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Property profile & analytics
OFF-MARKET
Estimated value
$16,235,000
Commercial real estate
2 Main St Biddeford, ME 04005-2041
Individually Owned
Absentee Owner
Free & Clear
Property ID
US42-0076097
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1873
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
108,730 SF
Lot
0.52 ac (22,651 SF)
Zoning code
MSRD3
APN
BIDD M:71 L:11-2
UPID
US42-0076097
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Heartwood College of Art College
-
Engineered Drafting and Design, LLC Steelwork Design Service Drafting Service
-
STEAMfruit IT Consulting Firm
-
Kymara Skin Artistry Skin Care Clinic
-
Joseph Mekonis Law Office Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$20.78M
Comparable Approach
Comparable
$16.72M
Blend (final)
Blend
$16.24M
Owner & transaction history
PEPPERELL MILL PROGRESSN · 1 yrs held
PEPPERELL MILL PROGRESSN
since 2025
1 recorded transaction
Zoning & alternative use
MSRD3 · Biddeford, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$22.7M
+46.3%
Office building
$21.1M
+35.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Biddeford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Biddeford submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$22,505,000
6.5%
$20,775,000
7%
$19,290,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$15,490,000
Current use
RESTAURANT
$22,665,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$21,050,000
Change: +36% · Conversion: Easy
Blend value · Realmo final
$16.24M
Range $14.61M – $17.86M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$149 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$122,984
Tax year 2023
Assessed value
$9,373,800
Assessed 2023
Previous assessed
$9,845,100
-4.8% YoY
Effective rate
1.31%
On assessed value
Assessed land
$181,500
Assessed improvement
$9,192,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1873
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
1
Stories
5
Total area
108,730 SF
Lot
0.52 ac (22,651 SF)
Zoning code
MSRD3
APN
BIDD M:71 L:11-2
UPID
US42-0076097
Jurisdiction
BIDDEFORD
Zoning & alternative use
MSRD3 · Biddeford, ME
Zoning MSRD3 · permitted uses
MSRD3 · Biddeford, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Biddeford. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$15.5M
RESTAURANT
Est. value
$22.7M
OFFICE BUILDING
Est. value
$21.1M
COMMERCIAL (GENERAL) Current
RESTAURANT
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1873
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
5
Buildings
1
Lot
0.52 ac
Current owner
From public records · entity-resolved
PEPPERELL MILL PROGRESSN
Individual
Free & Clear · 1 yrs held
Mailing address
3100 MCKINNON ST STE #250, DALLAS, TX 75201-1112
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 23, 2025
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Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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