5,097 SqFt
5,097 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Pending
Purchase Type For Sale
Square Footage 5,097 sqft
Price per Sqft $137
MLS Listing ID 1669414
HOA Y/N No
Year Built 1850
Tax Year 2026
Lot Size 4,791 Sqft
Acres 0.11
Property Sub-Type Mixed Use
Source Maine Listings
Land Area 5097
Property Description
This versatile brick building offers a significant investment opportunity in the heart of town. Combining high-visibility commercial space with immediate residential potential, the property features substantial recent infrastructure upgrades and is being offered at a dramatic price reduction to account for the necessary sprinkler system installation.
Property Highlights
Commercial (1st Floor): 2,472 sq. ft. of flexible space, perfectly suited for retail or professional endeavors.
Residential (2nd Floor): Two newly constructed 2-bedroom, 1-bath apartments featuring high ceilings and expansive, classic windows.
Office (3rd Floor): Dedicated, owner-occupied office space with a private bathroom.
Modern Systems: 10 heat pumps installed in 2024 service the entire building.
Parking: Includes dedicated off-street parking, a premium in-town asset.
Strategic Upside & Expansion
Current town regulations permit one rental unit on the second floor, with the other requiring owner occupancy. The property is priced to reflect the buyer's requirement to install a sprinkler system. Beyond allowing both second-floor units to become fully rentable, the installation of a sprinkler system unlocks further potential for additional apartment units within the building, offering significant long-term growth and income optimization.
Location
State ME
County Hancock
Zoning Downtown
Rooms
Basement Full, Unfinished
Interior
Heating Electric, Oil, Baseboard, Heat Pump, Hot Water, Zoned
Cooling Heat Pump
Flooring Laminate, Tile, Vinyl, Wood
Exterior
Parking Features 21+ Spaces, Paved, Off Street
Waterfront Description Boat Slip,Common,Dock,Nearby,Public
Roof Type Shingle
Building
Lot Description Business District, Downtown, Near Shopping
Story 3
Foundation Stone, Granite, Poured Concrete, Brick/Mortar
Water Public
Others
Tax ID ELLH-000134-000020
Virtual Tour https://www.propertypanorama.com/instaview/mreis/1669414
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