1043 Main St Brewer, ME 04412-1242
- Warehouses
- 22.00 lot acres
Current Use by Public Records
- Warehouses
Property Details for 1043 Main St
- Lot size
- 22.00 lot acres
- Zone code
- LDR
- Property type
- Warehouses
- APN
- BRER M:18 L:38
- APU
- BRERM18L38
Description
Investor opportunity! This unique Brewer, ME property encompasses 11 units (3-unit residential building, 8-unit motel) situated on a 54-acre lot (seller believes 63 acres, verification in progress). The main building features 2,795 sq ft of ground-floor space ideal for owner occupancy or rental, including two offices, a kitchen, living room, 1.5 baths, and a large bedroom. Upstairs are two renovated 3-bedroom apartments, each with a full kitchen and laundry. The 2,660 sq ft motel offers eight rooms, ranging in size from single occupancy to three-bedroom units, all furnished. Conversion to additional apartments presents a strong potential for increased profitability. Both buildings have basements. A detached two-car garage and an older cottage are also included. The expansive lot offers significant development potential, is subdividable, and boasts access from Route 9 and Day Road, with city water, sewer, and power available from both streets. The property is conveniently located just three miles from Bangor. Total square footage is 5,455 sq ft, with 15 parking spaces. The property was built in 1900 and 1953, and is zoned LDR. Asking price is $1,880,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $295,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $280,000
- 6.5%
- $295,000
- 7%
- $295,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $320,000
- Geo Method
- $270,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $335,000
- Retail
- $355,000
- Mixed-Use
- $330,000
- Hospitality
- $265,000
- Educational
- $295,000
- Residential Income
- $300,000
- Energy
- $345,000
- Income-Based Land
- $355,000
- Food Service
- $275,000
Location Insight
- Map
- Local Demand
- City
- Brewer
- County
- Penobscot
- State
- Maine
- Longitude
- -68.7148
- Latitude
- 44.8174
- CBSA code
- 12620
- CBSA name
- BANGOR, ME METROPOLITAN STATISTICAL AREA