311 Main Street, Biddeford, ME 04005 For Sale

Ideally suited for both investors seeking stable cash flow and owner-occupants looking to establish

a presence in one of Southern Maine’s fastest-growing downtown markets, the 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, providing

additional upside through future rent growth. 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, 311 Main Street combines dependable in-place income with

long-term appreciation potential in one of Maine’s most dynamic downtowns. Whether purchased

as a stabilized investment or as a future owner-occupied mixed-use property, this asset offers

flexibility, strong fundamentals, and an exceptional Main Street location.