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    Hob Rd Corinth, ME 04427

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    Hob Rd Corinth, ME 04427

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    • Warehouses
    • 19,000 SF
    • 120.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 0 Hob Rd

    Lot size
    120.00 lot acres
    Property size
    19,000 SF
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional 120-acre industrial property in Corinth, Maine, presents a compelling redevelopment opportunity. Located on Hob Rd, directly off State Highway 15, this site offers unparalleled access and visibility, just 25 minutes north of Bangor. The property includes two buildings totaling 19,000 square feet, although one sustained partial fire damage in 2018. The buildings are currently vacant, allowing for complete customization to suit diverse industrial needs, including distribution, manufacturing, or warehousing. The property boasts three dock-high doors and an 18-foot ceiling height in the undamaged building. The site is zoned for industrial use and benefits from the presence of three-phase power, with the main Versant Power transmission line situated at the rear. The asking price is $995,000, translating to $52.37 per square foot. Given the expansive acreage, this property also presents significant potential for ground-mounted solar development. The property's location, infrastructure, and size make it an ideal canvas for a variety of industrial projects. The parcel number is 08-20-25. This is a rare chance to acquire a substantial industrial site in a strategic location with significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Corinth
    County
    Penobscot
    State
    Maine
    Longitude
    -69.0101
    Latitude
    44.9909

    Comparable in this City

    • Value Estimation by Request
      0.46 Acres

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      HEAVY INDUSTRIAL • 0.46 Acres
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    • Value Estimation by Request
      27.00 Acres

      389 Mccard Rd

      FISH CAMPS, GAME TARGET SHOOTING • 27.00 Acres
      389 Mccard Rd, Corinth, ME 04427
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    • Value Estimation by Request
      3,464 SF

      744 Grant Rd

      FINANCIAL BUILDING • 3,464 SF
      744 Grant Rd, Corinth, ME 04427-3541
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      792 SF

      287 Main St

      FINANCIAL BUILDING • 792 SF
      287 Main St, Corinth, ME 04427
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    • Value Estimation by Request
      560 SF

      213 Main St

      FINANCIAL BUILDING • 560 SF
      213 Main St, Corinth, ME 04427
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    • Value Estimation by Request
      1,568 SF

      20 Oscar Dr

      FINANCIAL BUILDING • 1,568 SF
      20 Oscar Dr, Corinth, ME 04427-3629
      View Details

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    Hob Rd
    Corinth, ME 04427
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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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