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    558 Norway Rd Harrison, ME 04040

    Sponsored
    For Sale
    $699,000

    COMMERCIAL - Harrison, ME

    Property size:
    2,016 SF
    Lot size:
    23.00 Acres
    Days on Market:
    11
    Last Refresh:
    Feb 28 at 4:06 pm

    Property Features for 558 Norway Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Residential
    Rooms
    Basement
    Interior features
    Storage
    Basement
    Full, Finished
    Size
    2,016 SF
    Lot size
    23.00 Acres

    Utilities

    Sewer type
    Septic Tank, Private Sewer
    Heating system
    Pellet Stove, Hot Water(Heating), Forced Air
    Water source
    Private, Well

    Building Details

    Year built
    1983
    Flooring type
    Laminate, Carpet, Wood
    Building materials
    Vinyl Siding, Wood Frame
    Roof type
    Metal
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Helen Robillard

    Keller Williams Realty (207) 879-9800

    Listing agent Helen Robillard (207) 879-9800

    Listing date Feb 18, 2026

    MLS# 1644516

    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.

    Learn more

    Property Insight Report

    Overview

    Versatile Commercial Property on 23 Acres

    Located just off Rte. 117, this property features 23 private acres set back from the road, ensuring low road noise. The property includes a large paved driveway with ample parking, a well-landscaped front and side lawn with a quality swing set. The open-concept home has exposed beams in the living room, an open loft bedroom, a second bedroom, and a full bathroom on the second floor. The first floor features a living room, kitchen, half bath with laundry, and an enclosed four-season porch. The basement is 3/4 finished, offering office space and enclosed storage. The main garage measures 30x85 (2550 sq ft) with an 18x40 (720 sq ft) section on the left, a 180 ft canopy, and a 68x16 (1088 sq. ft) section on the right with a 272 ft canopy. The front of the garage has two electric 12 x 14 overhead garage doors, and the back has a 20 x 14 garage door. A gantry crane with a 2-ton electric hoist is located in the rear, along with a large air compressor with air drops throughout the main garage and a waste oil heater with a large storage tank. Additional storage is available off both sides of the garage. The second garage houses a Central Boiler - Outdoor Wood Pellet Boiler (optional heating source for house or garage) and includes garage door access and a large side door. Additional acres have been recently harvested, offering possibilities for further development or brook access. The ceiling height in the garage is 20 feet. This location is suitable for various businesses, including logging, landscaping, auto repair, foundations, paving, and well drilling. The property is also listed as residential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Auto Repair Shop Gym & Fitness Center Department Store Discount Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrison
    County
    Cumberland
    State
    Maine
    Longitude
    -70.6481703
    Latitude
    44.1391115

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    • $799,000
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      Established Marine Center in Lakes Region

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    FAQs

    What type of property is this?
    Warehouse - Commercial property with residential and garage space on 23 acres.
    Where is this warehouse located?
    The property is located at 558 Norway Rd Harrison, ME.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: - Massive 30x85 (2550 sq ft) main garage with 20-foot ceilings, gantry crane, air compressor, and waste oil heater, ideal for business or hobby use.; - 23 private acres offering development potential and brook access.; - Additional garage with Central Boiler - Outdoor Wood Pellet Boiler (optional heating source for house or garage).
    (207) 743-1193
    Request Owner's contact information
    558 Norway Rd Harrison, ME 04040
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    Harrison, ME 04040
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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
    558 Norway Rd Harrison, ME 04040
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    We can help!
    Listing Contact
    Helen Robillard
    (207) 743-1193 (207) 879-9800 (207) 689-9800
    Learn more
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