South Portland Sober Living
Overview
Lease and Income Structure
884 Broadway, South Portland, ME 04106 is an established men's recovery residence in South Portland, Maine, operating as a two-family home converted for recovery housing use. The home is configured for a 26-bed recovery housing model and is certified by MARR. It has served the community for approximately two years and is presented as an existing, operational housing resource in a strong South Portland location.
The sale includes both the real estate and the operating business established at the residence, including the existing operational infrastructure, referral relationships, funding partnerships, and other core elements needed to support ongoing recovery housing operations. For a buyer seeking an established recovery housing asset rather than a ground-up startup, 884 Broadway offers the ability to step into an existing operation with continuity and credibility already in place.
The offering may suit a recovery housing operator, mission-driven investor, or buyer seeking an existing income-producing recovery residence in a desirable Maine market. It is presented primarily as a vertically integrated opportunity in which the buyer may own and operate the home, while also noting that the property could support a triple-net lease structure with a qualified third-party operator. Projected stabilized recovery housing value is approximately $1,800,000, with a residential fallback value of approximately $1,300,000.
Work Needed
The property is generally suitable for its current use as a recovery residence and does not require substantial redevelopment to continue operating. The primary remaining improvement is the addition of a full bathroom on the second floor to improve functionality and better support residential occupancy. Grant funding for this improvement has been offered in the amount of $60,000, which is expected to cover the planned work and reduce the additional capital required from a buyer.