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    Versatile Commercial Property on Route 2 Title is generated by Realmo AI

    694 River Road, Mexico, ME 04257

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    Claim this Listing
    New
    For Sale
    $189,900

    COMMERCIAL - Mexico, ME

    Property size:
    1,976 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $96/SF
    Added:
    May 18, 2026
    Days on Market:
    5
    Last Refresh:
    May 22 at 10:06 am

    Property Features for 694 River Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    No Local
    Standard status
    Active
    Size
    1,976 SF
    Lot size
    0.16 Acres

    Utilities

    Sewer type
    Holding Tank
    Heating system
    Forced Air, Oil
    Water source
    Well, Private

    Building Details

    Year built
    1976
    Flooring type
    Concrete
    Building materials
    Wood Frame, Vinyl Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Matthew Pingree

    Listing agent Matthew Pingree

    Listing office Amnet Realty 1071B Auburn Road, Turner, ME

    Listing date May 18, 2026

    MLS# 1662595

    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

    • High visibility location directly on U.S. Route 2 with excellent traffic exposure.
    • Approximately 1,856 sq ft of workshop space and 120 sq ft of office space.
    • Two oversized garage doors (10'x10' and 8'x10') for easy vehicle/equipment access.
    • Paved parking lot for convenient customer parking.
    • Versatile property suitable for retail, workshop, automotive, or warehouse use.
    • Forced hot air heating system and private well.

    Overview

    This commercial property is located directly on U.S. Route 2, offering traffic exposure and year-round access. The building includes approximately 1,856 square feet of workshop space and 120 square feet of office space, suitable for various commercial uses. A paved parking lot provides customer parking. There are two oversized garage doors, one measuring 10 feet high by 10 feet wide, and the other measuring 8 feet high by 10 feet wide. Inside, there is a functional layout with a half bath, a private well, and a forced hot air heating system. The property has housed multiple businesses, including a used car lot, a sign shop, and a bottle redemption center. It is suitable for retail, workshop space, automotive use, contractor headquarters, warehouse space, or a service-based business location. The lot size is 0.16 acres, and the property size is 1976 square feet. The property is located in Mexico, Maine, in Oxford County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Restaurant Spa & Massage Center Hair Salon Auto Repair Shop Nail Salon Storage Facility (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Butcher

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

    Location Insight

    • Map
    • Local Demand
    City
    Mexico
    County
    Oxford
    State
    Maine
    Longitude
    -70.4781202
    Latitude
    44.5318272

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    FAQs

    What type of property is this?
    Auto shop - Highly visible commercial property suitable for various business uses.
    Where is this auto shop located?
    The property is located at 694 River Road Mexico, ME.
    What is the asking price?
    The asking price for this property is $189,900.
    What are key features of this property?
    This property features: High visibility location directly on U.S. Route 2 with excellent traffic exposure.; Approximately 1,856 sq ft of workshop space and 120 sq ft of office space.; Two oversized garage doors (10'x10' and 8'x10') for easy vehicle/equipment access.
    (207) 357-8891
    We can help!
    Listing Contact
    Matthew Pingree
    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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