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    Multi-Use Property in Blue Hill Title is generated by Realmo AI

    176 Ellsworth Road, Blue Hill, ME 04614

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    For Sale
    $950,000

    COMMERCIAL - Blue Hill, ME

    Property size:
    10,000 SF
    Lot size:
    0.95 Acres
    Price / SF:
    $95/SF
    Added:
    Mar 26, 2026
    Days on Market:
    57
    Last Refresh:
    May 21 at 5:06 pm

    Property Features for 176 Ellsworth Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Mixed Use
    Parking features
    Other
    Interior features
    Storage
    Standard status
    Active
    Size
    10,000 SF
    Lot size
    0.95 Acres

    Utilities

    Sewer type
    Private Sewer
    Heating system
    Propane (Heating), Forced Air, Space Heater, Oil
    Water source
    Well, Private

    Building Details

    Year built
    1990
    Number of units
    7
    Flooring type
    Concrete, Wood, Tile
    Building materials
    Wood Frame, Shingle Siding, Vertical Siding, Wood Siding
    Roof type
    Shingle
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Jennifer Cammack

    Listing agent Jennifer Cammack

    Listing office EXP Realty 41 Hutchins Drive Building 3, Rangeley, ME

    Listing date Mar 26, 2026

    MLS# 1655343

    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.

    Overview

    This multi-use property in Blue Hill, Maine, offers a combination of residential and commercial opportunities. The property includes a six-unit apartment building constructed in 1990, featuring two two-bedroom units and four one-bedroom units, all currently occupied by tenants. Additionally, there is a large commercial building, built in 2011, which currently houses a long-term retail tenant. The commercial space has partitions that can be removed to accommodate various uses. It features a large garage door, two overhead cranes, and a 600-square-foot freezer. The building is equipped with a 3-phase 200 amp service and an additional 200 amp service. Ample parking is available in front of and behind the building. The property has previously served as a doggie day care, boat building facility, convenience store, office building, and residential space. A large cell tower is located directly behind the property on top of Blue Hill Mountain. Situated on a 0.95-acre lot along a heavily traveled road, the property is located approximately 12 minutes from Ellsworth, 40 minutes from Acadia National Park, and 1 mile from the head of Blue Hill Bay. The property is located in one of Maine's coastal towns.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Spa & Massage Center Nail Salon Gym & Fitness Center Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Blue Hill
    County
    Hancock
    State
    Maine
    Longitude
    -68.5778563
    Latitude
    44.4266966

    Nearby Similar for Sale

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    • $950,000
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      Multi-Use Property in Coastal Maine

      Residential and commercial multi-use property with investment potential.
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    • $1,250,000
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      Mixed-Use Investment Opportunity

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    • Contact for pricing
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      Mixed-Use Property in Blue Hill

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    FAQs

    What type of property is this?
    Mixed-use property - Multi-use property with apartment building and commercial space.
    Where is this mixed-use property located?
    The property is located at 176 Ellsworth Road Blue Hill, ME.
    What is the asking price?
    The asking price for this property is $950,000.
    (207) 852-4178
    We can help!
    Listing Contact
    Jennifer Cammack
    Learn More
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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
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