Add Listing
    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

    242 Park Street Rockland, ME 4841

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $300,000

    Well-maintained retail space with high Route 1 exposure.

    Type:Commercial/Industrial
    Lot size:
    0.14 Acres
    Added:
    Mar 12, 2026
    Days on Market:
    23
    Last Refresh:
    Apr 1 at 10:15 pm

    Property Features for 242 Park Street

    General Information

    Standard status
    Active
    Lot size
    0.14 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Ann Daggett

    Listing agent Ann Daggett

    Listing office Lone Pine Real Estate Company

    Listing date Mar 12, 2026

    Source Exitrealty

    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 Lone Pine Real Estate Company

    Overview

    Route 1 Retail Opportunity

    This well-maintained commercial property offers significant exposure on Route 1. Currently configured as a salon, the property presents an opportunity for various retail or commercial uses. The real estate is for sale, offering a buyer the chance to establish their business in a visible location.
    Location Intelligence

    Current Use by Public Records

    Reflections Hair Salon Hair Salon

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Rockland
    County
    Knox
    State
    Maine
    Longitude
    -69.1267
    Latitude
    44.1014

    Nearby Similar for Sale

    • $799,000
      3,937 SF

      Rockland Medical Office Investment Opportunity

      Prime commercial property with established tenants and on-site parking.
      20 Summer Street, Rockland, ME 04841
      View Details
    • $1,225,000
      8,241 SF

      Rockland Commercial Space on Route One

      Versatile 8,900+ sq ft space on 2.82 acres.
      5 Payne Avenue, Rockland, ME 04841
      View Details
    • $2,500,000
      22,243 SF

      Waterfront Mixed-Use Industrial Opportunity

      Mixed-use industrial property with waterfront access in Rockland, Maine.
      771 Main Street, Rockland, ME 04841
      View Details
    • $459,000
      2,556 SF

      Rockland Mixed-Use Commercial Building

      Two-story mixed-use building in downtown Rockland, Maine.
      367 Main Street, Rockland, ME 04841
      View Details
    • $5,300,000

      Rockland Harbor Redevelopment Opportunity

      2.75 acres on Rockland Harbor with redevelopment potential.
      779 Main Street, Rockland, ME 04841
      View Details
    • $5,300,000
      22,400 SF

      Rockland Harbor Redevelopment Opportunity

      2.75 acres on Rockland Harbor with redevelopment potential.
      779 Main Street, Rockland, ME 04841
      View Details
    • $509,900
      2,800 SF

      Rockland Duplex with Rental History

      Well-maintained Rockland duplex near downtown shops and restaurants.
      30 - 32 Granite Street, Rockland, ME 04841
      View Details
    • $332,500
      1,590 SF

      Commercial Property in Rockland, Maine

      Well-maintained commercial property with Route 1 exposure, suitable for various uses.
      242 Park Street, Rockland, ME 04841
      View Details
    • $1,375,000
      8,241 SF

      Rockland Brewing Facility and Restaurant

      Versatile space with brewing setup, dining, and outdoor patio.
      5 Payne Avenue, Rockland, ME 04841
      View Details
    • $215,000

      Downtown Rockland Take Out Stand

      Downtown Rockland parcel with high foot traffic and development potential.
      346 Main Street, Rockland, ME 04841
      View Details
    • $1,895,000
      8,083 SF

      Downtown Rockland Multi-Use Commercial Building

      Multi-use commercial building in downtown Rockland with retail and residential spaces.
      410 Main Street, Rockland, ME 04841
      View Details
    • $1,895,000
      8,083 SF

      Downtown Rockland Multi-Use Building

      Multi-use building in downtown Rockland with retail and residential units.
      410 Main Street, Rockland, ME 04841
      View Details

    FAQs

    What type of property is this?
    Retail space - Well-maintained retail space with high Route 1 exposure.
    Where is this retail space located?
    The property is located at 242 Park Street Rockland, ME.
    What is the asking price?
    The asking price for this property is $300,000.
    What are key features of this property?
    This property features: Prime location with Route 1 exposure.; Well‑maintained property.; Versatile space suitable for various uses (currently a salon).
    (207) 230-8300
    We can help!
    Listing Contact
    Ann Daggett
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!