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    251 Kennedy Memorial Dr Waterville, ME 04901
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    Property profile & analytics

    251 Kennedy Memorial Dr, Waterville, ME 04901

    View on Map
    • Super regional malls
    • 90,966 SF
    • 26.70 lot acres
    For Sale
    $8,400,000
    View Listing →
    10 Acre Outparcel For Sale For Sale
    $8,400,000
    10.00 Acres

    10 Acre Outparcel For Sale

    10 acre outparcel available for sale.

    251 Kennedy Memorial Dr, Waterville, ME 4901
    View Listing
    Property ID
    US42-0256577
    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

    • Shaw's / Bakery / Specialty Food Shop
    • Citizens ATM / Atm
    • FedEx OnSite / Postal Service / Courier Service
    • Shaw's Pharmacy / Pharmacy
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store

    Property Details for 251 Kennedy Memorial Dr

    Year built
    1989
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    26.70 lot acres
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    WAVL M:041 B:102
    APU
    WAVLM041B102

    Description

    This exceptional opportunity presents two vacant pad sites for sale or ground lease at Shaw's Plaza, located at 251 Kennedy Memorial Drive in Waterville, Maine (04901). The property, identified by APN Map 41, Lot 102, is zoned CDRA - Shopping Mall MDL-94 within Kennebec County. These single-tenant sites offer unparalleled visibility and accessibility, situated within a thriving retail center anchored by established businesses including Shaw's Supermarket, Planet Fitness, Flagship Cinemas, Curtain Shop of Maine, Sun Tan City, 90's Nails and Spa, and Applebee's. The plaza boasts ample on-site parking, ensuring convenient access for customers. The location benefits from excellent visibility and easy access from Interstate 95 via Exit 127, providing significant exposure to a large customer base. This is an ideal location for businesses seeking high traffic and a strong retail environment. The total land area is 1 square foot, with further details available upon request. Interested parties should inquire for pricing and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $12,865,000
      COMMERCIAL (GENERAL)
      $9,090,000
      RESTAURANT
      $8,635,000
      RETAIL STORES
      $6,845,000
      AUTO REPAIR, GARAGE
      $6,280,000
      INDUSTRIAL (GENERAL)
      $5,500,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterville
    County
    Kennebec
    State
    Maine
    Longitude
    -69.6648
    Latitude
    44.5456
    CBSA code
    12300
    CBSA name
    AUGUSTA-WATERVILLE, ME MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $188,501
    $2,365,600
    $7,106,800
    $9,472,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,120,000
      10,800 SF

      270 Kennedy Memorial Dr

      REGIONAL SHOPPING CENTER, MALL
      270 Kennedy Memorial Dr, Waterville, ME 04901-4560
      View Details
    • Value Estimation
      $570,000
      8,344 SF

      3 Cushman Rd

      REGIONAL SHOPPING CENTER, MALL
      3 Cushman Rd, Winslow, ME 04901-7263
      View Details
    • Value Estimation
      $13,130,000
      41,308 SF

      10 Kennedy Memorial Dr

      REGIONAL SHOPPING CENTER, MALL
      10 Kennedy Memorial Dr, Waterville, ME 04901
      View Details
    • Value Estimation
      $8,400,000
      92,224 SF

      450 Kennedy Memorial Dr

      REGIONAL SHOPPING CENTER, MALL
      450 Kennedy Memorial Dr, Waterville, ME 04901
      View Details
    • Value Estimation
      $1,605,000
      15,692 SF

      350 Kennedy Memorial Dr

      REGIONAL SHOPPING CENTER, MALL
      350 Kennedy Memorial Dr, Waterville, ME 04901-4593
      View Details
    • Value Estimation
      $1,955,000
      20,131 SF

      2 Waterville Cmns Dr, Unit 18

      REGIONAL SHOPPING CENTER, MALL
      2 Waterville Cmns Dr, Waterville, ME 04901-4900
      View Details

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      2,672 SF

      Renovated Retail Space with Drive-Up

      2,672 SF renovated retail space with drive-up lane.
      295 Kennedy Memorial Dr, Waterville, ME 04901
      View Details
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      Downtown Waterville Retail Space Available

      In-line retail space for lease in Downtown Waterville.
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    • $10 SF/Yr
      1 SF

      Historic Waterville Office Building

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      View Details
    View Listing
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    Waterville, ME 04901
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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.

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