5 Water St Newport, ME 04953

This exceptional 8,832 square foot commercial building, situated on a 0.12-acre lot at 5 Water Street in Newport, Maine, presents a rare investment opportunity. The three-story structure boasts a diverse tenant mix, including a specialty store, a dance studio, two large residential apartments, and several smaller professional offices. All current tenants are eager to remain, ensuring a consistent income stream. The building's character has been meticulously preserved and enhanced through renovations over the years. Significant improvements include a new metal roof installed in 2009 and the addition of individual Rinnai heaters and updated bathrooms on the second and third floors in 2017. The property's prime location in the heart of Newport offers unparalleled access to local amenities. Furthermore, the building's potential for increased rental income is readily apparent, with several areas suitable for conversion into additional rental units. Enjoy the picturesque setting along the Sebasticook River, adding to the property's overall appeal and value. This is a turn-key opportunity for portfolio expansion or a first-time investment. The building's strong tenant occupancy and recent upgrades make this a truly compelling investment proposition. Priced at $369,000.