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    Property profile & analytics

    124 Main St Cornish, ME 04020-3236

    • Investment properties
    • 4,280 SF
    • 1.97 lot acres
    OFF-MARKET
    Last Sale
    Oct 14, 2022
    $440,600
    Value Estimations
    $640,000
    Show details
    Cap Rate Potential
    9.5%
    Investment properties
    Location Intelligence
    Property ID
    US42-0392675
    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

    • Maine Bitcoin LLC / Atm
    • CORNISH MARKET AND VARIETY / Gas Station / Variety Store
    • Mason's Variety Store / Variety Store

    Property Details for 124 Main St

    Year built
    1960
    Construction
    FRAME
    Lot size
    1.97 lot acres
    Property size
    4,280 SF
    Zone code
    CD
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    CNSH M:U04 L:013
    APU
    CNSHMU04L013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $560,000
      ML approach
      $485,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $885,000
      6.5%
      $820,000
      7%
      $760,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $668,000
      Market price range: $539k - $1.91M

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

    Location Insight

    • Map
    • Local Demand
    City
    Cornish
    County
    York
    State
    Maine
    Longitude
    -70.7924
    Latitude
    43.8032
    CBSA code
    38860
    CBSA name
    PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN 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
    $6,301
    $160,300
    $280,300
    $440,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $395,000
      2,306 SF

      166 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,306 SF
      166 Main St, Cornish, ME 04020-3236
      View Details
    • Value Estimation
      $260,000
      1,552 SF

      1177 Sokokis Trl

      OFFICE/RESIDENTIAL (MIXED USE) • 1,552 SF
      1177 Sokokis Trl, Cornish, ME 04020-3602
      View Details
    • Value Estimation
      $235,000
      792 SF

      8 Harolds Way

      OFFICE/RESIDENTIAL (MIXED USE) • 792 SF
      8 Harolds Way, Cornish, ME 04020
      View Details
    • Value Estimation
      $665,000
      33,132 SF

      256 Maple St

      OFFICE/RESIDENTIAL (MIXED USE) • 33,132 SF
      256 Maple St, Cornish, ME 04020
      View Details
    • Value Estimation
      $235,000
      3,888 SF

      18 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,888 SF
      18 Main St, Cornish, ME 04020
      View Details
    • Value Estimation
      $335,000
      3,172 SF

      39 Maple St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,172 SF
      39 Maple St, Cornish, ME 04020-3101
      View Details

    Similar Nearby for Sale

    • $383,000
      2,350 SF

      Two-Family Residence with Commercial Zoning

      Charming 1890 two-family residence with commercial zoning in Cornish, Maine.
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    • $339,000
      1,316 SF

      Historic Cornish Village Mixed-Use Property

      Charming 1870s New Englander, ideal for live/work opportunity.
      4 Bridge St, Cornish, ME 04020
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    • $3,600,000
      20,032 SF

      Mixed-Use Retail and Lodging Center

      20,032 SF center with retail, lodging, and development potential.
      185 Main St, Cornish, ME 04020
      View Details
    • $99,900
      3.03 Acres

      Cornish, ME Wooded Homesite

      3-acre wooded homesite in a new Cornish neighborhood.
      Jordan Hts Rd, Cornish, ME 04020
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    • $119,900
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      Cornish, ME Homesite Opportunity

      3+ acre wooded homesite in a planned community.
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      Cornish, ME Homesite Opportunity

      3.51 acre wooded homesite in new neighborhood.
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    124 Main St
    Cornish, ME 04020-3236
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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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