48 Commercial St Boothbay Harbor, ME 04538
For Sale
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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.
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Kaler's Restaurant Restaurant
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
