Add Listing
    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

    903 Western Avenue Manchester, ME 04351

    View on Map
    Claim this Listing
    New
    For Sale
    $335,000

    COMMERCIAL - Manchester, ME

    Property size:
    3,050 SF
    Lot size:
    0.23 Acres
    Added:
    Apr 16, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 17 at 11:06 pm

    Property Features for 903 Western Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Manchester Village
    Rooms
    Basement
    Parking features
    Off Street
    Basement
    Unfinished, Dirt Floor
    Standard status
    Active
    Size
    3,050 SF
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    2807

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard, Heat Pump (Heating), Zoned
    Cooling system
    Heat Pump
    Water source
    Public

    Building Details

    Year built
    1860
    Flooring type
    Wood, Vinyl
    Building materials
    Wood Siding, Vinyl Siding, Wood Frame
    Roof type
    Shingle

    We can help!

    Listing Contact
    Kimberly Bard

    Listing agent Kimberly Bard

    Listing office Coldwell Banker Plourde Real Estate 143 Silver Street, Waterville, ME

    Listing date Apr 16, 2026

    MLS# 1654882

    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

    Versatile Commercial Property in Manchester, ME

    This spacious property in Manchester, Maine, offers versatility for either a home business or commercial use. The property, formerly an art studio and engineering workspace, features a flexible layout suitable for an office, yoga studio, healing arts, or other creative space. The first floor includes a bright kitchen, dining area, and living space with natural light. An additional room and bath offer the option for one-floor living. The upstairs area contains a family room and a large bonus room, suitable for offices, studio space, or additional living options. The property has two separate entrances for added convenience. Located on a main road with high visibility, the property offers an inviting atmosphere for both living and working. The lot size is 0.23 acres and the property size is 3050 square feet. The property is located in Manchester Village.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wizbe Innovations, LLC Industrial Manufacturer ComposiMold Reusable Mold ... (Bike/Boat/Book/etc) Store EcoLureMaker (Bike/Boat/Book/etc) Store Hélène Farrar Art ... Art Studio

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    Kennebec
    State
    Maine
    Longitude
    -69.8592289
    Latitude
    44.3252714

    Nearby Similar for Sale

    • $859,999
      10,150 SF

      Renovated Manchester Commercial Investment Opportunity

      Recently renovated mixed-use property with high traffic and income potential.
      675 Western Avenue, Manchester, ME 04351
      View Details
    • $1,456,000
      9,026 SF

      Dollar General NNN Investment Opportunity

      Single-tenant Dollar General with corporate-backed NNN lease in Manchester, ME.
      1022 Western Ave, Manchester, ME
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Spacious property suitable for home business or commercial use.
    Where is this mixed-use property located?
    The property is located at 903 Western Avenue Manchester, ME.
    What is the asking price?
    The asking price for this property is $335,000.
    What are key features of this property?
    This property features: Prime location on a main road with great visibility, ideal for a home business or commercial use.; Flexible layout suitable for various uses, including office, studio, or living space.; Two separate entrances offer added convenience and potential for separate living/working areas.
    (207) 441-8058
    We can help!
    Listing Contact
    Kimberly Bard
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!