157 Porter StRockport, ME 04856

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

Investment properties

Property subtype

Live-work space

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.

• 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

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