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    168 Payson Rd Union, ME 04862

    For Sale
    $340,000

    COMMERCIAL - Union, ME

    Property size:
    3,285 SF
    Lot size:
    0.36 Acres
    Days on Market:
    72
    Last Refresh:
    Dec 5 at 9:06 am

    Property Features for 168 Payson Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Rural
    Parking features
    Off Street
    Size
    3,285 SF
    Lot size
    0.36 Acres

    Utilities

    Sewer type
    Private Sewer, Septic Needed
    Water source
    Private, Well

    Building Details

    Year built
    1850
    Flooring type
    Wood
    Building materials
    Wood Siding, Shingle Siding
    Roof type
    Composition

    Lone Pine Real Estate Company (207) 790-3960 [email protected]

    Listing agent Rachael Umstead (207) 230-8300

    Listing date Sep 25, 2025

    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.

    Overview

    Historic Grist Mill with Water Rights

    This historic grist mill, situated on approximately 0.36 acres in East Union Village, offers over 3,200 square feet of space. The building, in need of major renovation, presents potential for continued production, retail use, studio space, or storage. Operating as a grist mill since the early 1800s and grinding flour for the past 40 years, the property includes the mill building, the surrounding lot, and the dam at the mill, as well as additional land between Lermond Pond and Mill Pond, including the dam at that location. The property conveys with historic water rights between Alford Lake and Lermond Pond, underscoring the owner's role in maintaining the water levels across this watershed area. This property offers commercial potential and environmental significance.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Law Firm Building Supply Bakery Arcade & Gaming Center Carpet & Flooring Store Toy Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Union
    County
    Knox
    State
    Maine
    Longitude
    -69.224491
    Latitude
    44.214146

    Nearby Similar for Sale

    • $499,000
      122.40 Acres

      Union, ME Land Parcel

      122+/- acre parcel with blueberry fields and mature woodlands.
      3 Clarry Hill Ln, Union, ME 04862
      View Details

    FAQs

    What type of property is this?
    Specialty property - Iconic grist mill with water rights in East Union Village.
    Where is this specialty property located?
    The property is located at 168 Payson Rd Union, ME.
    What is the asking price?
    The asking price for this property is $340,000.
    What are key features of this property?
    This property features: - Historic Grist Mill with Water Rights: Own a piece of Maine history operating since the early 1800s.; - Significant Water Rights: Property conveys with historic water rights influencing water levels across the watershed.; - Substantial Square Footage: Over 3,200 square feet of space offers endless potential.
    (207) 230-8300
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    Union, ME 04862
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    Realmo Value Estimation

    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.

    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.

    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
    168 Payson Rd Union, ME 04862
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