553 Shore Road

Cape Elizabeth, ME 04107

MLS ID# 1587624 Active

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$1,775,000

2 parking spaces

2422 sqft

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• Description
• Location Information
• Property Information
• Compensation & Misc Info
• Remarks
• Details

Description

Nestled along the prestigious Shore Road, this distinguished Georgian Colonial residence presents a versatile mixed-use opportunity. Boasting commercial space on the ground floor and two spacious apartments spanning the upper levels, this property epitomizes convenience and amazing potential. Offered as a very successful ''turn-key'' rental business, with most furnishings included, it also holds promise for diverse ventures within the BA zone. Positioned at the gateway to Cape Elizabeth, this property enjoys unrivaled prominence, surrounded by pristine beaches, scenic parks, and an array of dining, entertainment, and cultural amenities within easy walking distance. Meticulously preserving its original charm, while selectively modernizing essential features, this property seamlessly blends timeless elegance with contemporary functionality. Ideal for entrepreneurs, owner-occupiers, or those seeking to capitalize on the bustling yet idyllic coastal atmosphere, this property represents a prime investment opportunity. Excellent furnished, monthly rental income of the two residential units, combined with the presence of a first-floor commercial space and garage, underscores the significant income potential of this distinctive property. Whether establishing a business or embracing the allure of coastal living, this property promises both distinction and potential in equal measure. Nestled along the prestigious Shore Road, this distinguished Georgian Colonial residence presents a versatile mixed-use opportunity. Boasting commercial space on the ground floor and two spacious apartments spanning the upper levels, this property e... show more

Location Information

• Street # 553
• Street Name Shore
• Street Type Road
• County Cumberland
• Town Cape Elizabeth
• State/Province ME
• Zip Code 04107
• Zip +4 1010
• Leased Land No
• Book 32718
• Page 241
• Map U01
• Lot 6
• Zoning BA
• Zoning Overlay Unknown
• Tax ID CAPE-001006U
• Association No
• Full Tax Amount 7406
• Tax Year 2023

Property Information

• Surveyed Unknown
• Seasonal No
• Number of Units 3
• Total Baths 3
• Total Full Baths 2
• Total Half Baths 1
• Year Built 1900
• SqFt Finished Above Grade 2422
• SqFt Finished Below Grade 0
• SqFt Finished Total 2422
• SqFt Source Public Records
• Garage Yes
• Garage Spaces 2
• Lot Size Acres +/- 0.24
• Source of Acreage Public Records

Compensation & Misc Info

• Buyer Agency 2%

Directions

From Broadway in South Portland, head east on Cottage Road approximately 1 mile. Cottage Road becomes Shore Road at Cape/So Portland town line. Property will be on the right.

Details

• Site

  Level, Open, Sidewalks, Well Landscaped

• Roads

  Paved, Public

• Water Info

  No Water Frontage, No Water View

• Recreational Water

  Nearby

• Building Info

  # Fireplaces:1, # Stories:3

• Income & Expenses

  Gross Income:138033, Operating Expenses:17282

• Units

  # of 1 BD Units:1, # of 2 BD Units:2, # of 3 BD Units:0, # of 4+ BD Units:0

• Unit 1

  No Lease, Level:First, No Security Deposit, Monthly Rent:0, # Full Baths:0, # of Half Baths:1, No Dedicated Electric Meter, No Dedicated Gas Meter, No Dedicated Water Heater, No Electric, Heat, No Range, Refrigerator, Sewer, Water

• Unit 2

  No Lease, Level:Second, No Security Deposit, Monthly Rent:0, # Full Baths:1, # Half Baths:0, No Dedicated Electric Meter, No Dedicated Gas Meter, No Dedicated Water Heater, Electric, Heat, Range, Refrigerator, Sewer, Water

• Unit 3

  No Lease, Level:Third, No Security Deposit, Monthly Rent:0, # Full Baths:1, # Half Baths:0, No Dedicated Electric Meter, No Dedicated Gas Meter, No Dedicated Water Heater, Electric, Heat, Range, Refrigerator, Sewer, Water

• Style

  Colonial

• Construction

  Wood Frame

• Basement

  Full

• Basement Entry

  Interior

• Foundation Materials

  Stone

• Exterior

  Wood Siding

• Roof

  Shingle

• Heat System

  Heat Pump, Steam

• Heat Fuel

  Electric, Oil

• Water Heater

  Off Heating System

• Cooling

  Heat Pump

• Floors

  Wood

• Patio and Porch Features

  Porch

• Driveway

  Paved

• Parking

  5 - 10 Spaces, Off Street, Paved

• Vehicle Storage

  2 Car, Detached

• Electric

  Circuit Breakers

• Utilities

  Utilities On

• Gas

  Natural - At Street

• Sewer

  Private Sewer

• Water

  Public