All aboard! A train station is for sale with a huge surprise inside

Train travel had its heyday a century ago. Since then, plenty of stations have been left behind. In Maine, one depot found a particularly fitting reinvention: It became a cannabis shop. Now, it’s on the market for $975,000.

But the real story isn’t just what it sells: It’s what comes with it. Listing agent Anna Boucher explains.

Q: What’s this station’s story? “It was built in 1911 and served as Gardiner’s train station for decades until it became obsolete. Ken Tuttle, who had been revitalizing downtown Gardiner, had an opportunity to purchase the station and couldn’t pass it up. It’s one of those properties that stops you in your tracks. He recognized what it meant not just architecturally, but for the downtown as a whole.”

Q: What does this property serve as today? “The building is leased to a cannabis dispensary, HighNorth Mystique. They’ve done a nice job bringing in steady traffic downtown. Recreational cannabis has been legal in Maine since 2016, with retail sales starting in 2020. This isn’t the only dispensary in the area, but it’s definitely one of the most visible.”

Q: What are this property’s high points, so to speak, as an investment? “Current rent is $5,200 per month with annual increases on a triple net lease. The seller is open to owner financing, in which the seller carries the note, which is more flexible than traditional bank financing. Plus, one underrated part of the property is a lower parcel along the Kennebec River that’s just sitting there as an old parking area. It’s one of those ’future value’ pieces that isn’t fully realized yet to create outdoor space or explore recreational or boat access.”

Q: What advice would you have for the buyer? “Understand both sides of this property: the income side and the future opportunity side. You’ve got a historic structure in a walkable downtown, a tenant in place covering expenses, and additional upside with the waterfront. It checks a lot of boxes for someone looking for a blend of stability and long-term potential. You can feel the history in it, but it’s not stuck in the past. Those are the types of properties that hold value over time.”

Click here to see more photos of this listing, and scroll down to learn the surprising perks of this property’s triple-net lease (and why you might want one, too).