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Property profile & analytics
OFF-MARKET
Estimated value
$1,850,000
Retail properties & Spaces
31 Main St Freeport, ME 04032-1210
Entity Owned
9-yr Hold
Free & Clear
Property ID
US42-0524771
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1850
Construction
FRAME
Total area
8,332 SF
Lot
0.68 ac (29,621 SF)
Zoning code
CM02
APN
FPRT M:11 B:21 L:0 U:0
UPID
US42-0524771
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
-
Freeport Antiques and Heirlooms Showcase Home Decor Store (Bike/Boat/Book/etc) Store
-
Freeport Charter Company Tour Operator Travel Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.85M
CAP Approach
CAP
$1.34M
Comparable Approach
Comparable
$1.12M
Blend (final)
Blend
$1.85M
Owner & transaction history
Time Goes By LLC · 9 yrs held
Time Goes By LLC
since 2016
Last sale
$1.9M
1 recorded transaction
Zoning & alternative use
CM02 · Freeport, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.9M
+19.2%
Office building
$1.6M
+2.2%
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 Freeport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Freeport 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
$1,850,000
ML approach
$1,850,000
CAP Approach
CAP Return
Estimation
6%
$1,450,000
6.5%
$1,340,000
7%
$1,245,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,580,000
Current use
COMMERCIAL (GENERAL)
$1,880,000
Change: +19% · Conversion: Easy
OFFICE BUILDING
$1,615,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$1.85M
Range $1.67M – $2.04M · ±10% · vs last sale $1.85M (Nov 20 2024)
Last sale anchor
$1.85M
Nov 20 2024
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
$222 / 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
$13,474
Tax year 2023
Assessed value
$979,900
Assessed 2023
Previous assessed
$978,800
+0.1% YoY
Effective rate
1.38%
On assessed value
Assessed land
$453,900
Assessed improvement
$526,000
Applied tax rate
26,525.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1850
Construction
FRAME
Heating
HEAT PUMP
Cooling
YES
Buildings
1
Stories
2
Bathrooms
99
Total area
8,332 SF
Lot
0.68 ac (29,621 SF)
Zoning code
CM02
APN
FPRT M:11 B:21 L:0 U:0
UPID
US42-0524771
Jurisdiction
FREEPORT
Zoning & alternative use
CM02 · Freeport, ME
Zoning CM02 · permitted uses
CM02 · Freeport, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Freeport. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.6M
RETAIL STORES Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1850
Construction
FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Buildings
1
Bathrooms
99
Lot
0.68 ac
Current owner
From public records · entity-resolved
Time Goes By LLC
Entity
Free & Clear · 9 yrs held
Mailing address
PO BOX 156, NORTH VASSALBORO, ME 04962-0156
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 8, 2016
—
Time Goes By LLC
31 Main Street Freeport Maine
Warranty Deed
—
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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