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Orono, Maine Multi-Use Investment Opportunity | Mill Street, Orono Well-positioned multi-use property offering strong investment potential in a highly accessible Orono location. This vacant three-story building provides flexibility for an owner-investor or operator to establish lease structures, rental rates, and tenant mix based on current market conditions and permitted uses. The property supports a variety of potential configurations, including residential, office, and commercial applications (subject to local approvals). Its vacant condition allows for immediate updates, leasing, or occupancy without existing tenancy constraints, offering a streamlined path for repositioning or redevelopment. Recent improvements include updated heating systems and a reinforced foundation, supporting long-term stability and operational efficiency. Residential units are equipped with in-unit washer and dryer connections, and one unit is offered furnished, providing added flexibility for short- or long-term rental strategies. Located on Mill Street with strong visibility, the property includes a garage on site and ample on-site parking to accommodate tenants, customers, or mixed-use configurations. Public transportation access further enhances convenience and connectivity. The location offers close proximity to downtown Orono amenities, including dining, retail, services, and recreation. The nearby University of Maine supports steady demand drivers for both residential and commercial space, while regional transportation access enhances overall accessibility. This property presents a versatile opportunity for investors, owner-users, or developers seeking a flexible asset with repositioning potential in a strong market environment. Schedule a private showing to explore the possibilities this property offers.
Property Type(s):
Commercial
| Last Updated | 6/30/2026 | Year Built | 1910 |
|---|---|---|---|
| County | Penobscot |
Additional Details
| AIR | None |
|---|---|
| BASEMENT | Full, Unfinished, Yes |
| CONSTRUCTION | Stucco, Vinyl Siding |
| GARAGE | Yes |
| HEAT | Baseboard, Hot Water, Zoned |
| LOT | 0.25 acre(s) |
| LOT DIMENSIONS | 0.25 |
| MLS STATUS | Active |
| PARKING | On Site, Paved, Garage |
| SEWER | Public Sewer |
| STORIES | 3 |
| TAXES | 8565 |
| UTILITIES | Propane |
| WATER | Public |
Listing provided by ERA Dawson-Bradford Co.
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.© 2026 Maine Real Estate Information System, Inc. All Rights Reserved. 
Additional school data provided by Onboard Informatics © 2026 Onboard Informatics. Information deemed reliable but not guaranteed.
Mortgage Calculator provided by Diverse Solutions © 2026
IDX data provided by Market Leader, courtesy of Maine Listings.
This IDX solution is (c) Diverse Solutions 2026.
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