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    The Largest CRE Database in the US with Over 1 Million Listings

    394 Old County Rd Rockland, ME 04841

    Sponsored
    For Sale
    $650,000

    Multi-use property, prime location, high potential.

    Property size:
    5,846 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    364
    This exceptional multi-use property at 394 Old County Road in Rockland, Maine, presents a unique investment opportunity. Situated on a 3.5-acre lot, this meticulously maintained Cape-style building boasts 5,846 square feet of versatile space. The property is ideally located just 5 minutes from downtown Rockland, 10 minutes from Rockport, and 15 minutes from Camden, offering easy access to the region's thriving arts community, shopping, and picturesque harbor. The commercial space features a well-designed salon area, complete with several private treatment rooms perfect for tanning, nail services, and spa treatments. A sizable additional salon space is located in the walk-out basement, providing ample room for expansion or the creation of a separate rental unit. The residential component includes two spacious two-bedroom apartments within the main building. Each apartment offers a comfortable living area, updated bathrooms, and a well-equipped kitchen. Ample parking is available with a paved driveway, parking area, and an additional gravel lot. The expansive lot offers significant privacy and potential for future development or the addition of outdoor amenities. This property is an ideal investment for a business owner seeking a combined residential and commercial venture, or for an investor looking for a high-return opportunity in a desirable coastal location. Please note that a single-wide trailer and 0.5 acres of the original property are not included in this sale.

    Property Features for 394 Old County Rd

    General Information

    Property type
    Other commercial real estate
    Square Feet
    5,846 SF
    Lot Size
    152,460 SF

    Building Details

    Year Built
    2011

    We can help!

    Listing Contact
    Rachael Umstead

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Salty Waves Salon Beauty Salon Visual Changes (Now ... Beauty Salon

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Rockland
    County
    Knox
    State
    Maine
    Longitude
    -69.12715
    Latitude
    44.11931

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    FAQs

    What type of property is this?
    Commercial real estate - Multi-use property, prime location, high potential.
    Where is this commercial real estate located?
    The property is located at 394 Old County Rd Rockland, ME.
    What is the asking price?
    The asking price for this property is $650,000.
    (207) 230-8300
    Request Owner's contact information
    394 Old County Rd Rockland, ME 04841
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    Rockland, ME 04841
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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
    394 Old County Rd Rockland, ME 04841
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    We can help!
    Listing Contact
    Rachael Umstead
    (207) 230-8300
    Learn more
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