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    48 Commercial St Boothbay Harbor, ME 04538

    For Sale
    $1,800,000

    Prime waterfront location, three tenants, value-add potential.

    Property size:
    9,750 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional Boothbay Harbor property presents a compelling investment opportunity. Located at 48 Commercial Street, this three-story, 9,750 square foot mixed-use building boasts a prime harbor-front location in the heart of the historic downtown. Currently housing three tenants—two retail spaces and one restaurant—operating on a seasonal basis, the property offers a 66% occupancy rate. The building, constructed in 1909, sits on a 0.12-acre lot and includes a dock and float system. The asking price is $1,800,000, translating to $184.62 per square foot. The property is zoned Downtown Commercial A, allowing for both business and residential uses. A significant value-add opportunity exists with the currently undeveloped third floor, presenting potential for expansion of existing businesses or the creation of new residential or commercial units. This unique offering combines established income with substantial upside potential in a highly desirable Maine coastal location. The property's APN is 15/11.

    Property Features for 48 Commercial St

    General Information

    Property type
    Individual retail properties
    Square Feet
    9,750 SF
    Lot Size
    5,227 SF

    Building Details

    Year Built
    1909
    Buildings
    1
    Stories
    3
    Units
    3

    HighLights

    • Prime harbor‑front location at 48 Commercial Street, Boothbay Harbor.
    • Three‑story, 9,750 square foot mixed‑use building with three seasonal tenants (two retail, one restaurant).
    • 66% occupancy rate, $1,800,000 asking price ($184.62/SF).
    • 0.12‑acre lot, including dock and float system.
    • Downtown Commercial A zoning allows for business and residential uses.
    • Undeveloped third floor offers significant value‑add potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Kaler's Restaurant Seafood Restaurant

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Boothbay Harbor
    County
    Lincoln
    State
    Maine
    Longitude
    -69.62897705
    Latitude
    43.85031268

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    FAQs

    What type of property is this?
    Individual retail property - Prime waterfront location, three tenants, value-add potential.
    Where is this individual retail property located?
    The property is located at 48 Commercial St Boothbay Harbor, ME.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: Prime harbor-front location at 48 Commercial Street, Boothbay Harbor.; Three-story, 9,750 square foot mixed-use building with three seasonal tenants (two retail, one restaurant).; 66% occupancy rate, $1,800,000 asking price ($184.62/SF).
    Request Owner's contact information
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    Boothbay Harbor, ME 04538
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    48 Commercial St Boothbay Harbor, ME 04538
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