| Up North Realty Maine

← Back to search

553 Shore Road, Cape Elizabeth, ME 04107

$1,875,000
Property Type: Multi-Family Baths: 3 Square Footage: 2,422 Lot Size (sq. ft.): 10,454 Status: Active
Current Price: $1,875,000 List Date: 4/27/2024 Last Modified: 4/28/2024

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.

Supplements: ********

More Information MLS# 1587624

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 Association: No Full Tax Amount $: 7406 Tax Year: 2023 Geo Lat: 43.633225 Geo Lon: -70.226767

Contract Information

Status: Active Original List Price: 1875000 List Price: $1,875,000 Current Price: $1,875,000

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 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 Buyer Agency Type: %

Water Info

Water Frontage: No Water View: No

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

Unit 1

Lease: No Level: First Security Deposit: No # of Half Baths: 1 # of Rooms: 3 Dedicated Electric Meter: No Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: Yes Range: No Refrigerator: Yes Sewer: Yes Water: Yes

Unit 2

Lease: No Level: Second Security Deposit: No # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: No Dedicated Gas Meter: No Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 3

Lease: No Level: Third Security Deposit: No # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: No Dedicated Gas Meter: No Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Utilities

Utilities On: Yes

Property Features

Site: Level; Open; Sidewalks; Well Landscaped Location: Near Public Beach; Near Town; Neighborhood Roads: Paved; Public Recreational Water: Nearby 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: 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 Gas: Natural - At Street Sewer: Private Sewer Water: Public
Listing Office: Townsend Real Estate
Last Updated: April - 28 - 2024
553 Shore Road, Cape Elizabeth, ME 04107- MLS# 1587624
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. Copyright ©2022 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity.