Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    32 Sky-Hy Dr Topsham, ME 04086

    • Commercial real estate
    • 21,844 SF
    • 21.00 lot acres
    For Sale
    View listing
    $1,650,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 32 Sky-Hy Dr

    Year built
    1963
    Lot size
    21.00 lot acres
    Property size
    21,844 SF
    Property type
    Commercial real estate

    Description

    This exceptional 21,844 square-foot commercial property, situated on 21 acres in Topsham, Maine, presents a unique investment opportunity. Originally a 1960s ski lodge, the Sky-Hy Conference Center has been meticulously transformed into a multi-functional facility boasting stunning ocean views. The ground floor features a full commercial kitchen, a large divisible conference center (easily separated into two spaces), ample office space, and restrooms designed for high-capacity events. The upper levels offer versatile space including comfortable living quarters, additional well-appointed offices, and meeting rooms. A serene chapel is located on the third floor, adding to the property's unique character. The fourth floor provides breathtaking panoramic views, ideal for exclusive events or simply enjoying the scenery. This iconic property offers unparalleled potential as an event center, corporate retreat, boutique resort, or other high-end commercial use. Its rich history and stunning location combine to create an exceptional opportunity for the discerning buyer. The property's design accentuates the unobstructed views of rolling hills, serene landscapes, and the expansive ocean horizon. This is a rare chance to acquire a piece of history with significant untapped potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Topsham
    County
    Sagadahoc
    State
    Maine
    Longitude
    -69.9778
    Latitude
    43.9918

    Comparable in this City

    • Value Estimation by Request
      2.07 Acres

      11 Winners Cir

      COMMERCIAL (GENERAL) • 2.07 Acres
      11 Winners Cir, Topsham, ME 04086-1727
      View Details
    • Value Estimation by Request
      4,048 SF

      16 Rex Rd

      SHOW ROOM, WAREHOUSE • 4,048 SF
      16 Rex Rd, Topsham, ME 04086-5822
      View Details
    • Value Estimation by Request
      2,943 SF

      71 Canam Dr

      SHOW ROOM, WAREHOUSE • 2,943 SF
      71 Canam Dr, Topsham, ME 04086
      View Details
    • Value Estimation by Request
      3.50 Acres

      23 Winter St

      COMMERCIAL (GENERAL) • 3.50 Acres
      23 Winter St, Topsham, ME 04086-1660
      View Details
    • Value Estimation by Request
      5.00 Acres

      53 Winter St

      COMMERCIAL (GENERAL) • 5.00 Acres
      53 Winter St, Topsham, ME 04086-1616
      View Details
    • Value Estimation
      $4,895,000
      101,903 SF

      30 Governors Way

      COMMERCIAL (GENERAL) • 101,903 SF
      30 Governors Way, Topsham, ME 04086-1680
      View Details

    Similar Nearby for Sale

    • $1,650,000
      21,844 SF

      Sky-Hy Conference Center: Topsham, ME

      Iconic Conference Center, Ocean Views
      32 Sky-Hy Dr, Topsham, ME 04086
      View Details
    • $1,500,000
      2.66 Acres

      Topsham Commercial Property with Auto

      Commercial property with warehouse and auto repair shop in Topsham.
      34 Compass Ln, Topsham, ME 04086
      View Details
    • New
      $499,000
      2,400 SF

      Historic Mixed-Use Building in Topsham

      Unique property with flexible living and commercial possibilities.
      38 Main St, Topsham, ME 04086
      View Details
    • $389,000
      0.41 Acres

      Corner Lot in Topsham, ME

      Corner, level lot in Topsham with development potential.
      118 Main St, Topsham, ME 04086
      View Details
    • $999,999

      Vacant Land Near I-295

      2-15 acre vacant land parcel with build-to-suit options.
      Village Dr, Topsham, ME 04086
      View Details
    • $1,195,000
      21,844 SF

      Iconic Sky-Hy Conference Center

      Multi-functional facility with ocean views, conference center, and living quarters.
      32 Sky-Hy Dr, Topsham, ME 04086
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      31,799 SF

      Topsham Pad Site - Market Basket!

      High-traffic retail land near Market Basket.
      133 Topsham Fair Mall Rd, Topsham, ME 04086
      View Details
    • $12 SF/Yr
      2,000 SF

      Topsham Warehouse/Flex Space Available

      2,000±SF warehouse/flex unit for rent, minutes from I-295.
      12 Center Park Rd, Topsham, ME 04086
      View Details
    • $16 SF/Yr
      9,163 SF

      Bowdoin Mill Office Space Available

      Office space in a modern mill setting with riverfront views.
      11 Bowdoin Mill Is, Topsham, ME 04086
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space in Topsham

      1,200 SF retail space with excellent visibility and access.
      127 Topsham Fair Mall Rd, Topsham, ME 04086
      View Details
    • $20 SF/Yr
      7,633 SF

      Topsham Medical/Office Space Available

      Prime medical/office space with high visibility and easy access.
      105 Topsham Fair Mall Rd, Topsham, ME 04086
      View Details
    • $28 SF/Yr
      3,224 SF

      Restaurant with Drive-Thru For Lease

      Restaurant with drive-thru available for lease in Topsham, Maine.
      3 Horton Pl, Topsham, ME 04086
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    32 Sky-Hy Dr
    Topsham, ME 04086
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!