Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    31 Western Ave Augusta, ME 04330-7322

    • Office buildings
    • 2,208 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $270,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0902242
    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.

    Current Use by Public Records

    • Hoang Realty / Real Estate Agency

    Property Details for 31 Western Ave

    Year built
    1980
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.23 lot acres
    Property size
    2,208 SF
    Property type
    Office buildings
    APN
    AUGU M:00027 B:00070 L:00000
    APU
    AUGUM00027B00070L00000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $300,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $246,000
      Market price range: $115k - $247k
      AI Estimate
      $248,000
      Market price range: $81.4k - $248k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $185,000
      Current use
      RETAIL STORES
      $185,000
      Change: -1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Augusta
    County
    Kennebec
    State
    Maine
    Longitude
    -69.7827
    Latitude
    44.3114
    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
    $8,975
    $194,100
    $196,800
    $390,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $840,000
      30,168 SF

      2 Anthony Ave

      OFFICE BUILDING • 30,168 SF
      2 Anthony Ave, Augusta, ME 04330-9426
      View Details
    • Value Estimation
      $430,000
      11,475 SF

      160 Capitol St

      OFFICE BUILDING • 11,475 SF
      160 Capitol St, Augusta, ME 04330-6835
      View Details
    • Value Estimation
      $915,000
      9,540 SF

      125 Community Dr

      OFFICE BUILDING • 9,540 SF
      125 Community Dr, Augusta, ME 04330-8156
      View Details
    • Value Estimation
      $380,000
      8,564 SF

      841 Riverside Dr

      OFFICE BUILDING • 8,564 SF
      841 Riverside Dr, Augusta, ME 04330-8302
      View Details
    • Value Estimation
      $280,000
      3,072 SF

      26 Ganneston Dr

      OFFICE BUILDING • 3,072 SF
      26 Ganneston Dr, Augusta, ME 04330-6243
      View Details
    • Value Estimation
      $325,000
      1,680 SF

      1 Higgins St

      OFFICE BUILDING • 1,680 SF
      1 Higgins St, Augusta, ME 04330-6312
      View Details

    Similar Nearby for Sale

    • $390,000
      5,076 SF

      Classic Federal House in Augusta

      Commercially zoned property near downtown Augusta with potential options.
      8 Crosby Street Pl, Augusta, ME 04330
      View Details
    • $299,000
      5,725 SF

      Historic Queen Anne Office Building

      Historic Augusta office building with versatile potential and prominent location.
      16 East Chestnut St, Augusta, ME 04330
      View Details
    • $1,750,000
      22,286 SF

      Two-Building Office Investment Opportunity

      Two-building office investment with strong tenants and upside potential.
      323-331 State St, Augusta, ME 04330
      View Details
    • $3,250,000
      14,000 SF

      Augusta Office Building For Sale

      28,000 SF office building in central Maine for sale.
      249 Western Ave, Augusta, ME 04330
      View Details
    • $1,750,000
      13,446 SF

      Prime Augusta Office Building Investment

      First-class commercial office building with long-term tenants and high visibility.
      5 Community Dr, Augusta, ME 04330
      View Details
    • $425,000
      6,868 SF

      Augusta Office Building - Great Investment

      Prime Augusta location, 13 offices, strong rental income.
      74 Winthrop St, Augusta, ME 04330
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      3,500 SF

      Single-Floor Office Building For Lease

      Single-floor office building for lease in Augusta, Maine.
      28 Meadow Rd, Augusta, ME 04330
      View Details
    • $10 SF/Yr
      32,000 SF

      Prime Augusta Creative Office Space

      32,000 SF Creative Office in Augusta, ME
      36 Anthony Ave, Augusta, ME 04330
      View Details
    • $17 SF/Yr
      15,328 SF

      Class A Office Space Available

      Prime Augusta location, 3,500 SF, ample parking.
      151 Capitol St, Augusta, ME 04330
      View Details
    • $12 SF/Yr
      76,510 SF

      Downtown Augusta Executive Suites

      Class A Office & Retail Space Available
      286 Water St, Augusta, ME 04330
      View Details
    • Contact for pricing
      1,350 SF

      Class A Office Space Available

      Class A office space for lease in Augusta, Maine.
      45 Memorial Cir, Augusta, ME 04330
      View Details
    • $15 SF/Yr
      3,216 SF

      Downtown Augusta Office Space

      Professional office space in downtown Augusta with flexible layouts.
      49 Oak St, Augusta, ME 04330
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    31 Western Ave
    Augusta, ME 04330-7322
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.