Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Armstrong Road Belfast, ME 04915

    View on Map
    Claim this Listing
    For Sale
    $1,800,000

    LAND - Belfast, ME

    Lot size:
    247.00 Acres
    Added:
    Apr 17, 2026
    Days on Market:
    14
    Last Refresh:
    Apr 30 at 12:06 pm

    Property Features for Armstrong Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    OR-1, SUA
    Standard status
    Active
    Lot size
    247.00 Acres

    Taxes and HOA fees

    Tax Year
    24
    Tax Annual Amount
    4503

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well Needed

    We can help!

    Listing Contact
    Carleton Johnson
    Carleton Johnson

    Listing agent Carleton Johnson

    Listing office RE/MAX JARET & COHN 25 Park Street, Camden, ME

    Listing date Apr 17, 2026

    MLS# 1630969 Listing URL

    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

    Belfast Land with Panoramic Views

    This unique property offers far-reaching views and absolute privacy on a hilltop preserve. The property consists of nearly 250 acres of land that encompasses a broad knoll, granting 360-degree views of Penobscot Bay and the surrounding countryside. It is located just a short drive to Belfast, the city and harbor. The zoning is OR-1, SUA.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Belfast
    County
    Waldo
    State
    Maine
    Longitude
    -69.068574
    Latitude
    44.382341

    Nearby Similar for Sale

    • $949,000
      11,448 SF

      Mixed-Use Building with Route One Visibility

      Mixed-use building with warehouse, office space, and expansion potential.
      11 Airport Road, Belfast, ME 04915
      View Details
    • $3,250,000
      64,380 SF

      Versatile Commercial Property in Belfast

      Multi-tenant commercial property with warehouse, industrial, and office space.
      248 Northport Avenue, Belfast, ME 04915
      View Details
    • $785,000
      2,708 SF

      Vintage Belfast Multi-Unit Residence

      Historic 4-unit property in prime location near Belfast harbor.
      102 Congress Street, Belfast, ME 04915
      View Details
    • $585,000
      2,708 SF

      Vintage Belfast Multi-Unit Residence

      Historic 4-unit property near Belfast harbor with income potential.
      102 Congress Street, Belfast, ME 04915
      View Details
    • $775,000
      2,248 SF

      High-Visibility Commercial Property on Route 1

      Prime commercial property with high visibility and flexible zoning.
      2 Swan Lake Avenue, Belfast, ME 04915
      View Details
    • $595,000
      4,213 SF

      Belfast Mixed-Use Commercial Building

      Commercial building with office space and apartments on U.S. Route 1.
      230 Searsport Avenue, Belfast, ME 04915
      View Details
    • $775,000

      Prime Commercial Land on Route 1

      High-visibility commercial property on a busy route with flexible zoning.
      2 Swan Lake Avenue, Belfast, ME 04915
      View Details
    • $749,000

      Downtown Belfast Commercial Lot For Sale

      Commercial lot in downtown Belfast with sweeping bay views.
      1 Miller Street, Belfast, ME 04915
      View Details
    • $1,150,000
      5,000 SF

      Historic Belfast Commercial Building

      Four-unit commercial building in downtown Belfast's vibrant community.
      93 Main Street, Belfast, ME 04915
      View Details
    • $479,000
      2,016 SF

      Well-Maintained Duplex in Belfast, Maine

      Two-unit duplex with income potential near Belfast City Park.
      208 Congress Street, Belfast, ME 04915
      View Details
    • $80,000

      Belfast Land with Fuel Tanks

      Land with fuel storage tanks and building near downtown Belfast.
      22 Depot Lane, Belfast, ME 04915
      View Details
    • $1,179,000
      6,000 SF

      Belfast Inn and Lodge

      Inn and lodge with water views on 3.49 acres.
      192 Northport Avenue, Belfast, ME 04915
      View Details

    FAQs

    What type of property is this?
    Land - 247 acres of land with 360-degree views near Belfast.
    Where is this land located?
    The property is located at Armstrong Road Belfast, ME.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: Nearly 250 acres of land offering absolute privacy.; Hilltop location with **360‑degree views** of Penobscot Bay and surrounding countryside.; Unique opportunity to own a hilltop preserve.
    (207) 592-1175
    We can help!
    Listing Contact
    Carleton Johnson
    Carleton Johnson
    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!