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    10 Payne Ave Rockland, ME 04841-2118
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    Property profile & analytics

    10 Payne Ave Rockland, ME 04841-2118

    View on Map
    • Retail properties & Spaces
    • 34,280 SF
    • 4.29 lot acres
    Off-Market
    Property ID
    US42-0405251
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,390,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • E.L. Spear Inc. Lumber and Hardware / Building Supply / Hardware & Home Improvement

    Property Details for 10 Payne Ave

    Year built
    1960
    Construction
    STEEL FRAME
    Lot size
    4.29 lot acres
    Property size
    34,280 SF
    Property type
    Retail properties & Spaces
    APN
    ROCD M:055A L:04000
    APU
    ROCDM055AL04000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $995,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,780,000
      Market price range: $1.77M - $5.62M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Rockland
    County
    Knox
    State
    Maine
    Longitude
    -69.1272
    Latitude
    44.0998
    CBSA code
    40500
    CBSA name
    ROCKLAND, ME MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $46,329
    $383,700
    $1,525,200
    $1,908,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $8,650,000
      96,194 SF

      270 Camden St

      DEPARTMENT STORE • 96,194 SF
      270 Camden St, Rockland, ME 04841-2529
      View Details
    • Value Estimation by Request
      480 SF

      781 Main St

      DEPARTMENT STORE • 480 SF
      781 Main St, Rockland, ME 04841-3427
      View Details
    • Value Estimation by Request
      3,177 SF

      463 Main St

      DEPARTMENT STORE • 3,177 SF
      463 Main St, Rockland, ME 04841-3336
      View Details
    • Value Estimation by Request
      1,174 SF

      470 Main St

      DEPARTMENT STORE • 1,174 SF
      470 Main St, Rockland, ME 04841-3344
      View Details
    • Value Estimation by Request
      2,272 SF

      376 Main St

      DEPARTMENT STORE • 2,272 SF
      376 Main St, Rockland, ME 04841-3346
      View Details
    • Value Estimation by Request
      12,286 SF

      456 Main St

      DEPARTMENT STORE • 12,286 SF
      456 Main St, Rockland, ME 04841-3344
      View Details

    Similar Nearby for Sale

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      1,307.00 Acres

      Downtown Rockland Take Out Stand

      Downtown Rockland parcel with high foot traffic and development potential.
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    • $825,000
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      Mixed-Use Building on Main Street

      Corner lot mixed-use building with fully leased retail units.
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    • $5,200,000
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      Rockland Harbor Waterfront Redevelopment Opportunity

      2.75 acres on Rockland Harbor with redevelopment potential.
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    • $1,375,000
      8,241 SF

      Rockland Brewing Facility and Restaurant

      Versatile space with brewing setup, dining, and outdoor patio.
      5 Payne Ave, Rockland, ME 04841
      View Details
    • $5,200,000
      2.92 Acres

      Waterfront Redevelopment Opportunity in Rockland

      2.75 acres on Rockland Harbor with redevelopment potential.
      779 Main St, Rockland, ME 04841
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    • $965,000
      10,066 SF

      Downtown Rockland Commercial Building For Sale

      Profitable retail business with additional rental units in vibrant location.
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    Similar Nearby for Lease

    • Contact for pricing
      1,383 SF

      Retail Space on Main Street

      Retail space for lease in Rockland, Maine with 1,383 SF.
      305 Main St, Rockland, ME 04841
      View Details
    • $15 SF/Yr
      1,740 SF

      Retail Space in Harbor Plaza

      High-traffic retail space with national tenants in Rockland, Maine.
      235 Camden Street Ter, Rockland, ME 04841
      View Details
    • Contact for pricing

      Premier Shopping Center Retail Space

      Established shopping center with national tenants and high foot traffic.
      235 Camden St, Rockland, ME 04841
      View Details
    • Contact for pricing
      5,688 SF

      Industrial Property in Rockland, Maine

      Industrial property available for rent in Rockland, Maine.
      164 New County Rd, Rockland, ME 04841
      View Details
    • $11 SF/Yr

      Route One Flex Space

      Flex space on Route One near retail and city hall.
      164 New County Rd, Rockland, ME 04841
      View Details

    Property Visit Statistics

    • Visits by month
      5.0k
    • Visitors by month
      2.9k
    • Avg Time on site
      15 min
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    Rockland, ME 04841-2118
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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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