30 Water StEllsworth, ME 04605

Property Details for 30 Water St

Year built

1933

Lot size

0.11 AC

Property size (Sq ft)

2,472 SF

Zone code

DT

Property type

Office buildings

APN

ELLH M:134 B:020 L:000 U:000

APU

ELLHM134B020L000U000

Description

This exceptional mixed-use property at 30 Water Street in Ellsworth, Maine presents a unique investment opportunity. The building, totaling 5,097 square feet on a 0.11-acre lot, offers a compelling blend of commercial and residential space. The first floor encompasses over 2,000 square feet of versatile commercial space, ideal for a variety of businesses. Large Water Street windows and a prominent entrance ensure high visibility and accessibility. A separate entrance to the back room adds to the property's functionality, complemented by a shared bathroom. Upstairs, the second floor features two fully furnished, two-bedroom apartments, ready for immediate rental income generation. These luxurious apartments contribute significantly to the property's potential return on investment. Adding to the owner's convenience, the third floor provides bonus "owner quarters" with a spacious room, kitchenette, and full bathroom. The entire building benefits from central air conditioning and heating, ensuring year-round comfort. High ceilings, large windows throughout, and multiple entrances enhance the overall appeal and functionality. Ample public parking is readily available nearby, adding to the property's convenience. This meticulously maintained property represents a rare opportunity to acquire a thriving mixed-use building in the vibrant downtown Ellsworth area. The combination of commercial space and income-producing apartments makes this an attractive investment for discerning buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $408,695

  6.5%

  $377,257

  7%

  $350,310

• Comparable approach

  Method

  Valuation

  Relative Method

  $322,992

  Geo Method

  $322,992

• Alternative Use

  Use

  Valuation

  Residential

  $467,799

  Hospitality

  $428,501

  Educational

  $356,508

  Medical

  $368,769

  Retail

  $554,568

Location Insight

City

Ellsworth

County

Hancock

State

Maine

Latitude

44.5408

Longitude

-68.4244

Property Tax & Assessments

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