Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    69 Mills Rd Kennebunkport, ME 04046
    Back to Search
    Property profile & analytics

    69 Mills Rd, Kennebunkport, ME 04046

    View on Map
    • Specialty properties
    • 1.03 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Romano Realty / Real Estate Agency

    Property Details for 69 Mills Rd

    Lot size
    1.03 lot acres
    Property type
    Specialty properties
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional mixed-use property in Kennebunkport, Maine, presents a unique owner-user opportunity. Located at 69 Mills Road, this meticulously renovated property boasts two buildings on a 1.03-acre lot, offering a total of 1,500 square feet of net rentable space. The main building features five bedrooms and four bathrooms, ideal for comfortable living. The adaptable floor plan allows for various business uses, including medical, office, or retail spaces. The separate cottage provides additional versatility, potentially serving as an art studio, office, or guest quarters. Recent renovations (2024) include a new roof, windows, vinyl siding, and a two-car garage. Efficient heating and cooling are provided by seven heat pumps, supplemented by oil-fired forced hot water heat and two propane fireplaces. The property's prime location across from a highly-rated restaurant enhances its commercial potential. The zoning is FE, and the property is priced at $1,095,000, significantly below its appraised value of $1,595,000. This turnkey property offers a blend of residential comfort and commercial viability, making it perfect for a professional seeking a live-work arrangement or an investor looking for a high-return opportunity. The property's versatility extends to potential uses as a vacation rental or bed and breakfast. This is a rare chance to own a piece of Kennebunkport's charm and capitalize on its thriving tourism and business sectors. The property's Class B designation reflects its high-quality construction and recent renovations.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Kennebunkport
    County
    York
    State
    Maine
    Longitude
    -70.4405
    Latitude
    43.381

    Comparable in this City

    • Value Estimation by Request
      1,976 SF

      17 Coopers Trl

      Mixed-use properties
      17 Coopers Trl, Arundel, ME 04046
      View Details
    • Value Estimation by Request
      15.00 Acres

      Cole Benson Rd

      CHARITABLE ORGANIZATION
      Cole Benson Rd, Kennebunkport, ME 04046
      View Details
    • Value Estimation by Request
      0.87 Acres

      Dyke Rd

      CHARITABLE ORGANIZATION
      Dyke Rd, Kennebunkport, ME 04046
      View Details
    • Value Estimation by Request
      0.29 Acres

      9 Prescott Dr

      CHARITABLE ORGANIZATION
      9 Prescott Dr, Kennebunkport, ME 04046-5536
      View Details
    • Value Estimation by Request
      1.47 Acres

      Tidal Shr Dr

      CHARITABLE ORGANIZATION
      Tidal Shr Dr, Kennebunkport, ME 04046
      View Details
    • Value Estimation by Request
      73.05 Acres

      Mls Rd

      CHARITABLE ORGANIZATION
      Mls Rd, Kennebunkport, ME 04046
      View Details

    Similar Nearby for Sale

    • New
      $499,000
      1,857 SF

      Arundel Mixed-Use Commercial Property

      Turnkey residential/commercial property with high visibility and ample parking.
      208 New Rd, Arundel, ME 04046
      View Details
    • $3,499,000
      6,258 SF

      Kennebunkport Mixed-Use Investment Opportunity

      Prime dock square location with diverse income streams and expansion potential.
      3 Union St, Kennebunkport, ME 04046
      View Details
    • New
      $1,750,000
      10,491 SF

      Unique Kennebunkport Commercial Gem

      Versatile property with event center, garage, and residential space.
      245 Arundel Rd, Kennebunkport, ME 04046
      View Details
    • New
      $499,000
      1,857 SF

      Turnkey Arundel Mixed-Use Property

      Equipped residential/commercial property with high visibility and accessibility.
      208 New Rd, Arundel, ME 04046
      View Details
    • $1,625,000
      612 SF

      42 Langsford Rd, Kennebunkport, ME 04046

      Retail properties & Spaces
      42 Langsford Rd, Kennebunkport, ME 04046
      View Details
    • $19,300,000
      46.25 Acres

      Premier Campground Resort in Maine

      Kennebunkport campground resort with 282 sites on 46.25 acres.
      277 Mills Rd, Kennebunkport, ME 04046
      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.
    69 Mills Rd
    Kennebunkport, ME 04046
    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

    Thank You for Inquiry
    69 Mills Rd, Kennebunkport, ME, 04046
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!