Investors and flippers galore. Buy 3 residential units for 100k each, and get 2 commercial units free and if that isn’t good enough, we’ll add in a .11 acre lot to sweeten the deal! The extra lot outback borders the Cocheco river, and could potentially be used as extra parking spots or a boat loading dock. This massive building of over 4700 square feet, features, a once booming restaurant and a now vacant smokeshop. The restaurant once known as Froggies, due to its size, has the potential with town approval to be subdivided into two separate commercial units, putting the total unit count to 6 units. Despite two vacant commercial units, the cap rate still stands at an impressive 7.59%. Bringing the building back to market value, could potentially bring the building’s GRI over $70,000. That is not all: The location cannot get any better, as tenants are located in the heart of downtown and are only a short distance from the Cocheco River, restaurants, convenience stores, and major routes. Residential units are in decent condition, while commercial units need work. 129 N.main can be purchased in combination with 135 N.main. See MLS#4840738. Agents see non-public remarks. Private showings begin on Saturday, March 6.
Listing By RE/MAX Shoreline – Andy Yau
Data Last Updated 11:20am - 04/12/2021
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