Entity Owned Property summary
This exceptional mixed-use property at 12 Washington Street in Biddeford, Maine, presents a lucrative investment opportunity. The building, constructed in 1939 and encompassing 12,978 square feet on a 0.08-acre lot (APN: Map 38, Lot 350), features a blend of commercial and residential space. The ground floor houses a thriving restaurant, The Dunn Bar Irish Pub, operating under a 5-year lease with two renewal options, ensuring consistent rental income. Above the commercial space, five brand new residential units provide additional revenue streams. The residential units consist of three two-bedroom apartments and two three-bedroom apartments, all recently renovated. The three-story building is zoned MSRD1. This property offers a unique combination of established commercial tenancy and modern residential units, making it an ideal investment for those seeking a diversified portfolio. The property's location in Biddeford, York County, Maine (Zip code 04005) provides excellent access to local amenities and a vibrant community. This is a turnkey investment opportunity with strong potential for future growth and appreciation. The property is owned by Trunorth Development LLC.
Property profile
VerifiedCap rate & NOI
Current use
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Restaurant
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Restaurant
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Restaurant
Value estimations
Owner & transaction history
Zoning & alternative use
o nonresidential uses are subject to site plan review. [Amended 2-2-2010 by Ord. No. 2009.98 ] n. Main Street Revitalization District Zones (MSRD): [Amended 2-2-2010 by Ord. No. 2009.98 ; 4-16-2013 by Ord. No. 2013.24 ]…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
MSRD1 · Biddeford, MEo nonresidential uses are subject to site plan review. [Amended 2-2-2010 by Ord. No. 2009.98 ] n. Main Street Revitalization District Zones (MSRD): [Amended 2-2-2010 by Ord. No. 2009.98 ; 4-16-2013 by Ord. No. 2013.24 ]…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for MSRD1 in Biddeford, ME.
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