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Turnkey investment opportunity currently operating at a cap rate of 11.95% located on 3.3 acres of land alongside the Cocheco River and Farmington Country Club. This property includes a 4-unit residential building and an auto mechanic shop with an additional 2-bedroom apartment and office space. The long-running auto mechanic shop is leased for $1,600/mo, and is grandfathered in as the only mechanic shop allowed in Farmington's main commercial district. All residential units are leased at market rents, and common areas of the building are clean and well-maintained. Will work well for investors looking for passive income from a stabilized property that does not need a lot of work, and could possibly be expanded beyond its current footprint.

Property Details of 297 Main Street

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Listed by Evan Cochran and Franco DiRienzo of Keller Williams Coastal Realty
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