.
The median home price in the fishing town of Harpswell has soared 12.5 percent to $776,500 in the past year, according to Redfin.
On nearby Bailey’s Island, a property in poor condition was selling for $375,000.
Low inventory combined with high demand has driven out local businesses, according to select board chairman Kevin Johnson.
There are currently only seven properties for sale under $400,000 in the area and just three rental listings, starting at $1,250 per month.
The sale price is considerably less than the median sales price of homes in the area, which is $776,500.
However, the property is only a garage, which currently has no plumbing system.
So far, the garage has accumulated more than 2,000 visits in the Zillow website in just one week.
Coldwell Banker also has some suggestions on how to make the most of it.
They say the property could be used for “car parking or as a hobby building or as a kayak club or as storage.”
‘Replace a garage door with a wall of windows and create an art studio with incredible views,’ the listing says.