48 Commercial StBoothbay Harbor, ME 04538

Property Details for 48 Commercial St

Year built

1909

Construction

FRAME

Lot size

0.12 AC

Property size (Sq ft)

3,352 SF

Property type

Retail properties

Property subtype

Other retail properties

APN

BOOH M:015 L:011

APU

BOOHM015L011

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $814,653

  6.5%

  $751,987

  7%

  $698,274

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,103,690

  Geo Method

  $1,103,690

• Alternative Use

  Use

  Valuation

  Residential

  $634,330

  Hospitality

  $581,042

  Educational

  $483,420

  Medical

  $500,046

  Retail

  $751,987

Location Insight

City

Boothbay Harbor

County

Lincoln

State

Maine

Latitude

43.8502

Longitude

-69.6288

Property Tax & Assessments

FAQs

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