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    3 Main St Belfast, ME 04915
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    3 Main St Belfast, ME 04915

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    • Conventional restaurants
    • 7,000 SF
    For Sale
    $1,800,000
    View Listing →
    Waterfront Mixed-Use Property in Belfast For Sale
    $1,800,000
    7,000 SF

    Waterfront Mixed-Use Property in Belfast

    Prime waterfront property with restaurant and dispensary tenants in Belfast.

    3 Main Street, Belfast, ME 4915
    View Listing
    Property ID
    US42-0228874
    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

    • Conventional restaurants

    Property Details for 3 Main St

    Year built
    1940
    Property size
    7,000 SF
    Property type
    Conventional restaurants
    Property subtype
    Retail space

    Description

    This prime waterfront property is literally the last stop before the harbor, in downtown Belfast. Property abuts the City of Belfast Public Landing. This property offers 98+/-' waterfront directly in front of the building, next to the City slips and Fournier Tugs. Slip your vessel in front and wal ... k up to what is now a restaurant. Does this remind you of San Diego and Key West Yacht Clubs? This building boasts over 7,000 sq. ft, city utilities, and 14 parking spaces. The anchor tenant is currently Nautilus Restaurant; the floorplan has worked as a restaurant for many decades. The recent remodel of the rear and partial 2nd floor expansion, offers a new dispensary with elevator and stair access. There are currently two tenants, businesses are not included in this offering. City utilities. Further expansion is possible on the 2nd floor which is easily accessible (included in the estimated square footage.) You can only imagine the views across the harbor and out to the ocean. Penobscot Bay boasts some of the best sailing in the North Atlantic. There may never be an opportunity offered such as this in your lifetime. As our friend Paul used to say, If not now, when? Waterfront Mixed Use Zoning. Real estate only. Businesses not included. Call for details. Rare Offering, Inquire Today

    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
    -69.0045983
    Latitude
    44.4288

    Comparable in this City

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      Prime Waterfront Mixed-Use Property

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      Prime Belfast Restaurant Opportunity

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    Similar Nearby for Sale

    • $1,800,000
      7,000 SF

      Prime Waterfront Mixed-Use Property

      Waterfront mixed-use property in downtown Belfast with restaurant and dispensary.
      3 Main St, Belfast, ME 04915
      View Details
    • New
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      Historic Belfast Commercial Building

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      Historic Belfast Commercial Building

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      93 Main St, Belfast, ME 04915
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    • $2,300,000

      Prime Belfast Restaurant Opportunity

      Established restaurant space in vibrant downtown Belfast with bay views.
      30 Main St, Belfast, ME 04915
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      Versatile Commercial Building on Route 1

      3,000 sq ft commercial building with mixed-use zoning.
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      View Details
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      Belfast Mixed-Use Commercial Building

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      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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