Two-Unit Mixed-Use Building with
For Sale
$450,000
289 Main Street, South Berwick, ME 03908
Mixed-use two-unit building with street-level retail and a two-bedroom apartment above, on Route 236.
Days on Market312
Property Features for 289 Main Street
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Building Size
2,464 SF
Year Built
1850
Listing Agency:
Keller Williams Coastal and Lakes & Mountains Realty
(207) 370-9509
Listed By:
Sean Cody
(207) 370-9509
Source:
Startpoint
Added: Sep 23, 2025
Changed: Jul 30
Last Checked: Jul 30 at 6:24PM
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 Keller Williams Coastal and Lakes & Mountains Realty
Investment Insights
Based on property information with market context.
Two-unit mixed-use building built in 1850 featuring street-level retail and a residential apartment above. The retail space includes large display windows and a flexible layout suited for a shop, café, or office. The upper level is a bright two-bedroom apartment, providing rental income and/or live/work convenience.
The property is located in the heart of historic South Berwick on busy Route 236 near Route 4, offering excellent visibility and steady traffic. Public parking and municipal services are available, with a walkable downtown setting.
This configuration supports a day-to-day tenant or owner-occupant model with retail on the ground floor and residential space overhead.
The property is located in the heart of historic South Berwick on busy Route 236 near Route 4, offering excellent visibility and steady traffic. Public parking and municipal services are available, with a walkable downtown setting.
This configuration supports a day-to-day tenant or owner-occupant model with retail on the ground floor and residential space overhead.
Key Highlights
- Built in 1850 two‑unit mixed‑use building with retail below and apartment above
- Street‑level retail features large display windows and a flexible layout
- Upper level is a bright two‑bedroom apartment
Financial Insights For Apartment 5plus
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 | $73.0k | $29.64 |
| − Vacancy | −$3.8k | −$1.54 |
| EGI | $69.2k | $28.10 |
| − OpEx | −$31.2k | −$12.64 |
| NOI | $38.1k | $15.45 |
2,464 SF · lease $29.64/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$544.0K
$476.0K – $634.7K
NOI $38,079 @ 7.0% cap · market cap 8.46%
Second Best
Mixed Use
$437.2K
$382.5K – $510.1K
NOI $30,603 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$781.1K
$683.4K – $911.3K
NOI $54,675 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
Explore this area
Business Placement
Demographics for 03908, ME
7,468
Population
3,169
Households
2.4
Avg Household Size
41
Median Age
39%
College-Educated
98%
High-School Grad
31.9 sq mi
ZIP Area
234
Density / Sq Mi
$97,927
Median Household Income
$52,008
Median Earnings
$1,535
Median Rent
$385,000
Median Home Value
Market
Properties on Market for Mixed-use properties in York County
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use two-unit building with street-level retail and a two-bedroom apartment above, on Route 236.
Where is this mixed-use property located?
The property is located at 289 Main Street South Berwick, 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: Built in 1850 two‑unit mixed‑use building with retail below and apartment above; Street‑level retail features large display windows and a flexible layout; Upper level is a bright two‑bedroom apartment
