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Property profile & analytics
OFF-MARKET
Estimated value
$3,835,000
Showrooms
23 Somersworth Rd North Berwick, ME 03906-6524
Individually Owned
12-yr Hold
~
Est. High Equity
Property ID
US42-0267232
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1900
Construction
BRICK
Total area
20,000 SF
Lot
12.37 ac (538,837 SF)
Zoning code
COMMER
APN
NBER M:017 L:007
UPID
US42-0267232
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
-
Hannaford Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.82M
Comparable Approach
Comparable
$3.93M
Blend (final)
Blend
$3.84M
Owner & transaction history
Merritt P Wick · 12 yrs held
Merritt P Wick
since 2013
2 recorded transactions
Zoning & alternative use
COMMER · North Berwick, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$5.6M
+0.2%
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 North Berwick submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Berwick 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%
$4,140,000
6.5%
$3,820,000
7%
$3,550,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,545,000
Current use
RETAIL STORES
$5,555,000
Change: +0% · Conversion: Easy
Blend value · Realmo final
$3.84M
Range $3.45M – $4.22M · ±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
$192 / 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
$47,304
Tax year 2023
Assessed value
$4,400,400
Assessed 2023
Previous assessed
$3,838,500
+14.6% YoY
Effective rate
1.07%
On assessed value
Assessed land
$1,196,800
Assessed improvement
$3,203,600
Applied tax rate
50,325.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1900
Construction
BRICK
Heating
HOT WATER
Stories
2
Rooms
8
Bathrooms
2
Total area
20,000 SF
Lot
12.37 ac (538,837 SF)
Zoning code
COMMER
APN
NBER M:017 L:007
UPID
US42-0267232
Jurisdiction
NORTH BERWICK
Zoning & alternative use
COMMER · North Berwick, MEZoning COMMER · permitted uses
COMMER · North Berwick, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$5.5M
RETAIL STORES
Est. value
$5.6M
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
1900
Construction
BRICK
Heating
HOT WATER
Stories
2
Rooms
8
Bathrooms
2
Lot
12.37 ac
Current owner
From public records · entity-resolved
Merritt P Wick
Individual
Mailing address
PO BOX 1330, SALISBURY, NC 28145-1330
Ownership since
2013
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 3, 2013
—
Merritt P Wick
—
Deed Of Trust
related
$210,000 · Kennebunk Savings Bank
Oct 28, 2005
—
Merritt P Wick
—
Deed Of Trust
related
$80,000 · Citizens Bank Of Nh
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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