650 Main StRockland, ME 04841

Property Details for 650 Main St

Year built

1945

Lot size

0.26 AC

Property size (Sq ft)

1,401 SF

Property type

Investment properties

Property subtype

Live-work space

APN

ROCD M:013D L:04000

APU

ROCDM013DL04000

Description

This exceptional mixed-use property at 650 Main Street, Rockland, ME presents a unique investment opportunity. The offering encompasses a highly successful, established restaurant known for its popular breakfast and lunch menu, serving fresh, local fare all day. The restaurant is a turnkey operation, fully equipped and ready for immediate continuation. In addition to the main restaurant building, the property includes a separate duplex building with two one-bedroom, one-bathroom units, currently fully rented, providing a consistent rental income stream. An adjacent lot with a storage building adds further potential for expansion or development. The total square footage across all three buildings is 5,164 square feet, situated on a 0.43-acre lot. The property boasts excellent visibility in the heart of downtown Rockland, ensuring high foot traffic and strong brand recognition. This is an exceptional opportunity for an investor seeking a profitable, established business with significant upside potential. Financial details are available to qualified buyers upon execution of a Non-Disclosure Agreement. The property's prime location and the established reputation of the restaurant make this a truly rare and compelling investment. The combined restaurant and rental income streams offer a strong foundation for future growth and profitability. The additional storage building provides flexibility for various uses, potentially expanding the existing business or creating new revenue streams.

• CAP approach

  CAP return

  Valuation

  6%

  $231,627

  6.5%

  $213,810

  7%

  $198,538

• Comparable approach

  Method

  Valuation

  Relative Method

  $183,055

  Geo Method

  $183,055

• Alternative Use

  Use

  Valuation

  Residential

  $265,124

  Hospitality

  $242,852

  Educational

  $202,050

  Medical

  $208,999

  Retail

  $314,300

Location Insight

City

Rockland

County

Knox

State

Maine

Latitude

44.1103

Longitude

-69.1093

CBSA code

40500

CBSA name

ROCKLAND, ME MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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