About this home
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. 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, combining dependable in-place income with long-term appreciation potential.
Listing last checked: Listing updated:
Listed by Listing Agent · The Dunham Group · MLS #1671576
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Details at a glance
Interior3 property facts
- Heating
- Baseboard
- Cooling
- None
- Flooring
- Carpet, Vinyl
Building4 property facts
- Style
- Mixed Use
- Year built
- 1900
- Foundation
- Granite,Poured Concrete
- Roof
- Flat, Tar/Gravel
Land & utilities4 property facts
- Lot size
- 0.07 acres
- Water
- Public
- Sewer
- Public Sewer
- Zoning
- MSRD1
Financial2 property facts
- Annual taxes
- $8,553
- Assessment year
- 2026
Location
Estimated monthly cost
Explore costs at the $1,300,000 asking price. Adjust the assumptions to your situation.
Known monthly costs$7,286 / monthAdjust
- Principal & interest
- $6,574
- Property tax
- $713
- Insurance
- Not entered
- HOA
- Not entered
Listing annual taxes: $8,553. Initial monthly tax is one twelfth of that amount. HOA amount was not supplied.
Partial estimate: add insurance, monthly HOA to include those costs. Blank amounts are unknown.
The initial 6.5% rate is illustrative, not a current rate or lender quote. Excludes utilities, maintenance, closing costs and mortgage insurance, which may apply with a down payment below 20%. Taxes and insurance can change.
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About 311 Main Street
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