Mixed-Use Waterfront Income
14 Lakeshore Drive, Belgrade, ME 04917
Three rented apartments plus a vacant storefront and an additional rented mobile home with shared Long Pond frontage.
Type:Multi-family
Property size:
4,500 SFPrice / SF:
$175/SF- Added:
- Apr 2, 2026
- Days on Market:
- 98
- Last Refresh:
- Jul 8 at 2:22 am
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 office Century 21 Nason Realty
Listing date Apr 2, 2026
Source Profoundrealestate
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
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.
- Short walk to shared frontage on Long Pond.
- Water frontage is referenced from Book 20, Page 73 (Tobey’s Plan).
Overview
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.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $72.9k | $16.20 |
| − Vacancy | −$1.1k | −$0.25 |
| EGI | $71.8k | $15.95 |
| − OpEx | −$21.5k | −$4.79 |
| NOI | $50.3k | $11.17 |
4,500 SF · lease $16.20/SF/yr · vacancy 1.52% · expense 30.00%
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 local authorities.
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Belgrade
- County
- Kennebec
- State
- Maine
- Longitude
- -69.8865764
- Latitude
- 44.5231289
Nearby Similar for Sale
FAQs
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.
