About This Home

This 0-bedroom, 2-bathroom residential multi family at 427 Main Street in Norway, ME is listed for $498,500 ($217 per sqft). Built in 1900, the home offers 2,300 sqft of living space on a 0.07 acres lot.

Key Features

  • Built in 1900
  • 0.07 acre lot
  • 2 stories

Property Details

2 stories
2 full
1900

Amenities

A/C
Listing 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.

Monthly Cost Estimate

$2,666/mo

20% down · 6.5% · 30 years

Principal$361
Interest$2,160
Insurance$145

Estimates only. Actual payments may vary.

Location

427 Main Street

Norway, ME 04268

Property Details

Flooring

LaminateTile

Construction

Wood Frame Vinyl Siding

Outdoor Features

Patio

Parking

Tandem

Heating

OilRadiantBaseboard

Cooling

Window Unit(s)Heat Pump

Questions & Answers

This 0-bedroom, 2-bathroom residential multi family at 427 Main Street is listed at $498,500 ($217/sqft). The estimated monthly payment is $2,666 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1900, 0.07 acre lot, 2 stories.

This property is listed by Emily Theriault.

ET

Emily Theriault

Agent at Lakepoint Real Estate, LLC

Listed by Lakepoint Real Estate, LLC · Broker phone: (207) 495-3700 · View on Broker Site · Broker website

MLS# 1685479· Source: Maine Listings· Added to PropertySimple today

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427 Main Street, Norway, ME 04268

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