Mixed-Use Property with
For Sale
$450,000
47 Main Street, Belgrade, ME 04917
Commercial and residential components span the main floor, upper level, and daylight basement.
Property Size1,937 SF
Lot Size0.55 Acres
Price / SF$232.32
Days on Market966
Property Features for 47 Main Street
General Information
Standard status
Active
Size
1,937 SF
Lot size
0.55 Acres
Property subtype
Commercial
Zoning
Village
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,699
Amenities
deck
laundry room
Building Details
Building Size
1,937 SF
Year Built
1920
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
LAER
(207) 622-2220
Listed By:
Julie Peacock
(207) 446-7227
Source:
Amerorealty
Added: Mar 11, 2024
Changed: Oct 31
Last Checked: Oct 31 at 2:35PM
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 LAER
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Investment Insights
Based on property information with market context.
This 1,937-square-foot mixed-use property occupies a 0.55-acre double lot. The first floor contains a physical therapy office, while the upper floor has a one-bedroom apartment with a deck and lake views. A printing business operates in the daylight basement, which also provides storage and a laundry room. The building dates to 1920 and is zoned Village.
Located at 47 Main Street in Belgrade, the property is near shopping, restaurants, a golf course, and lake views. On-site parking and a rear ramp provide access to the building.
Located at 47 Main Street in Belgrade, the property is near shopping, restaurants, a golf course, and lake views. On-site parking and a rear ramp provide access to the building.
Key Highlights
- 1,937 square feet on a 0.55‑acre double lot
- First‑floor physical therapy office and one‑bedroom apartment upstairs
- Daylight basement includes a printing business, storage, and laundry room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,382
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$547,640
$547.6K
Cap Rate 7%
$391,171
$391.2K
Cap Rate 9%
$304,244
$304.2K
Market Conditions
NOI Build-Up for 1,937 SF
Gross rent
$41.8K $21.60/SF
− Vacancy
−$5.3K −$2.75/SF
EGI
$36.5K $18.85/SF
− OpEx
−$9.1K −$4.71/SF
NOI
$27.4K $14.14/SF
Area
Kennebec County, ME
Vacancy
12.74%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$547,640
Cap Rate 7%
$391,171
Cap Rate 9%
$304,244
Alternative Uses
Best Use
Office B
$391.2K
$342.3K – $456.4K
NOI $27,382 @ 7.0% cap · market cap 6.08%
Second Best
Healthcare Medical
$374.4K
$327.6K – $436.9K
NOI $26,211 @ 7.0% cap · market cap 5.82%
Theoretical Best
Warehouse
$2.89M
$2.53M – $3.37M
NOI $202,287 @ 7.0% cap · market cap 44.95%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
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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 Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial and residential components span the main floor, upper level, and daylight basement.
Where is this mixed-use property located?
The property is located at 47 Main Street Belgrade, ME.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,937 square feet on a 0.55‑acre double lot; First‑floor physical therapy office and one‑bedroom apartment upstairs; Daylight basement includes a printing business, storage, and laundry room
