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    Cape Cod Multifamily with Duplex Title is generated by Realmo AI

    171 N Main Street, Rockland, ME 04841

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    For Sale
    $1,349,000

    MULTI_FAMILY - Cape Cod - Rockland, ME

    Property size:
    5,626 SF
    Lot size:
    1.27 Acres
    Price / SF:
    $239/SF
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 9:06 pm

    Property Features for 171 N Main Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    TB-1
    Bathrooms
    5
    Rooms
    Bathroom 4, Bathroom 2, Bathroom 3, Bathroom 5, Basement, Bathroom 1
    Parking features
    Heated
    Patio and Porch features
    Deck
    Basement
    Full, Sump Pump, Unfinished
    Standard status
    Active
    Size
    5,626 SF
    Lot size
    1.27 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    12610

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Oil, Electric (Heating), Heat Pump (Heating), Radiant, Zoned, Baseboard
    Water source
    Public

    Building Details

    Year built
    1940
    Number of units
    5
    Flooring type
    Vinyl, Tile, Wood
    Building materials
    Wood Frame, Clapboard, Composition, Shingle Siding, Wood Siding
    Roof type
    Shingle
    Architectural style
    Cape Cod

    We can help!

    Listing Contact
    Aaron Crossman

    Listing agent Aaron Crossman

    Listing office Legacy Properties Sotheby's International Realty 46 Bayview Street, Portland, ME

    Listing date Jun 3, 2026

    MLS# 1665249 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.

    HighLights

    • Two‑property setup at 171 N Main St and 167 N Main St near downtown Rockland, offering flexible living and rental options.
    • Main house at 171 N Main St has over 2,000 sq ft of living space with hardwood floors (Cape Cod; built in 1940).
    • Above‑garage efficiencies at 171 N Main St: two one‑bedroom efficiency apartments over a 3–4 car garage (door access noted for unit connection).
    • 167 N Main St is a newly renovated/built duplex: front unit (2BR/1.5BA) over two levels and back unit (2BR/1BA) on one level, both with in‑unit laundry.
    • Located in TB‑1 zone, which allows for high‑density housing; includes an oversized lot with development potential noted in remarks.
    • Utilities and systems: public water and public sewer; shingle roof; heating includes heat pump, oil, baseboard, radiant, zoned, and electric.

    Overview

    This for-sale multifamily property features a Cape Cod-style main house plus a newly renovated duplex, offering flexible configurations. The main house at 171 N Main St includes over 2,000 square feet of living space and hardwood floors. It also has a 3-4 car garage, with two one-bedroom efficiency apartments located above the garage. The second address, 167 N Main St, is a newly renovated or built duplex with quality finishes. The front unit spans two levels and offers 2 bedrooms and 1.5 bathrooms, while the back unit is a single-level 2-bedroom, 1-bath layout. Both units include in-unit laundry.

    The property is located in Rockland, Maine, and is described as being a short distance from downtown Rockland. It sits on an oversized lot within the TB-1 zone. TB-1 is described as allowing high density housing, and the remarks indicate potential for substantial development on the site.

    For tenants, the mix of unit types and the presence of in-unit laundry support everyday livability across the different layouts. For buyers and operators, the setup provides multiple rental streams within two structures, along with an opportunity to evaluate redevelopment possibilities under the existing TB-1 zoning. Please do not pull into the property without an appointment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Rockland
    County
    Knox
    State
    Maine
    Longitude
    -69.111572
    Latitude
    44.118183

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    FAQs

    What type of property is this?
    Apartment building - Two buildings on an oversized lot with multiple rental units, in-unit laundry, and TB-1 zoning.
    Where is this apartment building located?
    The property is located at 171 N Main Street Rockland, ME.
    What is the asking price?
    The asking price for this property is $1,349,000.
    What are key features of this property?
    This property features: Two‑property setup at 171 N Main St and 167 N Main St near downtown Rockland, offering flexible living and rental options.; Main house at 171 N Main St has over 2,000 sq ft of living space with hardwood floors (Cape Cod; built in 1940).; Above‑garage efficiencies at 171 N Main St: two one‑bedroom efficiency apartments over a 3–4 car garage (door access noted for unit connection).
    (207) 322-6638
    We can help!
    Listing Contact
    Aaron Crossman
    Request Owner's contact information
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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.

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