5 Water Street

Newport, ME 04953

MLS ID# 1582851 Active

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$385,000

8832 sqft

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

Description

This opportunity does not come often. Add this building to your portfolio or great for the beginning of an investment. This owner has put life back into this property and it has been reformed over the years and the character is endless. What a nice addition to the town of Newport. This building has 3 floors and filled with business and residential. In this 9000 sq foot building we have a Specialty store, a dance studio, 2 large residential apartments and several small professionals providing their own services. It also has a few areas that can become more rental opportunities. In 2009 a new metal roof was put on and in 2017 the second and third floors were provided with their own Rinnia heaters and bathrooms have been updated. All the tenants are requesting to stay so the income will keep coming and the potential for more is evident. Look to your backyard to sit by the Sebasticook River that runs by, Sitting in the heart of Newport the amenities are endless. This opportunity does not come often. Add this building to your portfolio or great for the beginning of an investment. This owner has put life back into this property and it has been reformed over the years and the character is endless. What a ... show more

Location Information

• Street # 5
• Street Name Water Street
• County Penobscot
• Town Newport
• State/Province ME
• Zip Code 04953
• Leased Land No
• Book 11139
• Page 26
• Map 15
• Lot 31
• Zoning Comm-Mixed
• Zoning Overlay Unknown
• Tax ID 5waterstreet
• Association No
• Full Tax Amount 2345
• Tax Year 2024

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 8832
• SqFt Finished Below Grade 0
• SqFt Finished Total 8832
• Garage No
• Lot Size Acres +/- 0.12
• Source of Acreage Public Records
• Road Frontage Yes
• Road Frontage +/- 61
• Source of Road Frontage Public Records

Compensation & Misc Info

• Buyer Agency 2%

Details

• Site

  Level, Open, Sidewalks

• Roads

  Paved, Public

• Water Info

  No Water Frontage, Water View, Water Body Name:East Branch Sebasticook

• Water Body Type

  River

• Recreational Water

  River/Brook/Stream

• View

  Scenic

• Income & Expenses

  Gross Income:48000, Operating Expenses:20820

• 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:Second, No Security Deposit, Monthly Rent:1000, # Full Baths:1, # of Half Baths:0, No Dedicated Electric Meter, No Dedicated Gas Meter, No Dedicated Water Heater, Electric, Heat, Range, Refrigerator, Sewer, Water

• Unit 2

  No Lease, Level:Second, No Security Deposit, Monthly Rent:575, # Full Baths:1, # Half Baths:0, No Dedicated Electric Meter, No Dedicated Gas Meter, No Dedicated Water Heater, Electric, No Heat, Range, Refrigerator, Sewer, Water

• Unit 3

  No Lease, Level:First, No Security Deposit, Monthly Rent:850, # Full Baths:0, # Half Baths:1, No Dedicated Electric Meter, No Dedicated Gas Meter, No Dedicated Water Heater, Electric, Heat, Range, Refrigerator, Sewer, Water

• Style

  Multi-Level

• Construction

  Wood Frame

• Basement

  Full

• Basement Entry

  Interior

• Foundation Materials

  Poured Concrete

• Exterior

  Vinyl Siding

• Roof

  Metal, Pitched

• Heat System

  Multi-Zones

• Heat Fuel

  Propane

• Water Heater

  Electric

• Cooling

  None

• Floors

  Laminate, Wood

• Driveway

  No Driveway

• Parking

  Other Parking

• Vehicle Storage

  No Vehicle Storage

• Electric

  Circuit Breakers

• Utilities

  Utilities On

• Gas

  No Gas

• Sewer

  Public Sewer

• Water

  Public