173 Port RdKennebunk, ME 04043

Property Details for 173 Port Rd

Year built

1850

Lot size

0.46 AC

Property size (Sq ft)

2,804 SF

Property type

Turn key restaurants

APN

KENB M:089 L:092 U:003

APU

KENBM089L092U003

Description

This exceptional Kennebunkport mixed-use property presents a unique investment opportunity. Located at 171-173 Port Road, this offering encompasses a thriving commercial building currently leased to Old Vines, a well-established bar and restaurant. The 5,579 square foot building, constructed in 1850 and renovated in 2004, sits on a 0.46-acre lot (APN 089/092/002 & 003) and is zoned for Lower Village Business District use. The property also includes a charming two-bedroom, loft-style residential condo with 1.5 bathrooms, providing additional income potential or owner occupancy. This residential unit adds to the versatility of this investment. The property's significant size and location in the desirable Kennebunkport area, within York County, Maine (zip code 04043), offer substantial upside potential. The 0.46-acre vacant lot provides ample parking and possibilities for future development or expansion. The asking price for this remarkable property is $2,600,000. This two-story building represents a rare blend of commercial and residential real estate in a prime location, making it an attractive investment for discerning buyers. The property is currently owned by Friday Morning LLC.

• CAP approach

  CAP return

  Valuation

  6%

  $681,470

  6.5%

  $629,049

  7%

  $584,117

• Comparable approach

  Method

  Valuation

  Relative Method

  $923,254

  Geo Method

  $923,254

• Alternative Use

  Use

  Valuation

  Residential

  $530,626

  Hospitality

  $486,051

  Educational

  $404,389

  Medical

  $418,296

  Retail

  $629,049

Location Insight

City

Kennebunk

County

York

State

Maine

Latitude

43.3602

Longitude

-70.4836

CBSA code

38860

CBSA name

PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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