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Property profile & analytics
OFF-MARKET
Medical Office Space
2 Wellspring Rd Biddeford, ME 04005-9401
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US42-0491912
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,262 SF
Lot
0.5 ac (21,780 SF)
Zoning code
I3
APN
BIDD M:2 L:47-1
UPID
US42-0491912
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
-
All Smiles Dental Dental Office
-
All Smiles Dental: Garramore Peter J DMD Dental Office
-
Craig Vermette Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Burke Real Estates LLC · 2 yrs held
Burke Real Estates LLC
since 2023
Last sale
$965,000
2 recorded transactions
Zoning & alternative use
I3 · Biddeford, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Is a gateway zone for a major entrance to the City, as such, appearance of structures and properties is a major consideration in the Planning Boards review process, Land use proposals in this area must meet more stringent design and landscaping standards, facades of new or rehabilitated structures shall be of brick or stone, other materials may be considered…
Zone name
Commercial Industrial Zone
General category
INDUSTRIAL
Zone area
404.76 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$7,700
Tax year 2023
Assessed value
$586,900
Assessed 2023
Previous assessed
$586,900
+0.0% YoY
Effective rate
1.31%
On assessed value
Assessed land
$116,700
Assessed improvement
$470,200
Applied tax rate
4,860.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
2
Total area
3,262 SF
Lot
0.5 ac (21,780 SF)
Zoning code
I3
APN
BIDD M:2 L:47-1
UPID
US42-0491912
Jurisdiction
BIDDEFORD
Zoning & alternative use
I3 · Biddeford, MEZoning I3 · permitted uses
I3 · Biddeford, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Is a gateway zone for a major entrance to the City, as such, appearance of structures and properties is a major consideration in the Planning Boards review process, Land use proposals in this area must meet more stringent design and landscaping standards, facades of new or rehabilitated structures shall be of brick or stone, other materials may be considered on a case-by-case basis, residential styled structures may be allowed on a case-by-case basis, The general zone allows a mixture of commercial and industrial uses, Exterior storage and display is prohibited except on those parcels of land that abut Pomerleau Street but do not abut either Barra Road or Alfred street (Route 111)
Zone name
Commercial Industrial Zone
General category
INDUSTRIAL
Zone area
404.76 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
2
Lot
0.5 ac
Current owner
From public records · entity-resolved
Burke Real Estates LLC
Entity
Mailing address
2 WELLSPRING RD, BIDDEFORD, ME 04005-9401
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 26, 2023
$965,000
Burke Real Estates LLC
Peter J Garramore
Quit Claim Arm's Length For Ne States
$723,750 · Saco & Biddeford Savings
Mar 26, 2012
—
Peter J Garramore
All Smiles LLC
Warranty Deed
related
$15,500 · Peoples Bank
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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