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    Commercial Land in Pine Tree Park Title is generated by Realmo AI

    Passamaquoddy Lane, Eliot, ME 03903

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    For Sale
    $324,900

    COMMERCIAL - Eliot, ME

    Property size:
    5,600 SF
    Lot size:
    11.69 Acres
    Price / SF:
    $58/SF
    Added:
    Apr 4, 2026
    Days on Market:
    40
    Last Refresh:
    May 13 at 8:06 pm

    Property Features for Passamaquoddy Lane

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C/I
    Standard status
    Active
    Size
    5,600 SF
    Lot size
    11.69 Acres

    Taxes and HOA fees

    Tax Year
    2021
    Tax Annual Amount
    2902

    Utilities

    Sewer type
    Private Sewer
    Heating system
    Natural Gas
    Water source
    Public

    We can help!

    Listing Contact
    Richard DeSoto

    Listing agent Richard DeSoto License #ME BR921573

    Listing office Keller Williams Coastal and Lakes & Mountains Realty 1000 US Route 1 Suite 101, Portsmouth, ME

    Listing date Apr 4, 2026

    MLS# 1519955

    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

    • Approved industrial/warehouse/mixed retail pad units near I‑95
    • Kittery town water & sprinkler system hook up included
    • 3‑phase electric and transformer box available
    • Seller will bring town sewer to the project pads
    • Clean gravel pad site with 1,000 gallon septic included
    • Various unit sizes available: 4,800, 5,600, 6,000 & 7,200 SF

    Overview

    Two lots remain available within the Pine Tree Business Park, offering approved industrial, warehouse, and mixed-retail pad units for sale. Conveniently located near I-95, Unit 6 includes a gravel pad site, a 1,000-gallon septic system, Kittery Town water and sprinkler system hook-up, a collection box, a transformer box, and 3-phase electric. Parking will be paved and landscaping will be installed in common areas, along with separate gas tanks. The site is part of a proposed development of nine pads totaling 50,000 square feet, with options for 4,800, 5,600, 6,000, and 7,200 square feet. Pads 2-9 will feature commercial and industrial spaces suitable for uses permitted within the Commercial/Industrial zone regulations of Eliot, Maine. A portion of the parcel, identified as Lot 31 on Tax Map 29, is located within the limited commercial shoreland overlay district. The seller intends to bring town sewer access to the project pads, with the buyer responsible for the connection expenses. This 11.69-acre site presents a commercial opportunity within Eliot's Pine Tree Business Park.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Eliot
    County
    York
    State
    Maine
    Longitude
    -70.7845
    Latitude
    43.1505

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    FAQs

    What type of property is this?
    Commercial land - Approved industrial/warehouse/mixed retail pad unit for sale.
    Where is this commercial land located?
    The property is located at Passamaquoddy Lane Eliot, ME.
    What is the asking price?
    The asking price for this property is $324,900.
    What are key features of this property?
    This property features: Approved industrial/warehouse/mixed retail pad units near I‑95; Kittery town water & sprinkler system hook up included; **3‑phase electric and transformer box available**
    (207) 408-8969
    We can help!
    Listing Contact
    Richard DeSoto
    Real Estate License ID: ME BR921573
    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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    Passamaquoddy Lane, Eliot, ME 03903
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