284 Main St Madawaska, ME 04756-1520

Property Details for 284 Main St

Property type

Banks

APN

MADA M:004 L:0015

APU

MADAM004L0015

Description

This exceptional multi-use property at 284 Main Street, Madawaska, ME, presents a compelling investment opportunity. Spanning 8,134 square feet on a 0.1-acre lot, this five-story building boasts a thriving, profitable restaurant and bar on the main floor, complete with all furniture, fixtures, and equipment included in the sale price of $399,000. Two three-bedroom apartments occupy the fourth and fifth floors, generating consistent rental income. The lower two basement levels offer extensive space, including kitchens, storage areas, additional restrooms, and convenient walk-out entrances to Bridge Street. A portion of the basement is readily adaptable into a garage with direct building access. Currently, the property yields a monthly rental income of $4,400 from the apartments and the established restaurant. The prime Main Street location is highly advantageous, situated near the Twin Rivers Paper Mill and directly across from the annual Party du Main Street festivities, ensuring high visibility and foot traffic. The building is fully sprinklered and fully compliant with fire marshal regulations, providing peace of mind for both owner and tenants. This versatile property offers significant potential for expansion and adaptation to suit a variety of commercial and residential needs. Its strong tenant base and proven profitability make it an attractive investment for discerning buyers.