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    Versatile Commercial Building on Route 1 Title is generated by Realmo AI

    580 Houlton Road, Westfield, ME 04787

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    For Sale
    $219,000

    Commercial Sale, Other - Westfield, ME

    Property size:
    2,000 SF
    Lot size:
    1.33 Acres
    Price / SF:
    $109/SF
    Added:
    May 12, 2026
    Days on Market:
    2
    Last Refresh:
    May 13 at 8:06 pm

    Property Features for 580 Houlton Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    2,000 SF
    Lot size
    1.33 Acres

    Building Details

    Year built
    2021
    Architectural style
    Other

    We can help!

    Listing Contact
    Team Castle

    Listing agent Team Castle License #PersonLicenseNumber

    Listing office NextHome Discover 551 Main Street, Suite 2, ME

    Listing date May 12, 2026

    MLS# 1661757 Listing URL

    Copyright © 2026 NextHome, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑visibility location on busy Route 1, ideal for attracting customers
    • Built in 2021, offering a modern and functional commercial space
    • Versatile 2,000 sq ft shop suitable for various business types
    • Includes finished office space with heat pump for year‑round climate control
    • Features a large overhead door, propane heat in the shop, and a clean, bright interior
    • Located on 1.33 acres with approximately 180 feet of frontage

    Overview

    Located at 580 Houlton Road in Westfield, this commercial property offers a strong opportunity with excellent visibility on busy Route 1, situated just south of Presque Isle and adjacent to the Presque Isle Bypass project, which is currently in progress. Constructed in 2021, the 40x50 shop provides approximately 2,000 square feet of versatile space on a 1.33-acre lot with approximately 180 feet of frontage along Route 1. The building features high ceilings, a large overhead door, and propane heat in the shop area. The interior is clean and bright, finished with insulation and white metal. A finished office includes a heat pump for year-round heating and cooling. The building also includes a half bath, kitchenette area, storage room, and an electric water heater, along with a private well and septic system. This setup is suitable for equipment storage, contractor use, automotive-related businesses, trades, light service work, warehouse space, or any business requiring strong Route 1 exposure with ample operating space. Multiple sheds are currently on site and may be negotiable to remain or be removed depending on the buyer's needs. This is a functional commercial building in a high-visibility location, offering flexibility for a wide range of uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Map

    City
    Westfield
    County
    Aroostook
    State
    Maine
    Longitude
    -67.9630203
    Latitude
    46.5924416

    FAQs

    What type of property is this?
    Flex space - 2,000 SF commercial space with high visibility on 1.33 acres.
    Where is this flex space located?
    The property is located at 580 Houlton Road Westfield, ME.
    What is the asking price?
    The asking price for this property is $219,000.
    What are key features of this property?
    This property features: High‑visibility location on busy Route 1, ideal for attracting customers; Built in 2021, offering a modern and functional commercial space; Versatile 2,000 sq ft shop suitable for various business types
    (207) 554-0187
    We can help!
    Listing Contact
    Team Castle
    Real Estate License ID: PersonLicenseNumber
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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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