Jeremiah Mason House Bed &
New
For Sale
$750,000
40 Main Street, Limerick, ME 04048
Historic lodging property with guest accommodations, breakfast service, and additional income-producing units.
Property Size3,770 SF
Days on Market4
Property Features for 40 Main Street
General Information
Standard status
Active
Size
3,770 SF
Property subtype
Commercial
Zoning
B
Additional Details
Business Included
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,418
Building Details
Building Size
3,770 SF
Year Built
1859
Buildings
2
Listing Agency:
Portside Real Estate Group
(207) 227-6959
Listed By:
Alexcia Smith
(207) 227-6959
Source:
Startpoint
Added: Aug 2
Changed: Aug 5
Last Checked: Aug 5 at 5:21AM
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 Portside Real Estate Group
Investment Insights
Based on property information with market context.
The Jeremiah Mason House is a historic bed and breakfast established in 1859, with 8 guest bedrooms, shared guest areas, breakfast service, and landscaped grounds. The property has operated under single ownership and includes a carriage house that has been converted into three income-producing units. Additional space may support owner living quarters, extended-stay accommodations, or expanded guest services, subject to applicable approvals.
Located at 40 Main Street in Limerick, Maine, the property offers access to several regional travel markets. Portland is approximately under an hour away, Portsmouth, New Hampshire, is about 40 minutes away, and western New Hampshire is approximately 20 minutes away. The property is zoned B and combines overnight hospitality accommodations with additional residential income space.
Located at 40 Main Street in Limerick, Maine, the property offers access to several regional travel markets. Portland is approximately under an hour away, Portsmouth, New Hampshire, is about 40 minutes away, and western New Hampshire is approximately 20 minutes away. The property is zoned B and combines overnight hospitality accommodations with additional residential income space.
Key Highlights
- Historic bed and breakfast established in 1859
- 8 guest bedrooms with common areas and breakfast service
- Carriage house converted into 3 income‑producing units
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 | $95.9k | $25.44 |
| − Vacancy | −$4.7k | −$1.26 |
| EGI | $91.2k | $24.18 |
| − OpEx | −$27.4k | −$7.25 |
| NOI | $63.8k | $16.93 |
3,770 SF · lease $25.44/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$911.7K
$797.8K – $1.06M
NOI $63,820 @ 7.0% cap · market cap 8.51%
Second Best
Apartment 5plus
$832.3K
$728.3K – $971.1K
NOI $58,263 @ 7.0% cap · market cap 7.77%
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.
Property Analytics
Current Use
Lease Details
3
Residential units
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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 - Historic lodging property with guest accommodations, breakfast service, and additional income-producing units.
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: Historic bed and breakfast established in 1859; 8 guest bedrooms with common areas and breakfast service; Carriage house converted into 3 income‑producing units
