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553 Shore Road

Cape Elizabeth, ME 04107

4 beds
3 baths
2,422 sqft
10,454 sqft lot
$699 per sqft
1900 build
– on site

Nestled along the prestigious Shore Road, this distinguished Georgian Colonial residence presents a versatile mixed-use opportunity. Boasting commercial space on the ground floor and two spacious apartments spanning the upper levels, this property epitomizes convenience and amazing potential. Offered as a very successful ''turn-key'' rental business, with most furnishings included, it also holds promise for diverse ventures within the BA zone. Positioned at the gateway to Cape Elizabeth, this property enjoys unrivaled prominence, surrounded by pristine beaches, scenic parks, and an array of dining, entertainment, and cultural amenities within easy walking distance. Meticulously preserving its original charm, while selectively modernizing essential features, this property seamlessly blends timeless elegance with contemporary functionality. Ideal for entrepreneurs, owner-occupiers, or those seeking to capitalize on the bustling yet idyllic coastal atmosphere, this property represents a prime investment opportunity. Excellent furnished, monthly rental income of the two residential units, combined with the presence of a first-floor commercial space and garage, underscores the significant income potential of this distinctive property. Whether establishing a business or embracing the allure of coastal living, this property promises both distinction and potential in equal measure.

Listing courtesy of MREIS / Townsend Real Estate

Last checked: Checking… • Last updated May 19, 2024 •

MLS# 1587627 —

The Building

Year Built:

1900
Construction Materials:

Wood Siding, Wood Frame
Roof:

Shingle
Basement:

Full, Interior Entry
Direction Faces:

None
Window Features:

None
Building Features:

None
Patio And Porch Features:

Porch
Building Area Total:

2422.0
Building Area Source:

Public Records

Interior

Rooms Total:

11
Kitchen:

true
Fireplace:

true
Fireplace Features:

None

Room Dimensions

Living Area:

None

Financial & Terms

Land Lease:

false

Location

Directions:

None

The Property

Lot Features:

Level, Open Lot, Sidewalks, Landscaped, Near Public Beach, Near Town, Neighborhood
Lot Size:

10,454 Sqft
Lot Size Area:

0.24
Lot Size Acres:

0.24
Lot Size Units:

Acres
Lot Size Source:

Public Records
Lot Size Dimensions:

None
Zoning:

BA
Property Attached:

No
Current Use:

None
Possible Use:

None
Topography:

None
Waterfront:

false
Road Surface Type:

Paved
Other Equipment:

None

Listing Agent

Contact info:

Taxes

Tax Year:

2023
Tax Annual Amount:

$7,406

Beds

Bedrooms Total:

4

Baths

Full Baths:

2
Three Quarter Baths:

None
Half Baths:

1
Partial Baths:

None
Quarter Baths:

None

The Listing

Virtual Tour URL Branded:

None
Buyer's Brokerage Compensation:

2.0000

Heating & Cooling

Heating:

Steam, Heat Pump
Heating:

true
Cooling:

true
Cooling:

Heat Pump

Utilities

Electric:

Circuit Breakers
Sewer:

Private Sewer
Water Source:

Public

Schools

Elementary School:

None
Middle Or Junior School:

None
High School:

None

The Community

Spa Features:

None
Pool Private:

No
Association Amenities:

None
Association Fee Includes:

None
Association:

false

Parking

Garage:

true
Attached Garage:

false
Garage Spaces:

2.0
Carport Spaces:

None
Parking Features:

5 - 10 Spaces, Paved, Detached, Off Street

Monthly cost estimate

Asking price

$1,695,000

Expense	Monthly cost
Mortgage	$9,076
Taxes	$617
Insurance	$466
Utilities	$462 See report
Total	$10,621/mo.^*
	^*This is an estimate

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Air Pollution Index

Provided by ClearlyEnergy

Sale history

Date	Event	Source	Price	% Change
5/19/24 May 19, 2024	Price Changed	MREIS	$1,695,000	-4.5%
5/10/24 May 10, 2024	Price Changed	MREIS	$1,775,000	-5.3%
4/27/24 Apr 27, 2024	Listed / Active	MREIS	$1,875,000

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Similar sold homes

This house located in Willard Square, Cape Elizabeth, ME 04107 is currently for sale for $1,695,000. 553 Shore Road is a 2,422 square foot house with 4 beds and 3 baths that has been on Estately for 25 days. 553 Shore Road is in the Willard Square neighborhood of Cape Elizabeth and has a WalkScore® of 70, making it somewhat walkable. This house is in the attendance area of Pond Cove Elementary School, Cape Elizabeth Middle School, and Cape Elizabeth High School.

Listing Provided Courtesy of Townsend Real Estate

Listing data is derived in whole or in part from the Maine IDX & is for consumers' personal, non-commercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. © 2024 Maine Real Estate Information System, Inc. All Rights Reserved. This website does not display complete Listings. Certain Listings of other real estate brokerage firms have been excluded.

The offer of compensation listed above is made to, and can only be accepted by, participants of the multiple listing service in which this listing is filed.