157 Porter StRockport, ME 04856

  • Mixed-use properties
  • 1,788 SF
For Sale
$589,900 View listing

Property Details for 157 Porter St

Year built
2004
Construction
FRAME
Lot size
1.82 AC
Property size (Sq ft)
1,788 SF
Property type
Mixed-use properties
Property subtype
Other investment properties
APN
ROCT M:008 B:085
APU
ROCTM008B085

Description

This exceptional commercial property boasts significant visibility on busy Route 17 (Rockland Street) and Porter Street, offering 4,200 square feet on a 1.82-acre lot. The first floor features a 1,200 square foot heated shop, ideal for various businesses, complete with high ceilings, two large overhead doors, a half bathroom, and a 144 square foot office. Three additional outbuildings provide ample storage or expansion potential. The second floor comprises two separate one-bedroom apartments, each equipped with a fully applianced kitchen, living room, bedroom, and a large bathroom including a washer and dryer. One apartment features a private deck. Currently, one apartment rents for $1,150 per month plus utilities (tenant at will), and the other for $1,250 per month plus utilities (short-term lease). The shop and office space on the first floor are currently vacant, presenting an immediate opportunity for income generation. Recent improvements include a new roof and a new leach field, ensuring long-term value and peace of mind. This property offers a unique blend of commercial and residential income potential in a prime Rockport location. The property is priced at $589,900.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $295,610
    6.5%
    $272,871
    7%
    $253,380
  • Comparable approach

    Method
    Valuation
    Relative Method
    $233,620
    Geo Method
    $233,620
  • Alternative Use

    Use
    Valuation
    Residential
    $338,360
    Hospitality
    $309,936
    Educational
    $257,863
    Medical
    $266,731
    Retail
    $401,120
157 Porter St, Rockport, Maine

Location Insight

City
Rockport
County
Knox
State
Maine
Latitude
44.1545
Longitude
-69.1135
CBSA code
40500
CBSA name
ROCKLAND, ME MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$2,824
$52,300
$130,500
$182,800
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