234 Main St Lovell, ME 04051
Estimated payment $2,015/month
Highlights
- No HOA
- Level Lot
- Heating System Uses Gas
- Cooling System Mounted To A Wall/Window
About This Home
Commercial Multi-Family Mixed-Use Property For Sale
A Prime Investment Opportunity
Nestled in a bustling neighborhood, a unique commercial multi-family mixed-use property is now available for sale. This property presents an exceptional investment opportunity, combining commercial space with residential rentals, ensuring a steady income stream.
The Commercial Floor
The first floor of this property has a rich history, having housed a successful convenience store and restaurant for many years. Although currently closed, the business can be effortlessly revived, thanks to the inclusion of all store and restaurant equipment with the sale. This turn-key opportunity means that entrepreneurs can hit the ground running without the hassle of sourcing and purchasing new equipment.
The space is not limited to a convenience store and restaurant; it is also well-suited for general retail. With its prominent location and the adaptability of the space, a variety of businesses could thrive here, from boutique shops to service providers. The adaptable layout can accommodate different retail needs, making it an attractive option for potential tenants or owner-operators.
The Residential Floor
Above the commercial space, the second floor comprises three fully occupied apartments, adding another layer of financial stability to the property. These well-maintained units provide comfortable living spaces, ensuring high tenant retention and demand.
•Apartment 1: A spacious two-bedroom, one-bathroom unit, perfect for small families or roommates.
•Apartment 2: Another well-appointed two-bedroom, one-bathroom unit, offering similar amenities and comfort.
•Apartment 3: A cozy one-bedroom, one-bathroom unit, ideal for singles or couples.
Investment Potential
This property is a lucrative investment opportunity. The combination of commercial and residential spaces ensures diversified income, reducing risk and maximizing returns.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,804
Year Built
- Built in 1865
Lot Details
- 0.38 Acre Lot
- Level Lot
Home Design
- Block Foundation
- Wood Frame Construction
- Metal Roof
- Shingle Siding
Interior Spaces
- 3 Full Bathrooms
- 3,400 Sq Ft Home
- Laminate Flooring
Parking
- Common or Shared Parking
- Gravel Driveway
- Shared Driveway
- Off-Street Parking
Location
- City Lot
Utilities
- Cooling System Mounted To A Wall/Window
- Heating System Uses Gas
- Heating System Uses Oil
- Private Water Source
- Well
- Electric Water Heater
- Septic Tank
- Septic Design Available
Listing and Financial Details
- Tax Lot 28
- Assessor Parcel Number LOVE-000000-U000002-000028
Community Details
Overview
- No Home Owners Association
- 3 Units
- 25-Story Property
Building Details
- Operating Expense $4,200
- Gross Income $32,760
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $1,905 | $168,600 | $25,500 | $143,100 |
| 2023 | $1,804 | $168,600 | $25,500 | $143,100 |
| 2022 | $1,686 | $168,600 | $25,500 | $143,100 |
| 2021 | $1,686 | $168,600 | $25,500 | $143,100 |
| 2020 | $1,762 | $168,600 | $25,500 | $143,100 |
| 2019 | $1,745 | $168,600 | $25,500 | $143,100 |
| 2018 | $1,711 | $168,600 | $25,500 | $143,100 |
| 2017 | $1,661 | $168,600 | $25,500 | $143,100 |
| 2016 | $1,585 | $168,600 | $25,500 | $143,100 |
| 2014 | $1,593 | $168,600 | $25,500 | $143,100 |
| 2013 | $1,576 | $168,600 | $25,500 | $143,100 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/29/2025 07/29/25 | Pending | -- | -- | -- |
| 02/16/2025 02/16/25 | For Sale | $350,000 | -- | $103 / Sq Ft |
Source: Maine Listings
MLS Number: 1614504
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Listing data is derived in whole or in part from Maine Real Estate Information System, Inc. (d/b/a Maine Listings) and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.
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