485 Washburn St, Caribou, ME 04736
This exceptional Caribou, ME commercial property offers a unique investment opportunity. Situated on a 1.9-acre lot just minutes from downtown and recreational trails, this property boasts two substantial structures totaling over 10,000 square feet. The main residence features a spacious layout, including a large 46 x 20 foot family room (formerly a dining hall), a kitchen with ample space, a washer/dryer area, and a walk-in closet that could easily be converted into an additional bedroom. The master bedroom offers plenty of space for a king-size bed. Upstairs, a former apartment includes three more bedrooms and a full bathroom. The second structure, a former church, provides over 6,500 square feet of versatile space. The auditorium features impressive woodwork and a Modine heater. Additional storage areas and a half-bath are also included. This building previously housed multiple apartments and presents significant redevelopment potential. The property benefits from 600-amp service and a separate septic tank. The residence also includes an oversized two-car garage with extensive storage and direct access to the home. This property's expansive size and prime location offer endless possibilities for a variety of commercial uses. The asking price is $299,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.