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    Property profile & analytics

    20 Shr Rd1a Ogunquit, ME 03907-3700

    • Commercial real estate
    • 1,628 SF
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    Apr 26, 2023
    $590,000
    Value Estimations
    $370,000
    Show details
    Cap Rate Potential
    5.3%
    Commercial real estate
    Location Intelligence
    Property ID
    US42-0290887
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Twenty Shore Guest Suites / Hotel / Inn
    • Ogunquit Chamber of Commerce Welcome Center / Chamber Of Commerce
    • Talking Threads Market / Vintage Clothing Store
    • Meyra Lamps & Jewelry / Home Goods Store / Jewelry Store
    • Daisy Trading Co / Gift Shop

    Property Details for 20 Shr Rd1a

    Year built
    1960
    Lot size
    0.14 lot acres
    Property size
    1,628 SF
    Zone code
    DBD
    Property type
    Commercial real estate
    APN
    OGUN M:007 L:118 U:003
    APU
    OGUNM007L118U003

    Description

    This exceptional 1,796 square foot commercial condo, located at 20 Shore Road in Ogunquit, Maine, presents a unique investment opportunity. Situated on a 0.14-acre lot in the heart of Ogunquit Village, this property boasts a highly desirable location with high foot traffic and proximity to numerous shops and restaurants. Recently approved for both retail and office use, the space offers a versatile layout ideal for a variety of businesses. The interior features a custom design incorporating both open-concept areas perfect for showcasing merchandise or client interaction, and dedicated meeting spaces for more private consultations. High-end finishes include a welcoming fireplace, custom lighting, and a sleek kitchenette. Two bathrooms add to the convenience. A private, off-street entrance ensures easy client and employee access. The property is currently configured for retail or office use, but with a simple permit change, it could be adapted for a food takeout establishment, capitalizing on the strong demand for new dining options in the area. Available for immediate occupancy, this property offers the perfect blend of location, amenities, and flexibility for a thriving business. The asking price is $575,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $380,000
      ML approach
      $410,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $335,000
      6.5%
      $310,000
      7%
      $290,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $310,000
      Market price range: $205k - $727k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ogunquit
    County
    York
    State
    Maine
    Longitude
    -70.5995
    Latitude
    43.2483
    CBSA code
    38860
    CBSA name
    PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,264
    $75,000
    $430,300
    $505,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $255,000
      0.96 Acres

      267 Main St

      COMMERCIAL (GENERAL) • 0.96 Acres
      267 Main St, Ogunquit, ME 03907-3216
      View Details
    • Value Estimation
      $320,000
      800 SF

      134 Shr Rd

      COMMERCIAL (GENERAL) • 800 SF
      134 Shr Rd, Ogunquit, ME 03907
      View Details
    • Value Estimation
      $290,000
      1,791 SF

      95 Perkins Cv Rdc

      COMMERCIAL CONDOMINUIM • 1,791 SF
      95 Perkins Cv Rdc, Ogunquit, ME 03907
      View Details
    • Value Estimation
      $420,000
      4,492 SF

      36 Beachmere Pl, Unit 7

      COMMERCIAL CONDOMINUIM • 4,492 SF
      36 Beachmere Pl, Ogunquit, ME 03907-3714
      View Details
    • Value Estimation
      $1,020,000
      2,047 SF

      22 Berwick Rd

      COMMERCIAL (GENERAL) • 2,047 SF
      22 Berwick Rd, Ogunquit, ME 03907
      View Details
    • Value Estimation
      $375,000
      2,894 SF

      13 Bournes Ln

      COMMERCIAL (GENERAL) • 2,894 SF
      13 Bournes Ln, Ogunquit, ME 03907-3815
      View Details

    Similar Nearby for Sale

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      5,525 SF

      Prime Ogunquit Commercial Inn

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    • $4,950,000
      12,608 SF

      Santa Clara Flex Space, 96,500 SF

      Industrial Condo, Ideal for Business
      309 Shore Rd, Ogunquit, ME 03907
      View Details
    • Contact for pricing
      4,679 SF

      Ogunquit Restaurant with Pizzeria

      Established restaurant with pizzeria, lounge, and apartment near Perkins Cove.
      200 Shore Rd, Ogunquit, ME 03907
      View Details
    • $539,000
      1,796 SF

      Ogunquit Village Commercial Condominium

      Renovated commercial space in the heart of Ogunquit Village.
      20 Shr Rd Unit 1R, Ogunquit, ME 03907
      View Details
    • $3,299,000
      1,368 SF

      Ocean View Multi-Family Investment

      Renovated multi-family property with ocean views and rental income potential.
      117 Perkins Cv Rd, Ogunquit, ME 03907
      View Details
    • $1,650,000
      0.34 Acres

      Waterfront Lot in Perkins Cove

      Rare .34-acre waterfront lot in the heart of Perkins Cove.
      413 Shore Rd, Ogunquit, ME 03907
      View Details
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    Ogunquit, ME 03907-3700
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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
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