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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    105 Union Ave Old Orchard Beach, ME 04064

    • Commercial real estate
    • 6,152 SF
    • 0.26 lot acres
    For Sale
    View listing
    $1,190,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0397688
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 105 Union Ave

    Year built
    1900
    Lot size
    0.26 lot acres
    Property size
    6,152 SF
    Property type
    Commercial real estate
    APN
    Map 314, Block 14, Lot 3

    Description

    This exceptional investment opportunity presents a well-maintained four-unit apartment building located at 105 Union Avenue in Old Orchard Beach, Maine. The property, situated on a 0.26-acre lot (APN: Map 314, Block 14, Lot 3), boasts a total of 6,152 square feet and is zoned R-2. Built in 1900, the building comprises one structure housing four residential units. The configuration includes two two-bedroom units at the front and two three-bedroom units at the rear. The two rear three-bedroom units underwent a complete remodel in 2018. Ample tenant parking is ensured by four convenient driveways. This property's prime location offers exceptional proximity to the beach, making it highly attractive to renters and promising strong rental income potential. The asking price for this multifamily investment is $1,290,000. This represents a compelling opportunity to acquire a well-situated, income-generating property in a desirable coastal Maine location. The property is owned by 105 Union Avenue LLC. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Old Orchard Beach
    County
    York
    State
    Maine
    Longitude
    -70.3878234
    Latitude
    43.511595

    Comparable in this City

    • $2,499,990
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      Turn-Key Retail & Residential Property

      Mixed-use property near beach with retail and residential potential.
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    • $1,190,000
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      Four-Unit Apartment Building Near Beach

      Year-round apartment building with multiple rental opportunities near the beach.
      105 Union Ave, Old Orchard Beach, ME 04064
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    • $750,000
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      Mixed-Use Property Near Old Orchard

      Two residential units plus a detached commercial space near the beach.
      113-115 Saco Ave, Old Orchard Beach, ME 04064
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    • $4,950,000
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      Landmark Lodging Compound Near Beach

      14-unit lodging compound near the beach in Old Orchard Beach.
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    • $279,000
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      Spacious lots in Old Orchard Beach, build your dream home.
      12 Red Oak Dr, Old Orchard Beach, ME 04064
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    • $229,000
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      Old Orchard Beach Land Opportunity

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      Juniper St, Old Orchard Beach, ME 04064
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    Similar Nearby for Sale

    • $2,499,990
      3,616 SF

      Turn-Key Retail & Residential Property

      Mixed-use property near beach with retail and residential potential.
      57 E Grand Ave, Old Orchard Beach, ME 04064
      View Details
    • $1,190,000
      4,016 SF

      Four-Unit Apartment Building Near Beach

      Year-round apartment building with multiple rental opportunities near the beach.
      105 Union Ave, Old Orchard Beach, ME 04064
      View Details
    • $750,000
      2,702 SF

      Mixed-Use Property Near Old Orchard

      Two residential units plus a detached commercial space near the beach.
      113-115 Saco Ave, Old Orchard Beach, ME 04064
      View Details
    • $279,000
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      Land in Sea Oaks Community

      Land for sale in a private, wooded community in Maine.
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    • $279,000
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      Residential Land in Coastal Community

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    • $279,000
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      Land in Coastal Community

      Spacious lots in a private, wooded community near beaches.
      49 Red Oak Dr, Old Orchard Beach, ME 04064
      View Details
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    105 Union Ave
    Old Orchard Beach, ME 04064
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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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