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Listed by Emily Theriault Portside Real Estate Group
$498,500
Est. payment /mo
2 Baths
2,300 SqFt
New
427 Main ST Norway, ME 04268
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,300 sqft
Price per Sqft $216
MLS Listing ID 1685479
Full Baths 2
HOA Y/N No
Year Built 1900
Tax Year 2025
Lot Size 3,049 Sqft
Acres 0.07
Source Maine Listings
Land Area 2300
Property Description
Prime Main Street Mixed-Use Investment Opportunity in Downtown Norway! Located along the vibrant and historic Main Street in Norway, Maine, 427 Main Street presents an exceptional opportunity to own a beautifully updated mixed-use property in the heart of one of the area's most charming downtown communities. Currently home to Dolce Amici restaurant on the first floor, with two tastefully renovated one-bedroom apartments above, this property offers an appealing combination of commercial and residential space with multiple income-producing possibilities. Surrounded by locally owned shops, restaurants, galleries, and a welcoming downtown atmosphere, this desirable Main Street location offers excellent visibility and convenient access for customers and residents alike. The first-floor commercial space features an inviting restaurant setting with outdoor seating that adds to the charm and energy of downtown Norway. On-site parking further enhances the property's appeal and convenience. Since 2019, the building has benefited from substantial renovations and thoughtful improvements, creating a more modern, efficient, and attractive property while preserving its downtown character. Investments include a new heating system in 2020, updated first-floor windows and flooring, energy-efficient heat pumps, and significant electrical and plumbing upgrades. Both second-floor apartments have been tastefully renovated, offering comfortable and inviting living spaces, while new exterior stairs provide improved access to the residential units. For an investor, the combination of established commercial space and two residential apartments creates an attractive opportunity for diversified rental income. For a restaurant owner or entrepreneur seeking to own their commercial real estate, the property's desirable location, existing restaurant layout, and potential for supplemental apartment income offer a compelling long-term investment.
Location
State ME
County Oxford
Zoning COMMERCIAL
Direction GPS Compliant
Rooms
Basement Exterior Entry, Unfinished
Interior
Heating Oil, Baseboard, Radiant
Cooling Heat Pump, Window Unit(s)
Flooring Laminate, Tile
Furnishings Unfurnished
Fireplace No
Exterior
Parking Features Gravel, 1 - 4 Spaces, On Site, Tandem
Roof Type Shingle
Porch Patio
Garage No
Building
Lot Description Intown, Level, Sidewalks
Story 2
Water Public
Architectural Style New Englander
Level or Stories 2
Others
Tax ID NORY-000027-000000-000147
NEARBY SCHOOL & BUSINESS
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