Historic Bed & Breakfast with 8 Guest
New
For Sale
$750,000
40 Main Street, Limerick, ME 04048
COMMERCIAL - Limerick, ME
Property Size3,770 SF
Lot Size1.20 Acres
Price / SF$198.94
Days on Market4
Property Features for 40 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B
Rooms
Basement
Parking features
Off Street
Basement
Full, Walk-Out Access, Unfinished
Lot features
Downtown, Business District, Rural
Standard status
Active
Size
3,770 SF
Lot size
1.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6418
Utilities
Sewer type
Public Sewer
Heating system
Propane (Heating), Kerosene, Wood, Zoned, Oil, Forced Air
Water source
Well, Public
Building Details
Year built
1859
Flooring type
Carpet, Vinyl, Wood
Building materials
Masonry, Wood Frame, Brick, Clapboard
Roof type
Shingle, Membrane, Metal, Slate
Listing Agency:
Portside Real Estate Group
(207) 536-4222
Listed By:
Alexcia Smith
(207) 227-6959
Added: Aug 2
Changed: Aug 4
Last Checked: Aug 5 at 1:06PM
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.
Investment Insights
Based on property information with market context.
Welcome to the Jeremiah Mason House, a historic bed and breakfast property in York County, Maine, built in 1859. The main inn offers 8 guest bedrooms and welcoming common areas, along with breakfast service and peaceful grounds. Complementing the inn is a carriage house that has been converted into three income-producing units, adding diversified lodging and accommodation options.
The property sits on 1.2 acres and includes 3,770 square feet of space. Construction materials include masonry, wood frame, brick, and clapboard, with flooring comprised of vinyl, carpet, and wood. Heating is supported by kerosene, forced air, wood, zoned systems, and propane heating and oil. The roof features slate, membrane, metal, and shingle, with public water and a well serving the property and public sewer available.
With off-street parking and flexible indoor space suitable for owner living quarters or expanded guest services (subject to applicable approvals), this setup supports a streamlined hospitality and accommodation model.
The property sits on 1.2 acres and includes 3,770 square feet of space. Construction materials include masonry, wood frame, brick, and clapboard, with flooring comprised of vinyl, carpet, and wood. Heating is supported by kerosene, forced air, wood, zoned systems, and propane heating and oil. The roof features slate, membrane, metal, and shingle, with public water and a well serving the property and public sewer available.
With off-street parking and flexible indoor space suitable for owner living quarters or expanded guest services (subject to applicable approvals), this setup supports a streamlined hospitality and accommodation model.
Key Highlights
- 8 guest bedrooms in the main inn
- Carriage house converted into three income‑producing units
- 1.2‑acre property with 3,770 square feet
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
Property Profile
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
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 Maine bed and breakfast with 8 guest bedrooms, off-street parking, and three additional income-producing carriage house 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: 8 guest bedrooms in the main inn; Carriage house converted into three income‑producing units; 1.2‑acre property with 3,770 square feet
