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    The Largest CRE Database in the US with Over 1 Million Listings

    10 S Arm Rd East Andover, ME 04226

    Sponsored
    For Sale
    $2,250,000

    MULTI_FAMILY - Andover, ME

    Property size:
    9,600 SF
    Lot size:
    126.00 Acres
    Days on Market:
    168
    Last Refresh:
    Feb 3 at 10:06 pm

    Property Features for 10 S Arm Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Mixed
    Rooms
    Basement
    Basement
    Full, Walk-Out Access
    Size
    9,600 SF
    Lot size
    126.00 Acres

    Utilities

    Sewer type
    Private Sewer
    Heating system
    Wood, Wood Stove, Forced Air, Baseboard
    Water source
    Private

    Building Details

    Flooring type
    Wood
    Building materials
    Wood Siding, Wood Frame
    Roof type
    Composition

    We can help!

    Listing Contact
    Jason Clark
    Jason Clark

    Coldwell Banker Realty

    Listing agent Jason Clark (207) 967-9900

    Listing date Aug 20, 2025

    MLS# 1632205

    Copyright © 2025 Maine Real Estate Information System, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Historic Estate with Income Potential

    The Merrill House, a historic estate at 10 South Arm Road in Andover, Maine, offers a unique opportunity to own a piece of American history. This 126-acre property, known for its timeless elegance, features a vast Gilded Age country estate in the mountains of Western Maine. The property has a storied past, with contributions from influential architects Stanford White and Frederick Law Olmstead during its expansion in the early 1900s by Henry Varnum Poor, one of the founders of Standard and Poor's. The property has been home to eight generations of the same family and has served as the setting for a major motion picture, as well as a profitable retreat, event, and vacation rental. The main home spans 9,600 square feet and includes 16 bedrooms and 7 bathrooms, a stately dining room, and an impressive Great Hall. The property also includes an income-producing caretaker's cottage and ample garage and workshop space. The property is partially heated, supporting three-season occupancy of up to 32 overnight guests, and four-season occupancy for up to 12 overnight guests in 6 bedrooms with 2 full and 2 half baths, a study, and the Great Hall, supported by 200-amp electrical service and updated plumbing. The grounds feature six acres of manicured lawns, trails, and impressive views. The mixed-use zoned property is suited for a wedding venue, outdoor adventure base, or a retreat center. Nearby recreational opportunities include the Sunday River and Black Mountain ski areas, the Appalachian Trail, and numerous walking, biking, ski, and motorsports trails.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

    Real Estate Agency Travel Agency (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    East Andover
    County
    Oxford
    State
    Maine
    Longitude
    -70.7278
    Latitude
    44.6039

    FAQs

    What type of property is this?
    Hotel - Vast Gilded Age estate on 126 acres in Western Maine.
    Where is this hotel located?
    The property is located at 10 S Arm Rd East Andover, ME.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: - Historic Gilded Age estate on 126 acres with documented ties to Henry Varnum Poor, Stanford White, and Frederick Law Olmstead.; - Proven income-producing property with potential as a wedding venue, retreat center, or outdoor adventure base.; - **Spacious main house boasts 16 bedrooms, 7 bathrooms, a stately dining room, and an impressive Great Hall.**
    (207) 608-5927
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    10 S Arm Rd East Andover, ME 04226
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    East Andover, ME 04226
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    10 S Arm Rd East Andover, ME 04226
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    We can help!
    Listing Contact
    Jason Clark
    Jason Clark
    (207) 608-5927
    Learn more
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