Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    611 Civic Center Drive Augusta, ME

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Land with development potential near MaineGeneral Medical Center.

    Type:RETAIL
    Lot size:
    1.94 Acres
    Added:
    Oct 24, 2024
    Days on Market:
    553
    Last Refresh:
    Apr 5 at 8:56 pm

    Property Features for 611 Civic Center Drive

    General Information

    Standard status
    Active
    Lot size
    1.94 Acres
    Property subtype
    RETAIL

    Properties For Sale

    at 611 Civic Center Drive Contact us

    We can help!

    Listing Contact
    Christopher Romano

    Listing agent Christopher Romano

    Listing office The Boulos Company

    Listing date Oct 24, 2024

    Source Moodyscre

    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 The Boulos Company

    Overview

    Development Site Near Medical Center

    This site, ranging from 0.80 to 1.94 acres, offers potential for multiple development pads. Situated at the lighted intersection of Route 3 and Civic Center Drive, the location benefits from great visibility and heavy commuter traffic. The site is suitable for drive-thru or quick-service restaurants, gas stations, convenience stores, and other commercial uses. It is located near MaineGeneral Medical Center, Central Maine Commerce Center, and I-95 Exits 112 and 113.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Law Firm Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Pharmacy Skin Care Clinic HVAC Service Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Augusta
    County
    Kennebec
    State
    Maine
    Longitude
    -69.7931
    Latitude
    44.3711

    Nearby Similar for Sale

    • $525,000
      12,093 SF

      Versatile Commercial Building in Augusta

      12,000 sq ft commercial building on 1.04-acre lot.
      10 Pethaven Lane, Augusta, ME 04330
      View Details
    • $599,000
      10,786 SF

      Augusta Commercial Investment Opportunity

      Two buildings on one property with income and flexibility.
      2 Bangor Street, Augusta, ME 04330
      View Details
    • $1,750,000
      13,446 SF

      Prime Augusta Commercial Office Building

      First-class office building with long-term tenants and high visibility.
      5 Community Drive, Augusta, ME 04330
      View Details
    • $875,000
      2,572 SF

      Prime Commercial Lot in Augusta

      1.1 acre commercial lot near Maine General and Augusta Civic Center.
      595-597 Civic Center Drive, Augusta, ME 04330
      View Details
    • $475,000

      Prime Commercial Land Overlooking Kennebec

      One-acre commercial lot with river views in Augusta, Maine.
      2 Howard Street, Augusta, ME 04330
      View Details
    • $475,000
      2,988 SF

      Augusta Commercial Property Overlooking Kennebec

      Prime commercial location with river views and development potential.
      2 Howard Street, Augusta, ME 04330
      View Details
    • $450,000
      2,756 SF

      Versatile Mixed-Use Property in Augusta

      Multi-functional property with office, retail, and residential potential.
      59 Bangor Street, Augusta, ME 04330
      View Details
    • $179,000

      Commercial Land in Augusta, Maine

      0.96 acre commercial land, approved for two duplexes.
      490-497 Old Belgrade Road, Augusta, ME 04330
      View Details
    • $299,900
      2,747 SF

      Augusta Multifamily Home with Income Potential

      Federal-style duplex ideal for owner-occupants or investors in Augusta.
      69 Green Street, Augusta, ME 04330
      View Details
    • $379,900
      1,490 SF

      Versatile Property on Civic Center Drive

      Mixed-use property ideal for investment, office, or business.
      347 Civic Center Drive, Augusta, ME 04330
      View Details
    • $179,000

      Augusta Land Ready For Development

      0.96-acre commercial land suitable for business or multi-unit building.
      490-497 Old Belgrade Road, Augusta, ME 04330
      View Details
    • $750,000

      Augusta Land Development Opportunity

      17.88 acres approved for 400 units, single-family homes.
      443 Civic Center Drive, Augusta, ME 04330
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land with development potential near MaineGeneral Medical Center.
    Where is this commercial land located?
    The property is located at 611 Civic Center Drive Augusta, ME.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: Located at lighted intersection of Route 3 and Civic Center Drive.; High visibility and heavy commuter traffic.; Potential for multiple development pads (0.80 - 1.94± AC).
    (207) 772-1333 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Christopher Romano
    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!