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235 Bates Street, Millinocket, ME 04462

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For Sale

$219,900

3 baths • 1 half baths • 3,485 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Other Residential
    Property type

  • $63.10
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

9.4% CAP Rate at only 75% occupancy! Three immaculate residential units with attached Retail/Commercial space. The Katahdin House is a multi-use building ideally situated along the Baxter State Park southern access road and boasts 3, 2 & 1 bedroom apartments that are currently leased or avail, as well as, a currently available 1025 sq. ft. attached commercial or retail space. The fully furnished residential units have also previously been used as short term rentals via Airbnb with extra bedding and linens included for potential future AirBnb rentals. Top floor fully furnished 3 bedroom unit is 1,300 sq. ft., full bath, spacious kitchen, and living room. Fully covered stairwell provides access with amply sized landing before entering by large closet with full hook ups for a W/D. Ground floor fully and tastefully furnished 1 bedroom and unfurnished 2 bedroom units with full baths are accessed via a common space vestibule. Attached 1,025 sq. ft. commercial or retail space with unfinished half bath has existing built-in counter space and moveable showcase. 18' high signpost is ready for the new business' signage. The property sits at the edge of town and highly visible along the Katahdin Woods Scenic Byway and gateway to Baxter S.P., the Debsconeag Wilderness Area, West Branch of the Penobscot River, Pemadumcook lakes and the Allagash Wilderness. The location is also a short drive to the newly established KW&W National Monument and town amenities are just minutes away. Recreational enthusiasts and Artists are year-round visitors here and pass by this highly visible location toward their destinations. Hikers, fisherman, campers, boaters, white water adventurers, nature lovers, cyclists and snowmobilers all flock here. Excellent opportunity to start your own business or, relocate an existing one to a tranquil area while occupying one of the units or, as an investment property within a revitalized community. ATV and snowmobile access right from your own front door
MLS# 1610015

Courtesy Of Burnell & Bragdon Real Estate Team
70A West Broadway, Lincoln, ME 04457
(207) 794-2700

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Dock, Water Front
  • Architecture Style
    Colonial
  • Exterior Type
    Vinyl Siding
  • Floor Covering
    Carpet, Laminate, Vinyl
  • Heating System
    Baseboard
  • Lot Size
    0.3 Acres

Map and Directions

Directions to 235 Bates Street, Millinocket, ME 04462

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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