89 Main StOrono, ME 04473

Property Details for 89 Main St

Year built

1850

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.55 AC

Property size (Sq ft)

14,155 SF

Property type

Showrooms

APN

ORON M:027-002 L:159

APU

ORONM027002L159

Description

This stunning 1850 stone church in Orono, ME, offers 16,313 square feet of meticulously preserved and updated event space on a 0.55-acre lot. The property boasts original oak pews, Tiffany-stained glass windows, and exceptional acoustics, ideal for weddings, performances, or other large gatherings. A charming spiral staircase leads to a wheelchair lift, ensuring accessibility. The main floor includes a spacious chapel with a stage area, a cozy office, and a balcony with custom 1800s seating and a bridal suite. The lower level features a large entertaining area with handcrafted Maine pine tables and chairs, accommodating over 200 guests, a modern stainless steel prep kitchen, a bar area, hardwood floors, and four bathrooms. This meticulously maintained historic gem presents a unique investment opportunity, blending timeless elegance with modern amenities. The property's prime location and versatile space offer endless possibilities for a variety of uses. Priced at $1,400,000.

• CAP approach

  CAP return

  Valuation

  6%

  $3,440,159

  6.5%

  $3,175,532

  7%

  $2,948,708

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,660,720

  Geo Method

  $4,660,720

• Alternative Use

  Use

  Valuation

  Residential

  $2,678,680

  Hospitality

  $2,453,656

  Educational

  $2,041,413

  Medical

  $2,111,620

  Retail

  $3,175,532

Location Insight

City

Orono

County

Penobscot

State

Maine

Latitude

44.8811

Longitude

-68.6747

CBSA code

12620

CBSA name

BANGOR, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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