Historic Bed And Breakfast With Carriage
40 Main Street, Limerick, ME 04048
For Sale
$750,000
Commercial Sale, Limerick, ME
Property Size3,770 SF
Lot Size1.20 Acres
Price / SF$198.94
Days on Market97
Property Features for 40 Main Street
General Information
Property type
Property subtype
Zoning
Rooms
Parking features
Basement
Lot features
Standard status
Size
Lot size
Tenancy & Operations
Currently Operating
Business Included
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Water source
Building Details
Year built
Flooring type
Building materials
Roof type
Listing Agency:
Portside Real Estate Group
(207) 536-4222
Listed By:
Alexcia Smith
(207) 227-6959
Added: Aug 2
Changed: Oct 27
Last Checked: Nov 6 at 8:06PM
MLS# 1674464
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The Jeremiah Mason House is an operating bed and breakfast established in 1859, with 3,770 square feet of building area, eight guest bedrooms, common areas, and breakfast-service space. A converted carriage house adds three income-producing units, while the 1.2-acre property also includes space that can support owner living quarters, extended-stay use, or additional guest services subject to applicable approvals. Construction includes masonry, wood frame, brick, and clapboard elements, with wood, vinyl, and carpet flooring. Heating is provided through zoned systems using kerosene, propane, oil, forced air, and wood. The property has public sewer, public and well water sources, and off-street parking.
Located at 40 Main Street in Limerick, Maine, the inn is under an hour from Portland, 40 minutes from Portsmouth, New Hampshire, and approximately 20 minutes from western New Hampshire. The business remains open and is accepting future reservations during the sale process. Zoning is B.
Located at 40 Main Street in Limerick, Maine, the inn is under an hour from Portland, 40 minutes from Portsmouth, New Hampshire, and approximately 20 minutes from western New Hampshire. The business remains open and is accepting future reservations during the sale process. Zoning is B.
Key Highlights
- 1859‑built bed and breakfast with 3,770 square feet of building area
- Eight guest bedrooms supported by common areas and breakfast‑service space
- Converted carriage house contains three income‑producing units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,263
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,165,260
$1.2M
Cap Rate 7%
$832,329
$832.3K
Cap Rate 9%
$647,367
$647.4K
Market Conditions
NOI Build-Up for 3,770 SF
Gross rent
$111.7K $29.64/SF
− Vacancy
−$5.8K −$1.54/SF
EGI
$105.9K $28.10/SF
− OpEx
−$47.7K −$12.64/SF
NOI
$58.3K $15.45/SF
Area
York County, ME
Vacancy
5.20%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,165,260
Cap Rate 7%
$832,329
Cap Rate 9%
$647,367
Alternative Uses
Best Use
Apartment 5plus
$832.3K
$728.3K – $971.1K
NOI $58,263 @ 7.0% cap · market cap 7.77%
Second Best
Hotel Hospitality
$652.3K
$570.8K – $761.1K
NOI $45,664 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$1.20M
$1.05M – $1.39M
NOI $83,655 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04048, ME
3,188
Population
1,565
Households
2
Avg Household Size
41
Median Age
24%
College-Educated
94%
High-School Grad
27.1 sq mi
ZIP Area
118
Density / Sq Mi
$90,125
Median Household Income
$45,791
Median Earnings
$1,153
Median Rent
$264,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Similar Off Market Nearby
- Jeremiah Mason House Bed and Breakfast — 40 Main St, Limerick, ME 04048
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Operating hospitality property with eight guest bedrooms and additional income-producing units in a converted carriage house.
Where is this bed & breakfast located?
The property is located at 40 Main Street Limerick, ME.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1859‑built bed and breakfast with 3,770 square feet of building area; Eight guest bedrooms supported by common areas and breakfast‑service space; Converted carriage house contains three income‑producing units
