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    3 Union St Kennebunkport, ME 04046
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    Property profile & analytics

    3 Union St Kennebunkport, ME 04046

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    • Retail properties & Spaces
    • 4,064 SF
    • 0.65 lot acres
    For Sale
    $3,499,000
    View Listing →
    Kennebunkport Mixed-Use Investment Opportunity For Sale
    $3,499,000
    6,258 SF

    Kennebunkport Mixed-Use Investment Opportunity

    Prime dock square location with diverse income streams and expansion potential.

    3 Union Street, Kennebunkport, ME 04046
    View Listing
    Property ID
    US42-0537855
    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

    • The Knotty Elephant / (Bike/Boat/Book/etc) Store / Arcade & Gaming Center

    Property Details for 3 Union St

    Year built
    1850
    Construction
    FRAME
    Lot size
    0.65 lot acres
    Property size
    4,064 SF
    Zone code
    DS
    Property type
    Retail properties & Spaces
    APN
    KENP M:11 B:9 L:9
    APU
    KENPM11B9L9

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $825,000
      6.5%
      $760,000
      7%
      $705,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $519,000
      Market price range: $287k - $894k

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

    Location Insight

    • Map
    • Local Demand
    City
    Kennebunkport
    County
    York
    State
    Maine
    Longitude
    -70.4761
    Latitude
    43.361
    CBSA code
    38860
    CBSA name
    PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN 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
    $4,893
    $238,600
    $544,300
    $782,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,617 SF

      208 New Rd

      DEPARTMENT STORE • 1,617 SF
      208 New Rd, Arundel, ME 04046-8767
      View Details
    • Value Estimation by Request
      4,200 SF

      45 Ocean Ave

      DEPARTMENT STORE • 4,200 SF
      45 Ocean Ave, Kennebunkport, ME 04046-6146
      View Details
    • Value Estimation by Request
      1,704 SF

      15 Dock Sq

      DEPARTMENT STORE • 1,704 SF
      15 Dock Sq, Kennebunkport, ME 04046
      View Details
    • Value Estimation by Request
      1,500 SF

      13 Ocean Ave

      DEPARTMENT STORE • 1,500 SF
      13 Ocean Ave, Kennebunkport, ME 04046
      View Details
    • Value Estimation
      $580,000
      2,992 SF

      33 Ocean Ave

      DEPARTMENT STORE • 2,992 SF
      33 Ocean Ave, Kennebunkport, ME 04046
      View Details
    • Value Estimation by Request
      2,068 SF

      93 School St

      DEPARTMENT STORE • 2,068 SF
      93 School St, Kennebunkport, ME 04046
      View Details

    Similar Nearby for Sale

    • $1,625,000
      612 SF

      42 Langsford Rd, Kennebunkport, ME 04046

      Retail properties & Spaces • 612 SF
      42 Langsford Rd, Kennebunkport, ME 04046
      View Details
    • Contact for pricing
      965 SF

      Retail Condo in Dock Square

      Retail condo in Kennebunkport with high foot traffic.
      28-48 Dock Sq, Kennebunkport, ME 04046
      View Details
    • $3,499,000
      6,258 SF

      Kennebunkport Mixed-Use Investment Opportunity

      Prime dock square location with diverse income streams and expansion potential.
      3 Union St, Kennebunkport, ME 04046
      View Details
    • New
      $1,750,000
      10,491 SF

      Unique Kennebunkport Commercial Gem

      Versatile property with event center, garage, and residential space.
      245 Arundel Rd, Kennebunkport, ME 04046
      View Details
    • $749,000
      1.51 Acres

      Kennebunkport Commercial Land Opportunity

      1.51 acre parcel in Kennebunkport's Free Enterprise Zone.
      Venture Way, Kennebunkport, ME 04046
      View Details
    • New
      $610,000
      0.62 Acres

      Kennebunkport Land Near Goose Rocks

      0.62 acre lot in coastal community near Goose Rocks Beach.
      Prospect Reserve Way, Kennebunkport, ME 04046
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Restaurant with Apartments on Route One

      Fully operational restaurant with two apartments on a 2-acre lot.
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      View Details
    • Contact for pricing

      Arundel Business Park Land Opportunity

      Land for sale in thriving business park off Route One.
      Enterprise Dr, Arundel, ME 04046
      View Details
    • Contact for pricing
      2,000 SF

      Flex/Office Building Near Route 1

      Multi-tenanted flex/office building with easy access to I-95.
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      View Details
    View Listing
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    Kennebunkport, ME 04046
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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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    3 Union St, Kennebunkport, ME, 04046
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