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

Mixed-use properties

Property subtype

Other investment properties

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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