14 Cedar StSkowhegan, ME 04976

Property Details for 14 Cedar St

Year built

1900

Lot size

0.25 AC

Property size (Sq ft)

4,803 SF

Property type

Other commercial real estate

Property subtype

Showrooms

APN

SKOW M:26 B:27

APU

SKOWM26B27

Description

This exceptional investment opportunity presents a 9-unit apartment building situated at 14 Cedar St, Skowhegan, ME 04976. The property boasts a total of 9,348 square feet on a 0.25-acre lot, spread across three stories. Built in 1900, the building features a durable metal roof and vinyl siding. The unit mix includes six one-bedroom and three two-bedroom apartments, catering to a diverse tenant base. Its prime location in Skowhegan offers convenient access to shopping and services, making it highly attractive to renters. The strong local economy, bolstered by employers such as New Balance (with planned expansion adding 200 jobs), SAPPI, and other national retailers, ensures consistent rental demand. Skowhegan's designation as a primary service center by the State of Maine further enhances its appeal and potential for future growth. The asking price for this well-maintained multifamily property is $650,000. The property's APN is 26/27. This is a rare chance to acquire a stable, income-generating asset in a thriving Maine community. The building consists of one structure.

• CAP approach

  CAP return

  Valuation

  6%

  $1,167,297

  6.5%

  $1,077,505

  7%

  $1,000,540

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,581,451

  Geo Method

  $1,581,451

• Alternative Use

  Use

  Valuation

  Residential

  $908,915

  Hospitality

  $832,562

  Educational

  $692,682

  Medical

  $716,504

  Retail

  $1,077,505

Location Insight

City

Skowhegan

County

Somerset

State

Maine

Latitude

44.7635

Longitude

-69.7158

Property Tax & Assessments

FAQs

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