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    Mixed-Use Investment Property on Waterfront Title is generated by Realmo AI

    87 U.S Highway 1, Verona Island, ME 04416

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    For Sale
    $1,895,000

    COMMERCIAL - Verona Island, ME

    Property size:
    10,000 SF
    Lot size:
    13.37 Acres
    Price / SF:
    $189/SF
    Added:
    May 10, 2026
    Days on Market:
    4
    Last Refresh:
    May 13 at 10:06 am

    Property Features for 87 U.S Highway 1

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial/Shoreland
    Interior features
    Storage
    Standard status
    Active
    Size
    10,000 SF
    Lot size
    13.37 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    5153

    Utilities

    Sewer type
    Private Sewer
    Heating system
    Natural Gas, Baseboard, Radiant, Hot Water(Heating), Propane (Heating)
    Water source
    Private, Well

    Building Details

    Year built
    1994
    Number of units
    4
    Flooring type
    Carpet, Vinyl, Tile, Laminate
    Building materials
    Wood Frame, Vinyl Siding
    Roof type
    Metal
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Elaine Pelletier

    Listing agent Elaine Pelletier

    Listing office Better Homes & Gardens Real Estate/The Masiello Group 1162 Union Street, Bedford, ME

    Listing date May 10, 2026

    MLS# 1657309

    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

    • Multiple Income Streams: Retail, food service, fuel sales, and residential units.
    • High‑Traffic Waterfront Location: Prime frontage on U.S. Route 1 with waterfront access.
    • Future Development Potential: 13.37 acres of cleared land offers expansion possibilities.
    • Turnkey Commercial Investment: Established convenience store, pizza business, and gas pumps.
    • Residential Income: Two completed one‑bedroom apartments.
    • Additional Buildings: Two separate structures ready for renovation and added income.

    Overview

    This mixed-use property on 13.37 acres combines retail, food service, fuel sales, residential income, and future development potential in a waterfront location. The property features an established convenience store, a fully equipped pizza business with a commercial kitchen, and two full-service gas pumps. There is additional space for a third business or expansion opportunity. Two separate structures previously used as a takeout restaurant and ice cream shop are ready for renovation. The second floor features two completed one-bedroom apartments, with two additional partially finished units ready to complete. The property has frontage on U.S. Route 1 and approximately 500 feet of waterfront on the Penobscot River. The property has a paved driveway with easy access. Daily traffic counts are between 8,000-10,000 vehicles.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Verona Island
    County
    Hancock
    State
    Maine
    Longitude
    -68.791912
    Latitude
    44.5637324

    Nearby Similar for Sale

    • $399,900
      1,120 SF

      Verona Island Commercial Opportunity

      Versatile building on 3 acres with Route 1 visibility.
      136 US-1, Verona Island, ME 04416
      View Details
    • $419,900
      1,120 SF

      Verona Island Commercial Opportunity

      Versatile building with office, garage, and ample parking.
      136 US-1, Verona Island, ME 04416
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - High-traffic commercial property with retail, food, fuel, and residential income.
    Where is this mixed-use property located?
    The property is located at 87 U.S Highway 1 Verona Island, ME.
    What is the asking price?
    The asking price for this property is $1,895,000.
    What are key features of this property?
    This property features: Multiple Income Streams: Retail, food service, fuel sales, and residential units.; High‑Traffic Waterfront Location: Prime frontage on U.S. Route 1 with waterfront access.; Future Development Potential: 13.37 acres of cleared land offers expansion possibilities.
    (207) 852-4021
    We can help!
    Listing Contact
    Elaine Pelletier
    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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    87 U.S. Highway 1, Verona Island, ME 04416
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