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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    225 Aroostook Ave Millinocket, ME 04462

    • Commercial real estate
    • 8,369 SF
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0496480
    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

    • Katahdin True Value / Home Improvement Store / Key Duplication Service
    • Levasseur True Value Hardware & Building Supply / Home Improvement Store / Garden Center

    Property Details for 225 Aroostook Ave

    Lot size
    0.16 lot acres
    Property size
    8,369 SF
    Property type
    Commercial real estate

    Description

    This exceptional 8,369 square foot commercial property is situated in the heart of downtown Millinocket, Maine. The building, formerly a hardware store, offers a versatile layout suitable for a wide range of businesses. The spacious ground floor is ideal for retail, office, or mixed-use operations, benefiting from high visibility and significant foot traffic in a bustling commercial district. Extensive storage space is available, adaptable for inventory, equipment, or additional workspace. The property boasts modern utilities and updated wiring, ensuring a comfortable and efficient environment. Convenient on-street parking and easy access to major roads add to its appeal. Located near local amenities, this property presents a unique opportunity for businesses seeking a prominent presence in a thriving community. The sale includes a non-compete clause related to the previous hardware store operation. The 0.16-acre lot provides ample space for operations and potential future expansion. This is a chance to establish or expand your business in a revitalizing downtown area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Millinocket
    County
    Penobscot
    State
    Maine
    Longitude
    -68.70779
    Latitude
    45.65644

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      Vacant 0.31-acre lot with utilities in downtown Millinocket, Maine.
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    Similar Nearby for Sale

    • $179,900
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      Millinocket Commercial Lot - Prime Location

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      View Details
    • $189,900
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      Millinocket Commercial Land - Prime Location

      Downtown lot, ready to build, owner financing possible.
      75 Penobscot Ave, Millinocket, ME 04462
      View Details
    • $129,900
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      Millinocket Land with Development Potential

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      6 Forest Ave, Millinocket, ME 04462
      View Details
    • $179,900
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      Vacant Lot on Main Street

      Vacant 0.31-acre lot with utilities in downtown Millinocket, Maine.
      75 Penobscot Ave, Millinocket, ME 04462
      View Details
    • $1,499,999
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      32-Unit Multifamily Investment Opportunity

      32 units in five buildings, Millinocket, Maine. Expansion potential.
      97 Penobscot Ave, Millinocket, ME 04462
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      Millinocket Commercial Property For Sale

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    Property Visit Statistics

    • Visits by month
      2.5k
    • Visitors by month
      1.9k
    • Avg Time on site
      21 min
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    225 Aroostook Ave
    Millinocket, ME 04462
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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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