134 Main StNewport, ME 04953

Property Details for 134 Main St

Lot size

0.50 AC

Zone code

B

Property type

Retail properties

Property subtype

Retail space

APN

NEPT M:015 L:003

APU

NEPTM015L003

Description

This exceptional investment opportunity presents a 6,566 square foot commercial building situated on a prominent 0.5-acre corner lot in the heart of Newport, Maine. Boasting over 297 feet of frontage on the busy Main Street/Route 2 and High Street intersection, this property enjoys unparalleled visibility and accessibility. Its strategic location, approximately one mile between two of Maine's highest-traffic I-95 exits, ensures consistent high volume of potential customers. The building currently houses three thriving businesses: a retail store, an office, and a printing company, demonstrating its versatility and established tenant base. Ample off-street parking is available in the large, dedicated lot. Internal features include two full bathrooms and two half bathrooms, along with two separate heating systems to ensure efficient climate control throughout the sizable space. The town of Newport serves as a regional shopping and service hub, making this property ideally positioned to capitalize on the strong local economy and high traffic counts. This is a rare chance to acquire a well-established commercial property with significant growth potential in a thriving Maine community. The asking price is $750,000.

• CAP approach

  CAP return

  Valuation

  6%

  $5,293,300

  6.5%

  $4,886,124

  7%

  $4,537,114

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,171,352

  Geo Method

  $7,171,352

• Alternative Use

  Use

  Valuation

  Residential

  $4,121,628

  Hospitality

  $3,775,389

  Educational

  $3,141,079

  Medical

  $3,249,106

  Retail

  $4,886,124

Location Insight

City

Newport

County

Penobscot

State

Maine

Latitude

44.8353

Longitude

-69.2779

CBSA code

12620

CBSA name

BANGOR, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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