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    248 Northport Ave Belfast, ME 04915
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    248 Northport Ave, Belfast, ME 04915

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    • Commercial real estate
    • 64,380 SF
    • 7.30 lot acres
    For Sale
    $3,250,000
    View Listing →
    Versatile Commercial Property in Belfast For Sale
    $3,250,000
    64,380 SF

    Versatile Commercial Property in Belfast

    Multi-tenant commercial property with warehouse, industrial, and office space.

    248 Northport Avenue, Belfast, ME 04915
    View Listing
    Property ID
    US42-0507515
    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

    • Commercial real estate

    Property Details for 248 Northport Ave

    Year built
    1976
    Lot size
    7.30 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 64,380+/- square foot commercial and industrial building presents a remarkable investment opportunity in the vibrant Midcoast Maine town of Belfast. Strategically located on Route 1, this property boasts high visibility and convenient access for both customers and employees. Currently housing over ten diverse tenants, the building offers a stable and diversified income stream with readily available spaces for lease. The existing tenant mix creates a thriving business ecosystem, attracting new businesses seeking a collaborative environment. Available spaces are ideal for owner-occupancy, allowing for on-site management while generating additional rental income. The building features a variety of spaces with ceiling heights ranging from 16 to 40 feet, catering to diverse business needs. Amenities include commercial kitchens, office spaces, conference rooms, server rooms, and ample warehouse space. The 7.3-acre lot provides ample parking and potential for future expansion. Belfast's supportive business environment and thriving local economy make this property an attractive investment for both entrepreneurs and established businesses. This is a rare opportunity to acquire a substantial commercial property in a rapidly growing community with excellent infrastructure and high visibility. The property's multi-tenant occupancy provides a built-in revenue stream and a strong foundation for future growth. Don't miss this chance to own a piece of Belfast's thriving business landscape.

    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
    Belfast
    County
    Waldo
    State
    Maine
    Longitude
    -68.98618
    Latitude
    44.40036

    Comparable in this City

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      Belfast Commercial Office Space

      High-visibility Route 1 office, ample parking.
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      Prime Commercial Land on Route 1

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      Belfast Waterfront Land For Sale

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      Swanville Land with Septic System

      Private 2.94-acre lot with septic, leach, and driveway.
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      1.15 Acres

      Belfast Land Near Waterfront

      Economical 1.15 acre lot near downtown Belfast waterfront.
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      7,000 SF

      Waterfront Mixed-Use Property in Belfast

      Prime waterfront property with restaurant and dispensary tenants in Belfast.
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    Similar Nearby for Sale

    • $595,000
      3,051 SF

      Belfast Commercial Office Space

      High-visibility Route 1 office, ample parking.
      189 Northport Ave, Belfast, ME 04915
      View Details
    • $775,000
      2.00 Acres

      Prime Commercial Land on Route 1

      High-visibility commercial property on a busy route with flexible zoning.
      2 Swan Lake Ave, Belfast, ME 04915
      View Details
    • $495,000
      3.59 Acres

      Belfast Waterfront Land For Sale

      3.5-acre waterfront property with panoramic harbor views in Belfast, Maine.
      Robbins Rd, Belfast, ME 04915
      View Details
    • $99,000
      2.94 Acres

      Swanville Land with Septic System

      Private 2.94-acre lot with septic, leach, and driveway.
      1651 Swan Lake Ave, Swanville, ME 04915
      View Details
    • Contact for pricing
      1.15 Acres

      Belfast Land Near Waterfront

      Economical 1.15 acre lot near downtown Belfast waterfront.
      99 Waterville Rd, Belfast, ME 04915
      View Details
    • Contact for pricing
      7,000 SF

      Waterfront Mixed-Use Property in Belfast

      Prime waterfront property with restaurant and dispensary tenants in Belfast.
      Unknown, Belfast, ME 04915
      View Details
    View Listing
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    Belfast, ME 04915
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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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