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49-55 Water Street, Eastport, ME 04631

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For Sale

$850,000

3 baths • 4,312 sqft

Estimated Payment

$      /mo. †

APR for 30 years

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  • Other Residential
    Property type

  • $197.12
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

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.
MLS# 1511024

Courtesy Of Legacy Properties Sotheby's International Realty
2 City Center, Portland, ME 04101
(207) 780-8900

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Deck
  • Architecture Style
    Other
  • Exterior Type
    Brick and Wood, Masonry, Wood
  • Floor Covering
    Carpet, Laminate, Wood
  • Heating System
    Baseboard, Hot Water
  • Lot Size
    0.06 Acres
  • Roof Type
    Membrane
  • Rooms
    Full Bath

Map and Directions

Directions to 49-55 Water Street, Eastport, ME 04631

Home seller CENTURY 21 Moose Country Realtors

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CENTURY 21 Moose Country Realtors

(207) 695-3731
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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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