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    4 Sawyer St Phillips, ME 04966

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    4 Sawyer St Phillips, ME 04966

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    • Commercial real estate
    • 2,722 SF
    • 0.12 lot acres
    For Sale
    $127,000
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    Historic Phillips Commercial Building For Sale
    $127,000
    2,722 SF

    Historic Phillips Commercial Building

    Iconic Landmark, Endless Potential, 2722 sq ft

    4 Sawyer St, Phillips, ME 04966
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 4 Sawyer St

    Year built
    1835
    Lot size
    0.12 lot acres
    Property size
    2,722 SF
    Property type
    Commercial real estate

    Description

    This stunning 2,722 square foot commercial building, situated on a 0.12-acre lot at 4 Sawyer Street in Phillips, Maine, presents a unique investment opportunity. Constructed in 1835, this historic landmark is deeply ingrained in the town's identity, frequently serving as its visual symbol. The property boasts a wealth of original features, including a functional bell, pews, an antique lectern, two organs, and a piano, all adding to its unique character and charm. Recent upgrades include the installation of new windows and doors, fresh paint throughout, a new furnace, and a replacement oil tank, ensuring both historical preservation and modern functionality. Its prime location, just 15 minutes from Farmington and 25 minutes from Rangeley, offers excellent accessibility. Accepted onto the National Register of Historic Places in 1989, this property's rich history and versatile layout offer countless commercial possibilities. Imagine hosting weddings, events, performances, or establishing an auction house, retail space, or any number of other ventures within these historic walls. The possibilities are as limitless as the building's charm. Priced at $127,000, this is a rare chance to own a piece of Maine history and capitalize on its immense potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Phillips
    County
    Franklin
    State
    Maine
    Longitude
    -70.3393
    Latitude
    44.8233

    Comparable in this City

    • Value Estimation by Request
      9,400 SF

      10 Main St

      Commercial real estate • 9,400 SF
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    • Value Estimation by Request
      58.00 Acres

      235 Coffren Rd

      FINANCIAL BUILDING • 58.00 Acres
      235 Coffren Rd, Phillips, ME 04966-4149
      View Details
    • Value Estimation by Request
      1.10 Acres

      103 Toothaker Pond Rd

      FINANCIAL BUILDING • 1.10 Acres
      103 Toothaker Pond Rd, Phillips, ME 04966-4201
      View Details

    Similar Nearby for Sale

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      Main Street Commercial Building

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    • $127,000
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      Historic Phillips Commercial Building

      Iconic Landmark, Endless Potential, 2722 sq ft
      4 Sawyer St, Phillips, ME 04966
      View Details
    • $83,500
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      Open Lot with Utilities

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      Land with Mountain Views

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    • $899,000
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      Commercial Opportunity in Western Maine

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    Phillips, ME 04966
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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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