Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1298 Alfred Rd Arundel, ME 04046-8902
    Back to Search
    Property profile & analytics

    1298 Alfred Rd Arundel, ME 04046-8902

    View on Map
    • Banks
    • 3,282 SF
    • 2.60 lot acres
    Off-Market
    Last Sale Apr 17, 2025
    $460,000
    Property ID
    US42-0519053
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Banks

    Property Details for 1298 Alfred Rd

    Year built
    1994
    Construction
    FRAME
    Lot size
    2.60 lot acres
    Property size
    3,282 SF
    Property type
    Banks
    APN
    ARUN M:020 L:006
    APU
    ARUNM020L006

    Description

    This exceptional commercial property, located at 1298 Alfred Road in Arundel, Maine, presents a unique investment opportunity. The building offers 3,282 square feet of versatile space, ideal for a variety of office or retail uses. Its flexible layout allows for customization to suit diverse business needs. The property sits on a generous 2.6-acre lot, providing ample space for expansion, parking, or outdoor activities. A significant advantage is the inclusion of a stand-alone ATM, currently generating over 1,500 transactions monthly. The seller is offering a 5-year leaseback on this ATM, providing immediate and consistent rental income. This leaseback arrangement offers a secure return on investment while allowing the buyer time to develop their own business within the property. The property's location in Arundel offers excellent visibility and accessibility, making it an attractive proposition for businesses seeking a strong foothold in a thriving community. The asking price for this exceptional commercial property is $450,000. Detailed financial information regarding the ATM leaseback is available upon request. This is a rare opportunity to acquire a well-situated commercial property with a built-in income stream. Don't miss out on this chance to own a piece of Arundel's commercial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Arundel
    County
    York
    State
    Maine
    Longitude
    -70.5856
    Latitude
    43.4791
    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
    $8,293
    $77,300
    $410,500
    $487,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,228 SF

      3 Elm St

      FINANCIAL BUILDING • 2,228 SF
      3 Elm St, Kennebunkport, ME 04046-6157
      View Details
    • Value Estimation
      $565,000
      5,000 SF

      9 Heavy Hammer Ln

      SHOW ROOM, WAREHOUSE • 5,000 SF
      9 Heavy Hammer Ln, Arundel, ME 04046-8804
      View Details
    • Value Estimation by Request
      4,308 SF

      21 Dmr Rd

      SHOW ROOM, WAREHOUSE • 4,308 SF
      21 Dmr Rd, Arundel, ME 04046
      View Details
    • Value Estimation
      $665,000
      4,416 SF

      19 Coopers Trl

      SHOW ROOM, WAREHOUSE • 4,416 SF
      19 Coopers Trl, Arundel, ME 04046-8170
      View Details
    • Value Estimation by Request
      2,400 SF

      23 Enterprise Dr

      SHOW ROOM, WAREHOUSE • 2,400 SF
      23 Enterprise Dr, Kennebunkport, ME 04046
      View Details
    • Value Estimation by Request
      4,251 SF

      2581 Portland Rd

      SHOW ROOM, WAREHOUSE • 4,251 SF
      2581 Portland Rd, Arundel, ME 04046-7949
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      965 SF

      Retail Condo in Dock Square

      Retail condo in Kennebunkport with high foot traffic.
      28-48 Dock Sq, Kennebunkport, ME 04046
      View Details
    • $1,625,000
      612 SF

      42 Langsford Rd, Kennebunkport, ME 04046

      Retail properties & Spaces • 612 SF
      42 Langsford Rd, 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
    • $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
    • $749,000
      1.51 Acres

      Kennebunkport Commercial Land Opportunity

      1.51 acre parcel in Kennebunkport's Free Enterprise Zone.
      Venture Way, Kennebunkport, ME 04046
      View Details
    • New
      $610,000
      0.62 Acres

      Kennebunkport Land Near Goose Rocks

      0.62 acre lot in coastal community near Goose Rocks Beach.
      Prospect Reserve Way, Kennebunkport, ME 04046
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Restaurant with Apartments on Route One

      Fully operational restaurant with two apartments on a 2-acre lot.
      1200 Portland Rd, Arundel, ME 04046
      View Details
    • Contact for pricing

      Arundel Business Park Land Opportunity

      Land for sale in thriving business park off Route One.
      Enterprise Dr, Arundel, ME 04046
      View Details
    • Contact for pricing
      2,000 SF

      Flex/Office Building Near Route 1

      Multi-tenanted flex/office building with easy access to I-95.
      39 Limerick Rd, Arundel, 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.
    1298 Alfred Rd
    Arundel, ME 04046-8902
    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
    1298 Alfred Rd, Arundel, 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!