Sign Up Successful!
You now have access to more from Realmo!
    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

    562 Ledge Hill Rd Corinth, ME 04427

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $159,000

    Versatile 1,656 sq ft building on half-acre.

    Property size:
    1,656 SF

    Property Features for 562 Ledge Hill Rd

    General Information

    Property type
    Mixed-use properties
    Square Feet
    1,656 SF
    Lot Size
    21,780 SF

    Building Details

    Year Built
    1890

    We can help!

    Listing Contact
    Carolyn Hammond

    Listing Agent: Carolyn Hammond

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This 1,656 square foot mixed-use building, located at 562 Ledge Hill Road in Corinth, Maine, presents a unique opportunity for a variety of commercial or residential ventures. Situated on a half-acre lot, the property offers ample space and flexibility. The building features an open floor plan, allowing for easy customization to suit diverse needs. Its solid construction ensures durability and longevity. The absence of zoning regulations in Corinth provides considerable freedom in terms of permitted uses. While the property's open layout makes it ideal for conversion into a comfortable residence, its size and adaptability also make it suitable for a range of commercial applications, from small businesses to workshops or studios. The property's location in Corinth, Maine, offers a blend of rural tranquility and accessibility. This versatile property is priced affordably at $159,000, representing a compelling investment opportunity for those seeking a flexible space with significant potential. The property is also listed separately as residential under MLS ID 1605815. Serious inquiries are encouraged to explore the possibilities this unique property offers.
    Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Corinth
    County
    Penobscot
    State
    Maine
    Longitude
    -69.02386
    Latitude
    44.95436

    Nearby Similar for Sale

    • $349,000
      0.52 Acres

      Corinth Four-Unit Apartment Building

      Well-maintained four-unit apartment building with strong income potential.
      336 Main St, Corinth, ME 04427
      View Details
    • $775,000
      1 SF

      Maine Mobile Home Park Opportunity

      39-site mobile home park on 39 acres in Corinth, Maine.
      434 Tate Rd, Corinth, ME 04427
      View Details
    • $269,000
      0.62 Acres

      Corinth Four-Unit Apartment Building

      Four-unit apartment building in Corinth with strong income potential.
      348 Main St, Corinth, ME 04427
      View Details
    • $129,900
      1,656 SF

      Versatile Building in Corinth, ME

      Solid building suitable for various uses in Corinth, Maine.
      562 Ledge Hill Rd, Corinth, ME 04427
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Versatile 1,656 sq ft building on half-acre.
    Where is this mixed-use property located?
    The property is located at 562 Ledge Hill Rd Corinth, ME.
    What is the asking price?
    The asking price for this property is $159,000.
    (207) 942-6711
    Request Owner's contact information
    562 Ledge Hill Rd Corinth, ME 04427
    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.
    562 Ledge Hill Rd
    Corinth, ME 04427
    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
    562 Ledge Hill Rd Corinth, ME 04427
    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

    We can help!
    Listing Contact
    Carolyn Hammond
    (207) 942-6711 (207) 944-5450
    Learn more
    Google sign-in failed. Please try again or use another login method.