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    186 Main St Freeport, ME 04032
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    Property profile & analytics

    186 Main St Freeport, ME 04032

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    • Commercial real estate
    • 5,597 SF
    Off-Market
    Property ID
    US42-0341752
    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

    • The Village Inn / Hotel & Motel / Bed & Breakfast

    Property Details for 186 Main St

    Property size
    5,597 SF
    Property type
    Commercial real estate

    Description

    This exceptional mixed-use property at 186 Main Street in Freeport, Maine, presents a compelling redevelopment or development opportunity. The 5,597 square foot building sits on a 1.26-acre lot and is ideally situated for a variety of uses. Previously operating as a bed and breakfast and inn, the main structure boasts spacious living quarters, a sizable gathering/dining area, and a fully equipped commercial kitchen. The rear building features guest rooms across three levels. The property's versatile layout and substantial square footage offer significant potential for adaptive reuse or new construction. Its prime location on Main Street in Freeport places it within walking distance of major shopping destinations and less than a minute from I-295, ensuring excellent visibility and accessibility. Subject to town ordinances and necessary approvals, the expansive lot allows for the development of additional opportunities, making this a truly unique investment prospect. The asking price is $795,000, translating to $142.04 per square foot. This property is ready for an investor with a vision to capitalize on its considerable potential in a thriving Maine community. The zip code is 04032, and the property is located in Cumberland County.

    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
    Freeport
    County
    Cumberland
    State
    Maine
    Longitude
    -70.1000042
    Latitude
    43.8622845

    Comparable in this City

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      Secluded Freeport Land Parcel

      Rare 20-acre wooded parcel near Freeport's amenities.
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    Similar Nearby for Sale

    • $750,000
      3,718 SF

      Freeport Mixed-Use Property For Sale

      Versatile property with business potential in a prime location.
      10 Durham Rd, Freeport, ME 04032
      View Details
    • New
      $395,000
      3.50 Acres

      Secluded Freeport Land Opportunity

      3.5-acre sanctuary bordering conservation land in Freeport's Flying Point.
      108B Flying Point Rd, Freeport, ME 04032
      View Details
    • New
      $480,000
      3.55 Acres

      Private Freeport Land Near Amenities

      Secluded 3.55-acre land near amenities and natural attractions.
      38 Kings Timber Way, Freeport, ME 04032
      View Details
    • $320,000
      20.00 Acres

      Secluded Freeport Land Parcel

      Rare 20-acre wooded parcel near Freeport's amenities.
      42A Wardtown Rd, Freeport, ME 04032
      View Details
    • Contact for pricing
      5,439 SF

      Freeport Inn with Owner's Residence

      Turnkey 7-room B&B with separate 3-bedroom owner's home.
      11 Holbrook St, Freeport, ME 04032
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      Commercial Land Ready for Development

      Two commercial lots for immediate development with utilities in place.
      56 Durham Rd, Freeport, ME 04032
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    Similar Nearby for Lease

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      Route One Office Space Available

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      Move-in Ready Freeport Office Space

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      Freeport Office Space For Rent

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      Retail Space Near L.L. Bean

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    186 Main St
    Freeport, ME 04032
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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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    186 Main St, Freeport, ME, 04032
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