Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    673 River Ave Gardiner, ME 04345

    Sponsored
    For Sale
    $299,000

    MULTI_FAMILY - Other - Gardiner, ME

    Property size:
    3,641 SF
    Lot size:
    0.08 Acres
    Days on Market:
    1
    Last Refresh:
    Jan 23 at 2:06 pm

    Property Features for 673 River Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    12
    Rooms
    Bathroom 1, Bathroom 3, Bathroom 4, Bathroom 2, Basement
    Parking features
    Driveway, On Street
    Basement
    Unfinished, Full, Sump Pump
    Size
    3,641 SF
    Lot size
    0.08 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Hot Water(Heating), Baseboard
    Water source
    Public

    Building Details

    Year built
    1890
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Vinyl, Carpet
    Building materials
    Vinyl Siding, Wood Frame
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Jessica Wallimann

    Vitalius Real Estate Group (207) 541-3755

    Listing agent Jessica Wallimann (207) 541-3755

    Listing date Jan 23, 2026

    MLS# 1650137 Listing URL

    Copyright © 2026 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.

    Learn more

    Property Insight Report

    Overview

    Income-Producing Four-Unit Property

    This income-producing four-unit property presents a value-add opportunity. Each unit features a two-bedroom layout and separate heating systems. Utilities are tenant-paid. The property benefits from a strong rental history and professional management. It is located a few minutes from downtown Gardiner and approximately 15 minutes from Augusta. The property is suitable for investors or owner-occupants looking to build long-term value. The lot size is 0.08 acres. The property size is 3641 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Auto Parts Store Department Store Food Market Grocery Store Discount Store Tech Support Center Computer & Electronic Repair

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

    Location Insight

    • Map
    • Local Demand
    City
    Gardiner
    County
    Kennebec
    State
    Maine
    Longitude
    -69.757145
    Latitude
    44.184798

    Nearby Similar for Sale

    • $265,455
      1,024 SF

      Gardiner Ranch Style Multi-Family

      Two-unit apartment building in a convenient location.
      25 Middle St, Gardiner, ME 04345
      View Details
    • $244,800
      4,513 SF

      Former Office/Retirement Home in Gardiner

      Spacious 4,500+ sq ft building near downtown Gardiner amenities.
      36 Brunswick Ave, Gardiner, ME 04345
      View Details
    • $244,800
      4,513 SF

      Gardiner Multifamily Property For Sale

      Former office/retirement home near downtown Gardiner, being sold as-is.
      36 Brunswick Ave, Gardiner, ME 04345
      View Details
    • $625,000
      2,876 SF

      New Duplex Near Trade School

      New energy-efficient duplex with garages, close to highway and school.
      33 Ash St, Gardiner, ME 04345
      View Details
    • $540,000

      Mixed-Use Property in Downtown Gardiner

      Mixed-use property with retail and residential income potential.
      177 Water St, Gardiner, ME 04345
      View Details
    • $5,100,000
      48,771 SF

      Fully Leased Gardiner Office Building

      48,771 SF office building fully leased through 2033.
      76 Northern Ave, Gardiner, ME 04345
      View Details
    • $499,900
      11,340 SF

      Downtown Gardiner Mixed-Use Building

      Mixed-use building in downtown Gardiner with income potential.
      218 Water St, Gardiner, ME 04345
      View Details
    • $5,100,000
      9.50 Acres

      Prime Gardiner Office Building

      Fully-leased, high-return investment.
      76 Northern Ave, Gardiner, ME 04345
      View Details

    FAQs

    What type of property is this?
    Quadplex - Four-unit property with strong rental history near downtown Gardiner.
    Where is this quadplex located?
    The property is located at 673 River Ave Gardiner, ME.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: - Income-producing 4-unit property.; - Value-add opportunity.; - All units have 2-bedroom layouts.
    (207) 541-3755
    Request Owner's contact information
    673 River Ave Gardiner, ME 04345
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    673 River Ave
    Gardiner, ME 04345
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    673 River Ave Gardiner, ME 04345
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jessica Wallimann
    (207) 541-3755
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.