A rare opportunity to restore and reimagine a classic Main Street Colonial in the heart of Orono. Set on an unusually spacious ¾-acre in-town lot with approximately 150 feet of road frontage, this four-bedroom, 2.5-bath home offers ample off-street parking, hot-water baseboard heat, and a new roof installed in 2025. Currently leased through June 2027 and registered with the town, the property has an excellent rental history and offers immediate income with exciting possibilities for the future. Continue its use as an investment property or thoughtfully renew it as a distinctive owner-occupied home after the existing lease ends. The house needs TLC, but its traditional character, generous lot, and central location provide a wonderful foundation for preservation-minded buyers who appreciate the value of restoring an older home. Priced well below its tax-assessed value, this is an opportunity to bring new life to a Main Street property and help preserve the architectural character of downtown Orono. Property is currently leased through May 2027. Showings will be very limited, buyers must be pre-qualified, and seller's broker will be present.