Building Details

Building Size 2,141 SF

Year Built 1989

Stories 2

Listing Agency: Integrity Homes Real Estate Group, PC l***@tmree.com Show Phone

Listed By: Lindsey Brann Show Phone

Source: Startpoint

Added: Oct 29, 2024 Changed: Aug 22 Last Checked: Aug 22 at 2:29PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Integrity Homes Real Estate Group, PC

Investment Insights

Based on property information with market context.

Built in 1989, this mixed-use property combines ground-floor commercial space with an apartment on the second level. The storefront floor includes several additional rooms and a half bathroom, while the upper residence offers 2 bedrooms, 1 bath, and laundry hookups. Interior renovations and general TLC are needed.

The property occupies a 1/2-acre lot on Route 2 in Palmyra, with ample parking and exposure along the roadway. Newport is approximately 7 minutes away, while Bangor and Waterville are each approximately 30 minutes away. Commercial zoning supports the existing mixed-use configuration.

Key Highlights

• 2‑bedroom, 1‑bath second‑floor apartment with laundry hookups
• Ground‑floor storefront with additional rooms and a half bathroom
• 1/2‑acre lot on Route 2 in Palmyra

Property Analytics

Property Profile

Current Use

Storefront properties

Suggested Use

Top Pick HVAC Service Auto Repair Shop Storage Facility Bed & Breakfast Hotel & Motel Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

28

Businesses Nearby

Explore this area Business Placement

Demographics for 04965, ME

1,924

Population

879

Households

2.2

Avg Household Size

49

Median Age

17%

College-Educated

89%

High-School Grad

40.2 sq mi

ZIP Area

48

Density / Sq Mi

$49,261

Median Household Income

$39,821

Median Earnings

$763

Median Rent

$123,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Commercial zoning supports a two-level layout with storefront space below and an apartment above.

Where is this mixed-use property located?

The property is located at 868 Main Street Palmyra, ME.

What is the asking price?

The asking price for this property is $99,000.

What are key features of this property?

This property features: 2‑bedroom, 1‑bath second‑floor apartment with laundry hookups; Ground‑floor storefront with additional rooms and a half bathroom; 1/2‑acre lot on Route 2 in Palmyra