Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Commercial Land For Lease Augusta Title is generated by Realmo AI

    Riverside Drive, Augusta, ME 04330

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Commercial For Lease - Augusta, ME

    Lot size:
    72.00 Acres
    Added:
    Jun 24, 2024
    Days on Market:
    707
    Last Refresh:
    May 31 at 5:06 pm

    Property Features for Riverside Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    PD2 & RBV
    Standard status
    Active
    Lot size
    72.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Karissa Moore

    Listing agent Karissa Moore

    Listing office K&G Realty Services, Inc. 85 Barre Road, East Templeton, ME

    Listing date Jun 24, 2024

    MLS# 5002094 Listing URL

    Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 72± acres available for lease.
    • Zoned PD2, potentially allowing for diverse uses such as business offices and marijuana facilities (lessee to confirm).
    • RBV Zone allows for uses such as hotels, social services and garden center (lessee to confirm).
    • Nearly a half mile of picturesque river frontage.
    • Train trestle (bridge) for river crossing.
    • Located in Augusta.

    Overview

    Approximately 72 acres of a larger 169-acre property are available for lease. A portion of the property is zoned PD2, which, according to the City of Augusta Land Use Codes, appears to allow for a range of uses, including business professional offices, marijuana facilities, and bed & breakfast establishments; lessees should confirm permitted uses. The RBV zone also appears to allow for many of the same uses as PD2, and adds hotels, social services and garden centers; lessees should confirm permitted uses. The property includes a train trestle (bridge) for crossing the Riggs Branch River. Nearly a half mile of picturesque river frontage is included. The area is subject to third-party approval.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Augusta
    County
    Kennebec
    State
    Maine
    Longitude
    -69.762732
    Latitude
    44.328623

    Nearby Similar for Lease

    • $12 SF/Yr
      3,900 SF

      Retail/Flex/Office Space in Augusta

      3,900± SF retail/flex/office space near State House.
      171 Capitol St, Augusta, ME
      View Details
    • $2,700/Mo
      22,286 SF

      Two-Building Office Investment Opportunity

      Two-building office investment with strong tenants and upside potential.
      323-331 State St, Augusta, ME
      View Details
    • $14 SF/Yr
      3,926 SF

      Professional Office Suites For Rent

      Professional office suites available with on-site amenities and parking.
      45 Commerce Drive, Augusta, ME
      View Details
    • $1,500/Mo
      6,000 SF

      Augusta Business Park Office Space

      6,000± SF office space for lease in Augusta Business Park.
      36 Anthony Ave, Augusta, ME
      View Details
    • $16 SF/Yr
      2,464 SF

      Prime Office Space in Augusta

      2464 SF office space for rent in Augusta.
      Capitol street 219, Augusta, ME
      View Details
    • $15 SF/Yr
      3,517 SF

      Augusta Office Suites For Rent

      Office suites available in downtown Augusta, Maine.
      1 Weston Court, Augusta, ME
      View Details
    • $30 SF/Yr
      950 SF

      Retail Space Available For Rent

      950 square feet retail space available for rent.
      173 State St, Augusta, ME 04330
      View Details
    • $12 SF/Yr
      3,500 SF

      Single-Floor Office Building For Lease

      Single-floor office building for lease in Augusta, Maine.
      28 Meadow Rd, Augusta, ME
      View Details
    • $10 SF/Yr
      3,400 SF

      Available Office Space in Augusta

      3,400± SF office space for lease near State House.
      11 Parkwood Dr, Augusta, ME
      View Details
    • Contact for pricing
      11,700 SF

      Commercial Lease in Central Augusta

      Commercial spaces available for lease in central Augusta location.
      6 E Chestnut St, Augusta, ME
      View Details
    • $12 SF/Yr
      7,525 SF

      Office/Retail Space Near I-95

      Office or retail space with highway visibility and ample parking.
      264 Civic Center Drive, Augusta, ME
      View Details
    • $5 SF/Yr
      10,192 SF

      Freestanding Warehouse Facility For Rent

      10,192 SF warehouse with ample parking and outdoor storage.
      50 Maple St, Augusta, ME
      View Details

    FAQs

    What type of property is this?
    Commercial land - 72-acre commercial land available for lease in Augusta, Maine.
    Where is this commercial land located?
    The property is located at Riverside Drive Augusta, ME.
    What are key features of this property?
    This property features: 72± acres available for lease.; Zoned PD2, potentially allowing for diverse uses such as business offices and marijuana facilities (lessee to confirm).; RBV Zone allows for uses such as hotels, social services and garden center (lessee to confirm).
    (978) 407-3054
    We can help!
    Listing Contact
    Karissa Moore
    Real Estate License ID: 9516125
    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

    Thank You for Inquiry
    Riverside Drive, Augusta, ME 04330
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!