157 Porter StRockport, ME 04856
- Mixed-use properties
- 1,788 SF
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
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
Comparable in this City
Similar Nearby for Sale
FAQs
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