311 Main StreetBiddeford, ME 04005

Description

Historic Hannaway Building features a street level commercial space with exceptional visibility and three market-rate residential apartments above. The first floor offers highly visible retail, office, or service space fronting Main Street and is located within the MSRD1 (Main Street Revitalization District 1) zoning district, which permits a wide variety of commercial, retail, restaurant, office, medical office, personal service, and other downtown-oriented uses. While an existing commercial tenant occupies the space, the opportunity exists for an owner-user to occupy the first floor, making this an attractive option for businesses seeking to own rather than lease their location. The second floor consists of three renovated two-bedroom, one-bath apartments, each featuring in-unit laundry and benefiting from continued strength in Biddeford's rental market. Recent capital improvements include a newer EPDM rubber roof, heat pumps, updated flooring, renovations to the commercial space, and improvements throughout the residential units. Offered at a 7% capitalization rate, combining dependable in-place income with long-term appreciation potential.

Property Information

Property type

Commercial Sale

Sub-type

Mixed Use

Year built

1900

Building area

6,090 Sq Ft

Lot size

0.07 acres

Zoning

MSRD1

Days on market

122

MLS^® Listing#

1671576

Property Features

Cooling

None

Heating

Baseboard

Flooring

Carpet · Vinyl

Basement

Full · Unfinished

Parking

On Street

Construction

Other · Brick · Frame

Roof

Flat · Tar/Gravel

Utilities

Natural Gas Available

Sewer

Public Sewer

Water source

Public

Financial Details

HOA

None

Annual taxes

$8,553Tax year 2026