Description
Positioned in the heart of Orono--one of Maine's most supply-constrained and consistently high-demand rental markets--this ±4.6-acre development site at 0 Park Street presents a rare opportunity to deliver new construction, townhouse-style student housing immediately adjacent to the University of Maine. Located just steps from The Local and approximately 0.5-0.8 miles (±2-4 minute drive...Fully positioned development site for 30 spacious 2-3BR units in a growing Maine submarket. Marketing description
Positioned in the heart of Orono--one of Maine's most supply-constrained and consistently high-demand rental markets--this ±4.6-acre development site at 0 Park Street presents a rare opportunity to deliver new construction, townhouse-style student housing immediately adjacent to the University of Maine. Located just steps from The Local and approximately 0.5-0.8 miles (±2-4 minute drive / short bike ride) from University of Maine, the property offers an exceptional proximity advantage that is increasingly difficult to replicate. The University enrolls approximately 11,000 students and serves as the state's flagship research institution, driving consistent housing demand across all asset classes. The offering consists of a 4.58-acre level parcel with favorable positioning along Park Street, a primary corridor connecting downtown Orono to campus. The site benefits from existing infrastructure access and is ideally suited for a 30-unit, 2-3 bedroom townhouse-style apartment community, a product type that directly aligns with current renter preferences for larger, modern, off-campus living options. Proven Rental Market Fundamentals
Orono consistently draws renters from both the student population and the broader Bangor region, functioning as a regional service and employment center with more jobs than resident workers--supporting long-term rental demand stability. Scalable Development with Seller Support
The ±4.6-acre site provides the scale and flexibility to execute a cohesive townhome-style community, with the seller willing to support approvals--reducing entitlement risk and accelerating development timelines. NDA to review Engineering Documents.
- Listed by Edward Baldacci • Keller Williams RealtyP: (207)-939-2969 C: (207)-939-2969 ebaldacci@kw.com
Property Details for 0 Park Street
Property Details for 0 Park Street
| Status | Active |
|---|---|
| MLS # | 1661445 |
| Days on Market | 51 |
| Taxes | $82,400 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Property Type | Land |
| MLS Type | Land |
| Year Built | - |
| Lot Size | 4.58 AC |
| County | Penobscot County |
Location
Building Information for 0 Park Street
Payment Calculator
$11,351 per month
30 year fixed, 6.36% Interest
$4,485
$6,867
$0
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1Property Information for 0 Park Street
- Water View: No
- Location: Business District, Near Town, Neighborhood
- Page: 118
- Zoning Overlay: No
- Latitude: 44.895067
- Longitude: -$68.66
- Association: No
- Tax Lot: 42
- Tax Book Number: 9691
- Tax Map Number: 6
- Tax Year: 2024
- Tax Annual Amount: $82,400.00
- Parking Features: No Driveway, 21+ Spaces
- Lot Features: Business District
- Lot Size Acres: 4.58
- Lot Size Area: 4.58
- Lot Size Source: Public Records
- Lot Size Square Feet: 199504.8
- Lot Size Units: Acres
- Roads: Paved
- Tree Growth: false
- Site: Level, Open, Well Landscaped
- Development Status: Proposed
- Property Type: Land
- Deed: All
- Deed Type Offered: Warranty
- List Price/Acre: $196,506.55
- Electric: On Site
- Water Source: Public
Property History for 0 Park Street
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Apr 30, 2026 | Listed (Active) Maine Listings #1661445 | $900,000 | — |
| Dec 19, 2018 | Sold Maine Listings #1319326 | $250,000 | — |
| Aug 28, 2017 | Pending Maine Listings #1319326 | — | |
| Aug 28, 2017 | Active Under Contract Maine Listings #1319326 | — | |
| Jul 26, 2017 | Listed (Active) Maine Listings #1319326 | $298,500 | — |
| Dec 31, 2012 | Expired Maine Listings #1038653 | $325,000 | — |
| Jan 1, 2012 | Listed (Active) Maine Listings #1038653 | $325,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 04/30/2026 | Listed (Active) Maine Listings #1661445 | $900,000 |
| 12/19/2018 | Sold Maine Listings #1319326 | $250,000 |
| 08/28/2017 | Pending Maine Listings #1319326 | — |
| 08/28/2017 | Active Under Contract Maine Listings #1319326 | — |
| 07/26/2017 | Listed (Active) Maine Listings #1319326 | $298,500 |
| 12/31/2012 | Expired Maine Listings #1038653 | $325,000 |
| 01/01/2012 | Listed (Active) Maine Listings #1038653 | $325,000 |
For completeness, we often displays two records for one sale: the MLS record and the public record.
Schools near 0 Park Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Asa C Adams School PublicPK to 5 | ||
Orono Middle School Public6 to 8 | ||
Orono High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Keller Williams Realty
Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. © 2026 Maine Real Estate Information System, Inc. All Rights Reserved.
