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ME
Machias
04654
4 Colonial Way

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FOR SALE

Commercial real estate

4 Colonial Way Machias, ME 04654

0.39 ac lot

Entity Owned 10-yr Hold ~ Est. High Equity

Property ID

US42-0281879

$1,000,000

4 Colonial Way, Machias, ME 04654
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This meticulously maintained three-story building, constructed in 1928, offers a unique blend of commercial and residential space in the heart of downtown Machias, ME. Located on Route One (Main Street), this 13,226 square foot property enjoys excellent visibility and high foot traffic. The building currently houses six commercial units and four apartments, all with 100% occupancy. Commercial units are currently leased at an average of $6 per square foot, significantly below market rate. Leases allow for rent increases upon renewal, presenting a substantial opportunity for equity growth. With a potential market rent of $12 per square foot and an 8% capitalization rate, the property's value could reach $1.4 million. Recently repainted, the building sits on a 0.39-acre lot and retains its historic charm while offering modern functionality. Each unit is thoughtfully designed to appeal to both tenants and visitors. This property is ideal for investors seeking a stable income stream with significant upside potential or business owners desiring a prestigious location. The building's prime location and current lease structure provide a solid foundation for future success.