23 Spring StDexter, ME 04930

Property Details for 23 Spring St

Lot size

0.08 AC

Property type

Healthcare properties

Property subtype

Medical offices

APN

DEXT M:010 L:153

APU

DEXTM010L153

Description

This exceptional mixed-use property at 23 Spring Street in Dexter, Maine presents a compelling investment opportunity. The 3,588 square foot building sits on a 0.08-acre lot and boasts a prime location offering excellent visibility. Currently generating income from five established businesses, this property provides immediate cash flow potential. The building's configuration is ideal, with four businesses occupying the upper level, all accessible from Spring Street, and one business located on the ground floor with convenient access to the municipal parking lot. Both levels feature level entry for easy accessibility. Each tenant space includes its own dedicated bathroom, enhancing convenience and privacy. A significant advantage is the presence of an updated commercial kitchen in the downstairs unit, adding value and versatility to the property. The existing tenants are well-established, suggesting a history of stable occupancy and consistent rental income. This property is an excellent choice for investors seeking a diversified income stream in a desirable location. The building's strong tenant base and strategic location make it a particularly attractive investment opportunity. The combination of high visibility, multiple income streams, and an updated commercial kitchen makes this a rare find in the Dexter market. This property offers a solid foundation for long-term growth and profitability. The asking price is $189,900.

• CAP approach

  CAP return

  Valuation

  6%

  $576,175

  6.5%

  $531,854

  7%

  $493,864

• Comparable approach

  Method

  Valuation

  Relative Method

  $455,350

  Geo Method

  $455,350

• Alternative Use

  Use

  Valuation

  Residential

  $659,498

  Hospitality

  $604,097

  Educational

  $502,602

  Medical

  $519,887

  Retail

  $781,825

Location Insight

City

Dexter

County

Penobscot

State

Maine

Latitude

45.0238

Longitude

-69.2902

CBSA code

12620

CBSA name

BANGOR, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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