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    Maine Waterfront Event Venue Title is generated by Realmo AI

    826 Somerville Road, Somerville, ME 04348

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    For Sale
    $679,000

    COMMERCIAL - Somerville, ME

    Property size:
    5,160 SF
    Lot size:
    25.80 Acres
    Price / SF:
    $131/SF
    Added:
    May 26, 2026
    Days on Market:
    12
    Last Refresh:
    Jun 6 at 2:06 pm

    Property Features for 826 Somerville Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Rural/Shoreland
    Rooms
    Basement
    Interior features
    Storage
    Basement
    Unfinished, Full, Walk-Out Access
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    Size
    5,160 SF
    Lot size
    25.80 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    5603

    Utilities

    Sewer type
    Septic Tank, Private Sewer
    Heating system
    Baseboard, Hot Water(Heating), Oil, Zoned
    Cooling system
    Central Air
    Water source
    Private, Well
    Water front features
    Stream, Lake
    Water front
    1

    Building Details

    Year built
    2000
    Flooring type
    Concrete, Laminate, Vinyl
    Building materials
    Wood Frame, Block, Clapboard, Fiber Cement, Wood Siding
    Roof type
    Shingle, Metal
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Michael Roddy

    Listing agent Michael Roddy

    Listing office Your Home Sold Guaranteed Realty 704 Maine Avenue, Hallowell, ME

    Listing date May 26, 2026

    MLS# 1651718

    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

    • 25+ acre waterfront property with 1,500+ feet of shoreline.
    • Established, income‑producing event venue with a renovated hall and covered wedding pavilion.
    • Features a commercial‑grade kitchen, updated plumbing/electrical, and ample parking.
    • Versatile space suitable for events or redevelopment into a campground or residential subdivision.
    • Basement plumbed for showers, potentially convertible to living quarters, currently includes a gym area.
    • Active Dance License and all Fire Marshal certifications in place.

    Overview

    This 25.8-acre waterfront property in Somerville, Maine, features over 1,500 feet of shoreline along Long Pond and the Sheepscot River. Formerly a camp facility, the property has been transformed into an event venue, centered around a 5,160 square foot clapboard hall. The hall features a pine-paneled event space, sliding barn doors to storage areas, and a private bridal suite. Renovations include updated plumbing, electrical, and sheetrock, a sprinkler system, newly constructed interior bathrooms, a commercial-grade kitchen, generator hookup, and a basement gym area. The basement is plumbed for showers and could be set up for living quarters. Ample parking is available to accommodate large gatherings. Outdoors, a 30' x 60' covered wedding pavilion includes electricity and water. A separate 20' x 30' bath and shower house provides additional restroom facilities. The property maintains an active Dance License and all Fire Marshal certifications. The property is suited for weddings, anniversary parties, baby showers, dances, retreats, and celebrations of life. The acreage and shoreline also present potential for a campground, wellness or corporate retreat, or residential subdivision. The property is zoned Rural/Shoreland.
    Property Profile Location Intelligence

    Current Use by Public Records

    Wedding venues

    Suggested Use

    Home Appliance Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Somerville
    County
    Lincoln
    State
    Maine
    Longitude
    -69.49109
    Latitude
    44.302221

    FAQs

    What type of property is this?
    Wedding venue - 25+ acre waterfront property with event venue infrastructure.
    Where is this wedding venue located?
    The property is located at 826 Somerville Road Somerville, ME.
    What is the asking price?
    The asking price for this property is $679,000.
    What are key features of this property?
    This property features: 25+ acre waterfront property with 1,500+ feet of shoreline.; Established, income‑producing event venue with a renovated hall and covered wedding pavilion.; Features a commercial‑grade kitchen, updated plumbing/electrical, and ample parking.
    (207) 458-5815
    We can help!
    Listing Contact
    Michael Roddy
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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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