Property profile

185 Main St Cornish, ME 04020

OFF-MARKET
Retail properties & Spaces
Property ID
US42-0201072
10,817 SF 1 ac lot Built 2006
Entity Owned 18-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional mixed-use property at 185 Main Street, Cornish, Maine, presents a lucrative investment opportunity. The 20,032 square foot building, constructed in 2006 and renovated in 2010, sits on a 6.13-acre lot and is zoned CB - Commercial District. The first floor boasts fully leased retail space, encompassing a full-service restaurant, barber shop, hair salon, and a cannabis store. Additionally, a four-bay garage space is available for lease, offering further income potential. The second floor comprises ten lodging rooms, each with a private bathroom and amenities, providing a steady stream of revenue from the hospitality sector. The property includes a 1.38-acre developable lot, capable of supporting a building up to 15,000 square feet, which can be purchased separately for $235,000. This presents significant expansion possibilities for the existing business or allows for the development of additional income-generating ventures. The property's prime location in Cornish, York County, Maine (04020), offers excellent visibility and accessibility. The asking price for this turnkey operation is $3,600,000. This is a rare chance to acquire a well-established, multi-faceted business with substantial growth potential. The property features one two-story building with ten keys. The APN is Map U06, Lot 009, and ownership is held by Country Home, LLC.

Property profile

Verified
Property type Retail properties & Spaces
Use group DEPARTMENT STORE
Year built 2006
Construction FRAME
Total area 10,817 SF
Lot 1 ac (43,560 SF)
APN CNSH M:U06 L:009
UPID US42-0201072

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Atm
  • Hotel & Motel Bed & Breakfast
  • Department Store
  • Cafe & Coffee Shop
  • (Bike/Boat/Book/etc) Store

Location

185 Main St Cornish, ME 04020-3221
Cornish metro Census 22500 PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.17M

Owner & transaction history

since 2007
5 recorded transactions
2014
Price N/A
2012
Price N/A
2009
Price N/A
2008
Price N/A
2007
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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