Nicole Vargas
$850,000
49-55 Water Street, Eastport, ME, 04631
3 Full baths
1886
Bed & Breakfast, Multi-Level
4,312 sqft
Join in the renaissance of Maine's most eastern city by investing in this handsome, 4,313 sq-ft, 2-story commercial building in the heart of Eastport's waterfront historic district. Named ''The Commons'' by the local women who purchased the building 20 years ago, the 1886 landmark is a symbol of tenacity & commitment to the community. It stands among the other 31 red brick buildings that comprise Eastport's historic district. The building offers 4 distinct commercial spaces: 2, 2-bedroom short-term rental suites with decks & water views; and 2 street-level businesses. The interior was fully renovated in 2003/2004, and the exterior north wall completely rebuilt then. Impeccably maintained, the owners have made other significant improvements, including: replacement of the rubber membrane roof; electrical upgrades; two new boilers 2021, and repainting the exterior trim 2023. Viable, ongoing businesses are on both levels - an art gallery & online shop featuring local artists, and a street-level commercial space with multi-year lease in place, along with additional office space, shared kitchenette & bathroom. Two vacation suites with kitchens, living rooms, furnishings, & appliances, are on the second floor. (The art gallery is for sale separately.) At the owners' expense, the building's exterior south wall is in the process of being removed and rebuilt. Contracts are in place with a professional architect, builder & mason, and are available to review by serious buyers. If the building sells before the work is completed, funds for the repairs will be held in escrow by the title company to be paid after completion. Don't miss an incredible opportunity to own this special income producing property! Bring your own vision to the picturesque setting where downtown commercial spaces vie for attention with the sweeping water vistas that extend beyond the deepwater harbor and working waterfront out to Campobello and Deer Islands, Canada.
Status:
Active
Type:
Multi-family
Laundry Remarks:
Upper Level
Units:
2
Zoning:
GSD. B1
Heating:
Multi-Zones, Hot Water, Baseboard
Cooling:
None
Basement:
Full, Interior Entry, Unfinished
Levels:
2
Parking:
No Driveway, Other
Acreage:
0.06
Est. Taxes:
$4,667
Construction
Brick, Masonry, Wood Frame
Utilities
Utilities On
Lot Description:
Level, Open Lot, Sidewalks, Historic District, Intown, Near Shopping
View Description:
Scenic
Amenities:
Furniture Included, Primary Bedroom w/Bath
Pet Policy:
No Restrictions
MLS #:
1511024
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Legacy Properties Sotheby's International Realty