117-123 Mill St - Office/Residential FOR SALE


Orono, ME 04473
$599,900 USD
207-947-6788
117-123 Mill St, Orono, ME for Sale
$599,900 USD
Office/Residential - FOR SALE
1/24
null | Request Cap Rate

117-123 Mill St
Orono, ME 04473


HIGHLIGHTS

  • The fully vacant configuration allows immediate repositioning, leasing, or occupancy without existing tenant constraints.
  • Recent upgrades, including heating systems and structural improvements, support operational stability and future use flexibility.
  • The property supports a wide range of potential uses, including residential, office, and commercial applications subject to approvals.

OVERVIEW

Orono, Maine Multi-Use Investment Opportunity | Mill Street, Orono Well-positioned multi-use property offering strong investment potential in a highly accessible Orono location. This vacant three-story building provides flexibility for an owner-investor or operator to establish lease structures, rental rates, and tenant mix based on current market conditions and permitted uses. The property supports a variety of potential configurations, including residential, office, and commercial applications (subject to local approvals). Its vacant condition allows for immediate updates, leasing, or occupancy without existing tenancy constraints, offering a streamlined path for repositioning or redevelopment. Recent improvements include updated heating systems and a reinforced foundation, supporting long-term stability and operational efficiency. Residential units are equipped with in-unit washer and dryer connections, and one unit is offered furnished, providing added flexibility for short- or long-term rental strategies. Located on Mill Street with strong visibility, the property includes a garage on site and ample on-site parking to accommodate tenants, customers, or mixed-use configurations. Public transportation access further enhances convenience and connectivity. The location offers close proximity to downtown Orono amenities, including dining, retail, services, and recreation. The nearby University of Maine supports steady demand drivers for both residential and commercial space, while regional transportation access enhances overall accessibility. This property presents a versatile opportunity for investors, owner-users, or developers seeking a flexible asset with repositioning potential in a strong market environment. Schedule a private showing to explore the possibilities this property offers.

FOR SALE DETAILS

PRICE

$599,900 USD

PRICE/SF

$125 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

C

YEAR BUILT

1850

SPRINKLERS

-

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

MDW

APN/PARCEL ID

ORON-027012-000000-000043

ASK ABOUT THIS PROPERTY

Adrian NadeauERA Dawson BradfordMore Info
207-947-6788

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Adrian NadeauERA Dawson BradfordMore Info
207-947-6788

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.