1642 Atlantic Hwy - Apartments FOR SALE


Warren, ME 04864
$914,000 USD
207-446-3333
1642 Atlantic Hwy, Warren, ME for Sale
$914,000 USD
Apartments - FOR SALE
1/4
null | Request Cap Rate

1642 Atlantic Hwy
Warren, ME 04864


HIGHLIGHTS

  • Prime Route One Location
  • High Traffic Location
  • Easy access from most areas of Knox and Waldo Counties

OVERVIEW

Rare opportunity to acquire a diversified income-producing property consisting of a newly renovated duplex, a commercial building with ten storage/commercial rental units, and a fully renovated single-family residence. Strategically located approximately one mile north of Route 90 and directly across from Ande's Variety & Take Out, one of the area's busiest retail destinations, the property benefits from excellent visibility, strong traffic counts, and a highly desirable commercial location. The duplex is currently undergoing a comprehensive renovation and, upon completion (anticipated in September), will feature two spacious residential apartments designed to attract quality tenants. The first-floor unit includes direct access to an attached two-car garage, while a newly paved driveway and expanded parking area further enhance tenant appeal and marketability. The interior of the single-family residence was extensively renovated approximately one year ago and is currently rented. The commercial building contains ten rental storage/commercial units, providing an opportunity as an established income component while offering flexibility to accommodate a variety of tenants. Combined with the residential units, the property offers a diversified rental portfolio that helps reduce income risk and enhances long-term investment stability. This property presents an outstanding opportunity for investors seeking the ability of having and expanding cash flow investment. When the renovations are completed and the duplex reaches stabilized occupancy, the property is well-positioned to generate increased rental income while benefiting from long-term appreciation. The combination of multiple revenue sources, recent capital improvements, strong location, and limited deferred maintenance creates an attractive investment with excellent potential for both income growth and asset appreciation. Whether you're expanding an investment portfolio or completing a 1031 exchange, this turnkey mixed-use asset offers the rare combination of current income, upside potential, and long-term value creation.

FOR SALE DETAILS

PRICE

$914,000 USD

PRICE/SF

$82 USD /SF

# OF UNITS

13

PRICE/UNIT

$70,308

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1642 Atlantic Hwy, Warren, ME 04864-4317

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1982

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2 AC

LAND SF

87,120 SF

ZONING

Rural

APN/PARCEL ID

WRRR-000007-000000-000004R

ASK ABOUT THIS PROPERTY

Douglas EricksonSVN The Masiello GroupMore Info
207-446-3333

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Douglas EricksonSVN The Masiello GroupMore Info
207-446-3333

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