81 Bridge Street, Yarmouth, Maine 04096

$5,250,000
27,696
SqFt

Property Description

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.

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Listing courtesy of John Graham Real Estate.

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