Mixed-Use Waterfront Income
For Sale
$789,000
14 Lakeshore Drive, Belgrade, ME 04917
Three rented apartments plus a vacant storefront and an additional rented mobile home with shared Long Pond frontage.
Property Size4,500 SF
Price / SF$175.33
Days on Market183
Property Features for 14 Lakeshore Drive
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Multi-family
Building Details
Year Built
1973
Listing Agency:
Century 21 Nason Realty
Listed By:
Kim Moxcey
(207) 242-2674
Source:
Profoundrealestate
Added: Apr 12
Changed: Oct 11
Last Checked: Oct 11 at 9:04AM
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 Century 21 Nason Realty
Investment Insights
Based on property information with market context.
This mixed-use income property includes three separate living spaces that are configured as apartments and currently rented. The seller also retains a storefront commercial space that is kept vacant. In addition to the primary building, the property features an older, well-kept mobile home that is rented. The owners built the current home in 1973 on the original site of the former Belgrade Hotel, which was lost in 1956, and it later operated as the family’s Village Peddler Gift Shop for 40 years.
The location is in the heart of Belgrade Lakes Village, with access to Long Pond via shared frontage. The shared frontage provides a practical outdoor amenity for residents and guests, and the property is described as a short walk to the waterfront area.
For investors or owner-operators, the layout supports multiple income streams through the rented apartments and rented mobile home, while also offering an on-site commercial component that can be tailored for a business venture since it is currently vacant. As configured, the property can also fit a live-in-and-earn approach if a buyer prefers to occupy one of the residential units while maintaining other rental spaces.
The location is in the heart of Belgrade Lakes Village, with access to Long Pond via shared frontage. The shared frontage provides a practical outdoor amenity for residents and guests, and the property is described as a short walk to the waterfront area.
For investors or owner-operators, the layout supports multiple income streams through the rented apartments and rented mobile home, while also offering an on-site commercial component that can be tailored for a business venture since it is currently vacant. As configured, the property can also fit a live-in-and-earn approach if a buyer prefers to occupy one of the residential units while maintaining other rental spaces.
Key Highlights
- Owners built in 1973; home includes 3 separate rented living spaces (3 apartments).
- Additional commercial storefront on‑site is kept vacant.
- An older mobile home on the property is rented out.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,254
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,005,080
$1.0M
Cap Rate 7%
$717,914
$717.9K
Cap Rate 9%
$558,378
$558.4K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$72.9K $16.20/SF
− Vacancy
−$1.1K −$0.25/SF
EGI
$71.8K $15.95/SF
− OpEx
−$21.5K −$4.79/SF
NOI
$50.3K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,005,080
Cap Rate 7%
$717,914
Cap Rate 9%
$558,378
Alternative Uses
Best Use
Multifamily LT 5
$717.9K
$628.2K – $837.6K
NOI $50,254 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$626.2K
$548.0K – $730.6K
NOI $43,837 @ 7.0% cap · market cap 5.56%
Theoretical Best
Warehouse
$6.71M
$5.87M – $7.83M
NOI $469,949 @ 7.0% cap · market cap 59.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 04917, ME
3,259
Population
2,261
Households
1.4
Avg Household Size
49
Median Age
46%
College-Educated
98%
High-School Grad
42.7 sq mi
ZIP Area
76
Density / Sq Mi
$86,021
Median Household Income
$41,846
Median Earnings
$868
Median Rent
$304,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Three rented apartments plus a vacant storefront and an additional rented mobile home with shared Long Pond frontage.
Where is this quadplex located?
The property is located at 14 Lakeshore Drive Belgrade, ME.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Owners built in 1973; home includes 3 separate rented living spaces (3 apartments).; Additional commercial storefront on‑site is kept vacant.; An older mobile home on the property is rented out.
