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    2388 Main Street Rangeley, ME 04970

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    Claim this Listing
    For Sale
    $529,000

    COMMERCIAL - Rangeley, ME

    Property size:
    1,664 SF
    Lot size:
    0.31 Acres
    Added:
    Mar 16, 2026
    Days on Market:
    36
    Last Refresh:
    Apr 20 at 1:06 pm

    Property Features for 2388 Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    RES
    Rooms
    Basement
    Parking features
    Off Street
    Basement
    Unfinished, Full
    Standard status
    Active
    Size
    1,664 SF
    Lot size
    0.31 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2555

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Other (Heating), Steam
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1928
    Flooring type
    Carpet
    Building materials
    Vinyl Siding, Wood Frame
    Roof type
    Shingle, Metal

    We can help!

    Listing Contact
    Earl Bowen

    Listing agent Earl Bowen

    Listing office Noyes Real Estate Agency 2198 Main Street, Rangeley, ME

    Listing date Mar 16, 2026

    MLS# 1646873

    Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Rangeley Commercial Space on Main

    This 1664 square foot commercial property, located on Main Street in Rangeley, Maine, offers a versatile space suitable for a commercial office, retail space, or hair salon/spa/massage therapy business. The property features 832 square feet on each of two floors, complemented by two additional enclosed porches at the front and back, providing an extra 384 square feet of seasonal retail space, bringing the total area to over 2000 square feet. The 832 square foot basement, with a separate entrance for deliveries, offers ample space for shipping, receiving, and retail inventory storage. Recent renovations include drywall resurfacing, priming, and maple flooring sanded with a clear satin polyurethane finish, ready for customization. The property combines the charm of a 1920s building with updated elegance. It could also be converted back into a 4-bedroom, 2-bath home with minimal effort. Town water, town sewer, and Fidium Fiber Internet are already installed. The property provides direct access to both ATV and sled trails and is within walking distance of downtown restaurants, shopping, and the town park. It is also located 10 minutes from Saddleback Ski Area and close to a public boat launch. The lot size is 0.31 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Building Supply Restaurant Big Box & Wholesale Store Law Firm Dental Office Kitchen & Bath Showroom Food Market Nail Salon Accounting Firm Real Estate Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    Rangeley
    County
    Franklin
    State
    Maine
    Longitude
    -70.6401233
    Latitude
    44.9618873

    FAQs

    What type of property is this?
    Storefront property - Commercial property on Main Street suitable for office or retail.
    Where is this storefront property located?
    The property is located at 2388 Main Street Rangeley, ME.
    What is the asking price?
    The asking price for this property is $529,000.
    What are key features of this property?
    This property features: Prime Main Street location in Rangeley, Maine, suitable for commercial or residential use.; Versatile 1664 sq ft commercial space with potential for retail, office, salon, or residential conversion.; Recent renovations including resurfaced drywall and refinished maple flooring.
    (207) 670-8837
    We can help!
    Listing Contact
    Earl Bowen
    Learn More
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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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