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    Unique Kennebunkport Commercial Gem Title is generated by Realmo AI

    245 Arundel Road, Kennebunkport, ME 04046

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    Claim this Listing
    New
    For Sale
    $1,750,000

    COMMERCIAL - Kennebunkport, ME

    Property size:
    10,491 SF
    Lot size:
    7.00 Acres
    Price / SF:
    $166/SF
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 7:06 pm

    Property Features for 245 Arundel Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    FF
    Interior features
    Storage
    Standard status
    Active
    Size
    10,491 SF
    Lot size
    7.00 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    8877

    Utilities

    Sewer type
    Private Sewer
    Heating system
    Geothermal (Heating), Natural Gas, Baseboard, Radiant, Kerosene, Electric (Heating)
    Water source
    Private

    Building Details

    Year built
    1905
    Flooring type
    Laminate, Carpet, Wood, Tile
    Building materials
    Wood Frame, Wood Siding
    Roof type
    Metal
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Eva Sawtelle

    Listing agent Eva Sawtelle

    Listing office Town Square Realty Group 883 Main Street Ste 5 & 6, Sanford, ME

    Listing date Jun 3, 2026

    MLS# 1654679

    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.

    HighLights

    • Renovated 3,100 SF event center with wet bar, industrial prep kitchen, open dining area, and designated bride and groom rooms
    • 4,000 SF garage with space for over 20 cars; could be converted into a barn with up to 16 horse stalls
    • Residential portion offers 5 bedrooms, 3 bathrooms, two kitchens, two washer/dryer sets, vaulted ceilings, heated floor, and hot tub
    • Outdoor event grounds include a small pond with an island and a gazebo with benches
    • Additional outbuildings include a 12x18 shed and a 20x40 barn
    • Metal roof with multiple heating options listed, including geothermal, natural gas, baseboard, radiant, kerosene, and electric

    Overview

    This property features a spacious interior and outdoor scenery. The first level includes a renovated 3,100 square foot event center with a wet bar, coat closet, industrial prep kitchen, and an open dining area suitable for hosting weddings. Designated rooms are available for the bride and groom. A 4,000 square foot garage accommodates over 20 cars and could be converted into a barn with up to 16 horse stalls. The grounds include a small pond with an island and are designed for outdoor events, complete with a gazebo and benches. Additional storage is provided by a 12x18 shed and a 20x40 barn. Potential business opportunities include a horse facility, spa, or mechanic shop. The residential portion offers 5 bedrooms and 3 bathrooms, with two kitchens, two washer/dryer sets, vaulted ceilings, a heated floor, and a hot tub. The upstairs includes a home theater, a game room with a pool table, and a bonus room with a ping pong table. The property is located in a quiet neighborhood and has a lot size of 7 acres. The property is 10,491 square feet and is located in Kennebunkport, Maine. The property is zoned FF.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $198.9k $18.96
    − Vacancy −$16.9k −$1.61
    EGI $182.0k $17.35
    − OpEx −$54.6k −$5.20
    NOI $127.4k $12.14
    10,491 SF · lease $18.96/SF/yr · vacancy 8.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $1.82M
    $1.59M – $2.12M (±1% cap)
    NOI $127,401 @ 7.0% cap · market cap 7.28%
    Second Best
    Industrial
    $1.55M
    $1.35M – $1.80M (±1% cap)
    NOI $108,184 @ 7.0% cap · market cap 6.18%
    Theoretical Best
    Office A
    $3.33M
    $2.91M – $3.88M (±1% cap)
    NOI $232,792 @ 7.0% cap · market cap 13.30%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rockin Horse Wedding Service

    Suggested Use

    Real Estate Agency Spa & Massage Center HVAC Service Electrical Service Catering Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Kennebunkport
    County
    York
    State
    Maine
    Longitude
    -70.467596
    Latitude
    43.4029031

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    FAQs

    What type of property is this?
    Wedding venue - Versatile property with event center, garage, and residential space.
    Where is this wedding venue located?
    The property is located at 245 Arundel Road Kennebunkport, ME.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: Renovated 3,100 SF event center with wet bar, industrial prep kitchen, open dining area, and designated bride and groom rooms; 4,000 SF garage with space for over 20 cars; could be converted into a barn with up to 16 horse stalls; Residential portion offers 5 bedrooms, 3 bathrooms, two kitchens, two washer/dryer sets, vaulted ceilings, heated floor, and hot tub
    (207) 608-8883
    We can help!
    Listing Contact
    Eva Sawtelle
    Request Owner's contact information
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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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