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    Waterfront Land on First Chain Lake Title is generated by Realmo AI

    Widerness Way N lot 3, Wesley, ME 04686

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    For Sale
    $145,000

    LAND - Wesley, ME

    Lot size:
    2.18 Acres
    Added:
    Apr 8, 2026
    Days on Market:
    36
    Last Refresh:
    May 13 at 10:06 pm

    Property Features for Widerness Way N lot 3

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RES
    Standard status
    Active
    Lot size
    2.18 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    790

    Utilities

    Sewer type
    Septic Needed
    Water front features
    Lake
    Water front
    1

    We can help!

    Listing Contact
    Daniel Demers

    Listing agent Daniel Demers License #10491205270

    Listing office Sell Your Home Services 21 Ninth Street, East Providence, ME

    Listing date Apr 8, 2026

    MLS# 1643838 Listing URL

    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

    • 350 feet of waterfront on First Chain Lake (7 miles long) with Boat Dock & Swim Raft.
    • Building Permit issued for main home, guest bunk house, and garage; main home lower level foundation (48x34') is completed.
    • Two‑acre lot with two sandy beach areas and two fire rings.
    • Land cleared with two driveway entrances and completed septic plan.
    • Solar Panels Electric On Site: Electricity already available.
    • Located in a quiet cove with access to ATV‑Snowmobile trails; great 4‑season recreation area.

    Overview

    This 2.18-acre waterfront property is located on the shores of First Chain Lake, which spans approximately 7 miles. The lot offers 350 feet of waterfront and includes a boat dock, swim raft, two sandy beach areas, and two fire rings on the beach. The land has been cleared and has two driveway entrances. A septic plan has been completed, and a building permit has been issued for a main home, guest bunk house, and garage. The foundation for the main home's lower level is complete. This level, measuring 48x34', is designed to include a drive-in garage, shop and storage area, family room and kitchenette, two bedrooms, and a full bath/laundry. The roof is flat rubber roofing. The lower level can be finished and used as is, or an additional story can be built above. Electricity is available on-site. The property is located in an area with access to hundreds of miles of ATV-snowmobile trails, making it suitable for four-season recreation. The mature forest provides a majestic feel throughout the property. The zoning is RES. The property offers the opportunity to build a lakeside retreat or year-round home.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Wesley
    County
    Washington
    State
    Maine
    Longitude
    -67.4619
    Latitude
    44.7153

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    FAQs

    What type of property is this?
    Waterfront Land - 2.18-acre waterfront lot with 350 feet of frontage.
    Where is this waterfront land located?
    The property is located at Widerness Way N lot 3 Wesley, ME.
    What is the asking price?
    The asking price for this property is $145,000.
    What are key features of this property?
    This property features: 350 feet of waterfront on First Chain Lake (7 miles long) with **Boat Dock & Swim Raft**.; Building Permit issued for main home, guest bunk house, and garage; **main home lower level foundation (48x34') is completed.**; Two‑acre lot with **two sandy beach areas and two fire rings.**
    (888) 219-3009
    We can help!
    Listing Contact
    Daniel Demers
    Real Estate License ID: 10491205270
    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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