Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Pre-Approved Land in Auburn, ME Title is generated by Realmo AI

    128 Cascades Dr, Auburn, ME

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    5.49 acre lot pre-approved for 40,000 SF building.

    Type:LAND
    Lot size:
    5.49 Acres
    Added:
    Sep 20, 2024
    Days on Market:
    622
    Last Refresh:
    May 20 at 8:55 pm

    Property Features for 128 Cascades Dr

    General Information

    Standard status
    Active
    Lot size
    5.49 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Josh Soley, SIOR, CCIM

    Listing agent Josh Soley, SIOR, CCIM

    Listing office CORE

    Listing date Sep 20, 2024

    Source Moodyscre

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

    All listing content including descriptions, pricing, images are the copyrighted material of CORE

    HighLights

    • Pre‑approved 5.49 acre lot ready for a 40,000 SF building by right.
    • Located in Cascades Park Enterprise Center with all utilities at the curb cut.
    • Benefits from Pine Tree Development Zone and Foreign Trade Zone #263.
    • 40% less than land cost in greater Portland.
    • 5 minutes to Maine Turnpike I‑95.
    • Possible additional 10,000 SQFT of building with new EPA ruling.

    Overview

    This 5.49-acre lot is pre-developed and pre-approved for the construction of a 40,000 square foot building. The property is located in the Cascades Park Enterprise Center off Lewiston Junction Road in Auburn. This master-planned business park has all utilities at the curb cut for each developable lot, including electricity, water, stormwater, and sewer. Parcels in Cascades Park Enterprise Center benefit from being in the Pine Tree Development Zone as well as the Foreign Trade Zone #263. The property is located 5 minutes from the Maine Turnpike I-95. The property has enough usable land to construct a 40,000 SF building permit by right. Additional 10,000 SQFT of building may be possible with new EPA ruling.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    Androscoggin
    State
    Maine
    Longitude
    -70.2312
    Latitude
    44.0979

    Nearby Similar for Sale

    • $525,000
      8,000 SF

      Auburn Warehouse/Distribution Building For Sale

      8,000 SF warehouse/distribution building with ample space and power.
      213 Washington Street S, Auburn, ME 04210
      View Details
    • $750,000
      7,466 SF

      Multi-Structure Investment Opportunity in Auburn

      Multi-family property with new single-family home and two-unit building.
      27-31 Drummond Street, Auburn, ME 04210
      View Details
    • $895,000
      3,709 SF

      Commercial Land with Mixed-Use Structures

      Corner lot with long-term tenants near Auburn Mall.
      553 Center Street, Auburn, ME 04210
      View Details
    • $1,100,000
      5,596 SF

      Multi-Family Investment Opportunity, Auburn

      Nine-unit multi-family property in a walkable Auburn location.
      15-17 Pleasant Street, Auburn, ME 04210
      View Details
    • $594,900
      4,592 SF

      Five-Unit Multifamily Investment

      Five-unit multifamily in Auburn, ME, positioned as an income-producing property with an indicated approximately 9.5% cap rate.
      2 Oak Street, Auburn, ME 04210
      View Details
    • $465,000
      3,004 SF

      Victorian Duplex in Auburn, Maine

      Victorian duplex with two units in Auburn, Maine.
      137 S Main Street, Auburn, ME 04210
      View Details
    • $415,000
      2,178 SF

      Two-Unit Residential Income Duplex

      Well-maintained two-unit home with three-bedroom layouts, in-unit laundry, off-street parking, and recent major upgrades.
      86B Fourth Street, Auburn, ME 04210
      View Details
    • $384,500
      2,464 SF

      Cape Cod Triplex with Workshop

      Three-unit property with expansion potential on a spacious lot.
      25 Eighth Street, Auburn, ME 04210
      View Details
    • $445,000
      3,460 SF

      Three-Unit Apartment Building in Auburn

      Refreshed three-unit apartment building with updated kitchens and convenient location.
      91 Minot Avenue, Auburn, ME 04210
      View Details
    • $440,000
      2,586 SF

      Renovated Duplex Near Downtown Auburn

      Turnkey first floor unit with value-add potential in Auburn.
      29 Whitney Street, Auburn, ME 04210
      View Details
    • $389,900
      2,178 SF

      Two-Unit Multifamily Residence

      Two spacious units with in-unit laundry, off-street parking, and recent upgrades, offering strong options for investors or owner-occupants.
      86 Fourth Street, Auburn, ME 04210
      View Details
    • $700,000
      3,906 SF

      Auburn Mixed-Use Opportunity

      Versatile Auburn property with residential and commercial potential.
      823 Washington Street N, Auburn, ME 04210
      View Details

    FAQs

    What type of property is this?
    Land - 5.49 acre lot pre-approved for 40,000 SF building.
    Where is this land located?
    The property is located at 128 Cascades Dr Auburn, ME.
    What is the asking price?
    The asking price for this property is $1,043,000.
    What are key features of this property?
    This property features: Pre‑approved 5.49 acre lot ready for a 40,000 SF building by right.; Located in Cascades Park Enterprise Center with all utilities at the curb cut.; Benefits from Pine Tree Development Zone and Foreign Trade Zone #263.
    (207) 744-3084 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Josh Soley, SIOR, CCIM
    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

    Thank You for Inquiry
    128 Cascades Dr, Auburn, ME
    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!