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    Rangeley Lake Waterfront Mixed-Use Property Title is generated by Realmo AI

    38 Carry Road, Rangeley, ME 04970

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    Claim this Listing
    For Sale
    $3,400,000

    COMMERCIAL - Rangeley, ME

    Property size:
    3,956 SF
    Lot size:
    0.24 Acres
    Price / SF:
    $859/SF
    Added:
    May 24, 2026
    Days on Market:
    9
    Last Refresh:
    Jun 1 at 12:06 pm

    Property Features for 38 Carry Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    COM
    Rooms
    Basement
    Interior features
    Storage
    Basement
    Finished, Full, Walk-Out Access
    Standard status
    Active
    Size
    3,956 SF
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    5764

    Utilities

    Sewer type
    Private Sewer
    Heating system
    Propane (Heating), Oil, Forced Air
    Cooling system
    Heat Pump
    Water source
    Public, Private
    Water front features
    Lake
    Water front
    1

    Building Details

    Year built
    2002
    Flooring type
    Laminate
    Building materials
    Wood Frame, Wood Siding
    Roof type
    Shingle
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Elizabeth Walker-Feeney

    Listing agent Elizabeth Walker-Feeney

    Listing office Keller Williams Realty 50 Sewall Street, Portland, ME

    Listing date May 24, 2026

    MLS# 1663707

    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

    • Rangeley Lake waterfront property with mixed‑use potential.
    • Fully renovated 3‑bedroom, 2‑bath living space with over 3,400 sq. ft. featuring modern finishes and water views.
    • Expansive 3,400 sq. ft. retail area suitable for various businesses.
    • Updated aluminum 6‑slip dock system with permitted space for 3 additional slips, providing direct water access.
    • One of the only game inspection stations in Western Maine.
    • New HVAC system, 14kW on‑demand generator, and attached garage.

    Overview

    This mixed-use property in Rangeley, ME, features both commercial and residential spaces. The renovated residential area offers 3,400 square feet of living space, including three bedrooms and two bathrooms. The open-concept kitchen features caesar stone countertops and a 36" chef's range, flowing into a large living room with water views. Bedrooms offer substantial storage, including a walk-in closet and two step-in closets. Bathrooms have been updated with modern finishes. New flooring, fresh paint, and tasteful upgrades enhance the living space. A gym/media room provides flexible use, and a new HVAC system supports heating and cooling. The property includes an expansive 3,400 square foot retail area, suitable for outfitting, sporting goods, marine services, guide services, or other business ventures, with potential for conversion into additional living space. An updated aluminum 6 slip dock system, with permitted space for 3 additional slips, offers direct water access. The property is one of the few game inspection stations in Western Maine. A 14kW on-demand generator ensures year-round functionality. An attached garage offers space for vehicle, boat, or equipment storage. A large, level parking lot accommodates customers and guests. The lot size is 0.24 acres.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Map

    City
    Rangeley
    County
    Franklin
    State
    Maine
    Longitude
    -70.6504
    Latitude
    44.9631

    Nearby Similar for Sale

    • $529,000
      1,664 SF

      Rangeley Commercial Building on Main

      Commercial building suitable for retail, office, or short-term rental.
      2388 Main Street, Rangeley, ME 04970
      View Details
    • $1,900,000
      3,680 SF

      Established Tap House in Rangeley

      Thriving tap house with excellent reputation in Rangeley, Maine.
      74 Carry Road, Rangeley, ME 04970
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Exceptional mixed-use property with commercial space and renovated residential living.
    Where is this mixed-use property located?
    The property is located at 38 Carry Road Rangeley, ME.
    What is the asking price?
    The asking price for this property is $3,400,000.
    What are key features of this property?
    This property features: Rangeley Lake waterfront property with mixed‑use potential.; **Fully renovated 3‑bedroom, 2‑bath living space with over 3,400 sq. ft. featuring modern finishes and water views.**; Expansive 3,400 sq. ft. retail area suitable for various businesses.
    (207) 751-2028
    We can help!
    Listing Contact
    Elizabeth Walker-Feeney
    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.

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