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    Bowdoinham Mixed-Use Commercial Property Title is generated by Realmo AI

    467 Bay Road, Bowdoinham, ME 04008

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    For Sale
    $799,000

    COMMERCIAL - Bowdoinham, ME

    Property size:
    2,164 SF
    Lot size:
    2.10 Acres
    Price / SF:
    $369/SF
    Added:
    Apr 14, 2026
    Days on Market:
    32
    Last Refresh:
    May 15 at 1:06 am

    Property Features for 467 Bay Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    R/A
    Rooms
    Basement
    Interior features
    Storage
    Basement
    Unfinished, Full, Daylight, Walk-Out Access
    Standard status
    Active
    Size
    2,164 SF
    Lot size
    2.10 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    7993

    Utilities

    Sewer type
    Private Sewer, Septic Tank
    Heating system
    Oil, Heat Pump (Heating), Forced Air, Electric (Heating)
    Cooling system
    Heat Pump
    Water source
    Private, Well

    Building Details

    Year built
    1986
    Flooring type
    Wood, Tile
    Building materials
    Wood Frame, Vinyl Siding
    Roof type
    Shingle, Metal
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Kathleen Gallant

    Listing agent Kathleen Gallant

    Listing office Gallant Real Estate 8 Cumberland Street, Brunswick, ME

    Listing date Apr 14, 2026

    MLS# 1649550

    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

    • Substantial 2,500 sq ft detached commercial building with 34' x 28' garage and 42' x 26' workshop suitable for various businesses (subject to zoning).
    • Pastoral views and seasonal glimpses of Merrymeeting Bay in a peaceful, rural setting.
    • Custom‑built home with distinctive wood‑paneled dining room, handcrafted kitchen cabinetry, and rich interior wood trim.
    • Open‑concept first floor with flexible living spaces, including a family room and additional living room/den.
    • Primary bedroom with en‑suite bathroom featuring a soaking tub and custom‑tiled shower.
    • Convenient location: less than 10 minutes to Brunswick, 35 minutes to Portland, and 30 minutes to Augusta and Lewiston/Auburn.

    Overview

    This mixed-use property in Bowdoinham, Maine, includes a 2,164 square foot home and a detached 2,500 square foot commercial building. The commercial building features a 34' x 28' garage suitable for RVs, boats, and recreational equipment, along with a 42' x 26' workshop. The workshop is suited for contractors, woodworkers, artists, day care, or other home-based businesses, subject to town zoning regulations. The home features an open-concept kitchen, dining, and living area, a family room, and an additional living room or den. A half bath with laundry completes the main level. Upstairs, the primary bedroom includes an en-suite bathroom with a soaking tub and custom-tiled shower. Two additional bedrooms and a full bath provide additional space. The property is set on 2.1 acres with open fields and views of Merrymeeting Bay. Outdoor features include a front porch, a screened room off the dining area, and a backyard fire pit. The property is located in a community with a waterfront park, trails, a public boat launch, and a bandstand that hosts weekly concerts and a farmer's market during the summer. Sidewalks connect the community school, town hall, library, local pub, Merrymeeting Art Center, and an art gallery. The property is less than 10 minutes from Brunswick, 35 minutes from Portland, and 30 minutes from Augusta and Lewiston/Auburn.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ed Fenimore & Sons Construction Company

    Suggested Use

    Building Supply Big Box & Wholesale Store Auto Repair Shop HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Bowdoinham
    County
    Sagadahoc
    State
    Maine
    Longitude
    -69.890725
    Latitude
    43.9763842

    Nearby Similar for Sale

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      Bowdoinham Land with Scenic Views

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      View Details
    • $2,500,000
      30,300 SF

      Industrial/Flex Property on 11.76 Acres

      30,300 SF multi-tenant property with expansion potential.
      112 Pond Road, Bowdoinham, ME
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with commercial building near Merrymeeting Bay.
    Where is this mixed-use property located?
    The property is located at 467 Bay Road Bowdoinham, ME.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: Substantial 2,500 sq ft detached commercial building with 34' x 28' garage and 42' x 26' workshop suitable for various businesses (subject to zoning).; Pastoral views and seasonal glimpses of Merrymeeting Bay in a peaceful, rural setting.; Custom‑built home with distinctive wood‑paneled dining room, handcrafted kitchen cabinetry, and rich interior wood trim.
    (207) 841-7569
    We can help!
    Listing Contact
    Kathleen Gallant
    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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