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    424 Walnut Hill Rd North Yarmouth, ME 04097

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    For Sale
    Contact for pricing

    Profitable multi-unit investment opportunity.

    Property size:
    6,832 SF

    Property Features for 424 Walnut Hill Rd

    General Information

    Property type
    Bars & Pubs
    Square Feet
    6,832 SF
    Class
    A
    Lot Size
    22,651 SF

    Building Details

    Year Built
    1910
    Buildings
    2
    Stories
    2
    Units
    2

    We can help!

    Listing Contact
    Karen Rich
    Karen Rich

    Listing Agency: Malone Commercial Brokers Listing Agent: Karen Rich

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional Class A mixed-use property, located at 424 Walnut Hill Road in North Yarmouth, Maine (04097), presents a compelling investment opportunity. The property encompasses two buildings on a 0.52-acre lot (APN: Map 007, Lot 029) and totals 6,832 square feet. The main building, a 4,624 square foot, two-story structure, houses a thriving 2,999 square foot restaurant on the ground floor and two apartments on the upper level. A second building, a barn and event center, offers 1,262 square feet of finished space on the first floor, plus an additional 946 square feet of unfinished attic space. The property boasts a strong tenancy history and is currently fully leased. Extensive renovations have been completed within the last three years (2021, 2022, and 2023), including comprehensive updates to the barn, restaurant, and both apartments. Further enhancing the property's value, a new shingle roof was installed on the main building in December 2023. This turnkey investment offers a blend of established commercial and residential income streams, situated in the desirable North Yarmouth market. The property's combination of updated facilities, strong rental income, and prime location makes it an attractive prospect for discerning investors seeking a high-return, low-maintenance asset. The asking price is $1,450,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Trudy Bird's Ølbar Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Spa & Massage Center Auto Repair Shop Hair Salon Auto Parts Store Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    North Yarmouth
    County
    Cumberland
    State
    Maine
    Longitude
    -70.247352150566
    Latitude
    43.826598234338

    Nearby Similar for Sale

    • $549,000
      3,168 SF

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      Prime corner location with commercial and residential potential.
      4 Parsonage Rd, North Yarmouth, ME 04097
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    • $549,000
      3,168 SF

      Mixed-Use Property in North Yarmouth

      Versatile property with residential and commercial potential in North Yarmouth.
      4 Parsonage Rd, North Yarmouth, ME 04097
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    • Contact for pricing
      6,832 SF

      Mixed-Use Property in North Yarmouth

      Fully leased mixed-use property with restaurant, apartments, and event space.
      424 Walnut Hill Rd, North Yarmouth, ME 04097
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Profitable multi-unit investment opportunity.
    Where is this bar & pub located?
    The property is located at 424 Walnut Hill Rd North Yarmouth, ME.
    What is the asking price?
    The asking price for this property is $1,450,000.
    What are key features of this property?
    This property features: Fully leased commercial property on Walnut Hill Road, North Yarmouth.; Two-building property: 4,624± SF main building with a 2,999± SF restaurant and two apartments; plus a 1,262± SF barn/event center with 946± SF unfinished attic space.; Extensive renovations completed within the last three years, including the barn, restaurant, and a two-bedroom apartment; new roof on main building (December 2023).
    (207) 775-7363 Call to check price and availability
    Request Owner's contact information
    424 Walnut Hill Rd North Yarmouth, ME 04097
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    North Yarmouth, ME 04097
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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
    424 Walnut Hill Rd North Yarmouth, ME 04097
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Karen Rich
    Karen Rich
    Real Estate License ID: 900465
    (207) 775-7363
    Learn more
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