81 Bridge Street

Yarmouth, ME, 04096

$5,250,000

$5,250,000
Active
Active
 - For Sale
carpenters-square
27,696 ft²
property_type
Commercial
calendar
Built 1850
Built in 1840, the Sparhawk Mill is a true landmark legacy property perched on the majestic Royal River in Yarmouth, Maine. This brick complex with its famous bell tower (bell still there) is an architectural icon. Frequently photographed and featured in numerous publications, the Sparhawk Mill has been lovingly transformed from its past industrial life into cutting edge contemporary office suites achieving the perfect blend of past and present. Extensive renovations include new roofs, new windows, new gas heating systems, newly paved parking lot (70+ parking spots), as well as new kitchens and baths added to all units. The Sparhawk community is now a hub of creativity, including three highly regarded marketing firms, a top notch interior designer, a renowned music teacher, a long-term engineering firm, a high-end food importer, and the award winning Garrison Restaurant/Dandelion Catering company. Although the Sparhawk Mill is just a couple minutes off Route 1 and I-295, upon arrival you feel the tranquility of its country setting. Picturesque views from every window. Zoning allows many future opportunities including: Additional building(s), Condominiums, Boutique Hotel, Residential Penthouse(s) The property has only 10 tenants (one vacant unit for potential owner user), all leases are NNN and are currently under market value. 3% yearly accelerator clauses, provides the owner $10,000 in additional revenue each year. This property is easy to manage for any owner. Projected NOI of $345,500 with self management.
MLS® ID:
1512484
Updated:
8/13/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Floor Description
Wood
Cooling
A/C Units, Heat Pump
Heating
Direct Vent Furnace, Hot Air, Heat Pump

Exterior/Building Features

Lot Size
2.2 acres lot
Exterior Features
Brick
Sewer
Public Sewer

Other Property Details

Taxes
$15733
Tax Frequency
per YEAR
Garage
No
Parking
21 Spaces, On Site, Paved
County
Cumberland
Water Source
Public
Pool
No
Zoning
General Development

Listed by , John Graham Real Estate

Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. © 2022 Maine Real Estate Information System, Inc. All Rights Reserved. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor David Banks Team shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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Data last updated 9:53 PM UTC, 8/13/22

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