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    Multi-Tenant Office Building Title is generated by Realmo AI

    18 Belvedere Road, Damariscotta, ME 04543

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    For Sale
    $775,000

    COMMERCIAL - Damariscotta, ME

    Property size:
    3,181 SF
    Lot size:
    1.38 Acres
    Price / SF:
    $243/SF
    Added:
    Jun 5, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 5 at 2:06 pm

    Property Features for 18 Belvedere Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C-2
    Rooms
    Basement
    Basement
    Full, Walk-Out Access, Daylight
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    Size
    3,181 SF
    Lot size
    1.38 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    7848

    Utilities

    Sewer type
    Private Sewer
    Heating system
    Baseboard, Hot Water(Heating), Zoned, Oil
    Water source
    Private

    Building Details

    Year built
    2003
    Flooring type
    Vinyl, Carpet
    Building materials
    Wood Frame, Vinyl Siding
    Roof type
    Composition, Shingle

    We can help!

    Listing Contact
    Dennis Hilton

    Listing agent Dennis Hilton

    Listing office Newcastle Realty 87 Main Street, Damariscotta, ME

    Listing date Jun 5, 2026

    MLS# 1665692

    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

    • Well‑maintained multi‑tenant professional office building built in 2003 with three levels of finished office space
    • Configured as 11 individual office units with common areas and ample on‑site parking
    • 1.36± acre parcel in the C‑2 commercial district with the building positioned toward one side, allowing for future expansion or parking reconfiguration
    • Heating includes zoned hot water (oil) with baseboard heat
    • Private water source and private sewer
    • Accessible approach with ramp; Cape‑style wood‑frame building with vinyl siding and composition shingle roof

    Overview

    Well-maintained, multi-tenant Cape-style office building with three levels of finished office space, including a fully utilized lower level. The property includes multiple private suites and common areas, with the building currently configured as 11 individual office units. Ample on-site parking supports day-to-day access for tenants and visitors.

    The building is located in Damariscotta in the C-2 commercial district, just off Route 1. Access is described as facilitated by a recently constructed, landscaped roundabout. Set on a 1.38± acre parcel, the structure is positioned toward one side of the lot, which the current layout notes as providing room for future expansion, additional structures, or parking reconfiguration.

    This configuration can serve a range of users seeking professional or service-oriented space, including continued or expanded use as professional offices or counseling/medical services. The property’s existing suite layout may also support buyers interested in owner-user occupancy while maintaining multiple separate office units under one roof. The combination of multi-suite space, common areas, and on-site parking is designed to accommodate both professional and nonprofit tenants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Carol Sherman Hayes Foster Care Service Break of Day Mental ... Crisis Center Mayfly Designworks Architectural Designer New Hope Midcoast Crisis Center

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Damariscotta
    County
    Lincoln
    State
    Maine
    Longitude
    -69.5050053
    Latitude
    44.0475672

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    FAQs

    What type of property is this?
    Office building - Three-level office building near Route 1 with private suites and ample on-site parking.
    Where is this office building located?
    The property is located at 18 Belvedere Road Damariscotta, ME.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: Well‑maintained multi‑tenant professional office building built in 2003 with three levels of finished office space; Configured as 11 individual office units with common areas and ample on‑site parking; 1.36± acre parcel in the C‑2 commercial district with the building positioned toward one side, allowing for future expansion or parking reconfiguration
    (207) 380-3435
    We can help!
    Listing Contact
    Dennis Hilton
    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.

    More about this property
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    18 Belvedere Road, Damariscotta, ME 04543
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