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    Spacious Residential Facility in Bingham Title is generated by Realmo AI

    43 Owens Street, Bingham, ME 04920

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    For Sale
    $209,000

    COMMERCIAL - Bingham, ME

    Property size:
    10,404 SF
    Lot size:
    1.31 Acres
    Price / SF:
    $20/SF
    Added:
    May 15, 2026
    Days on Market:
    3
    Last Refresh:
    May 17 at 12:06 am

    Property Features for 43 Owens Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    10,404 SF
    Lot size
    1.31 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    7308

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Propane (Heating), Heat Pump (Heating), Zoned
    Cooling system
    Heat Pump
    Water source
    Public

    Building Details

    Year built
    1974
    Flooring type
    Carpet, Tile, Vinyl
    Building materials
    Brick, Vinyl Siding

    We can help!

    Listing Contact
    Mark Leathers

    Listing agent Mark Leathers

    Listing office Realty of Maine 458 Main Street, Bangor, ME

    Listing date May 15, 2026

    MLS# 1662164

    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

    • 10,000± square foot residential facility with flexible layout.
    • 18 bedrooms offer significant capacity.
    • Located in the heart of Maine's outdoor recreation region.
    • Ideal for hospitality, housing, wellness, or institutional use.
    • Features large common areas, multiple bathrooms, office and storage space, and commercial‑sized kitchen potential.
    • Zoned heating and cooling with heat pump, public water and sewer.

    Overview

    Located in the heart of Maine's outdoor recreation region, this 10,000± square foot residential facility offers 18 bedrooms and potential for various commercial, residential, hospitality, or community-based uses. Currently configured as a medium-sized residential facility, the property features generous common areas, multiple bathrooms, office and storage space, a commercial-sized kitchen, and flexible floor plans. The layout is adaptable to new business ventures or redevelopment opportunities. It is suitable for use as a lodging property, assisted living facility, recovery or wellness center, employee housing, retreat destination, group home, educational campus, or multi-unit conversion. Positioned near recreational attractions including rafting, snowmobiling, ATV trails, hunting, fishing, and hiking, the location provides year-round appeal for visitors and residents. The property's location and substantial square footage create an opportunity for investors, entrepreneurs, nonprofits, or organizations seeking a facility with room to grow. This property on a 1.31-acre lot offers the space, flexibility, and location to bring your vision to life.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Assisted living facilities

    Suggested Use

    Restaurant Law Firm Building Supply Auto Repair Shop Big Box & Wholesale Store Dental Office Hotel & Motel Auto Parts Store Storage Facility HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Bingham
    County
    Somerset
    State
    Maine
    Longitude
    -69.8783892
    Latitude
    45.0543521

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    FAQs

    What type of property is this?
    Healthcare property - 10,000 SF facility with 18 bedrooms in Bingham, ME.
    Where is this healthcare property located?
    The property is located at 43 Owens Street Bingham, ME.
    What is the asking price?
    The asking price for this property is $209,000.
    What are key features of this property?
    This property features: 10,000± square foot residential facility with flexible layout.; 18 bedrooms offer significant capacity.; Located in the heart of Maine's outdoor recreation region.
    (207) 356-4388
    We can help!
    Listing Contact
    Mark Leathers
    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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