4 Colonial Way, Machias, ME, 04654

Discover a rare opportunity to own a piece of history in the heart of downtown Machias. Built in 1928, this meticulously maintained three-story building spans 13,572 square feet and boasts a prime location with excellent visibility on Route One, known locally as Main Street. This vibrant thoroughfare is the lifeline of Machias, ensuring a steady flow of foot traffic and exposure for businesses. The building features a perfect blend of residential and commercial spaces, with four charming apartments and six thriving commercial units, all enjoying 100% occupancy. Each space is thoughtfully designed to preserve the historic charm while providing modern functionality, making it an attractive choice for tenants and visitors alike. Currently, the commercial units are underpriced, averaging just $6 per square foot. However, with leases in place that allow for renewals and rightsizing of rents, this property presents a ripe opportunity for equity growth. By adjusting rents to the market rate of $12 per square foot and achieving an 8% cap rate, the real estate's value could reach an impressive $1.4 million. Recently refreshed with a new coat of paint, the building stands as a testament to its enduring quality and appeal. Its historic character is evident in every detail, offering a unique ambiance that sets it apart from other properties in the area. Whether you're an investor seeking a stable income stream with significant upside potential or a business owner looking for a prestigious location, this property offers unparalleled potential. Embrace the opportunity to own a landmark in Machias, where history and modernity meet in perfect harmony. Don't miss out on this exceptional offering—contact us today to learn more about this iconic property and become a part of its storied legacy.

Listing courtesy of Trinity Business Brokers