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    Property profile & analytics

    323 W Main St Searsport, ME 04974

    • Commercial real estate
    • 150.00 lot acres
    For Sale
    View listing
    $1,200,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0327624
    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

    • Commercial real estate

    Property Details for 323 W Main St

    Lot size
    150.00 lot acres
    Property type
    Commercial real estate
    APN
    SEAP-000001-000000-000041

    Description

    This exceptional 150-acre commercial property, located at 323 W Main Street in Searsport, Maine (zip code 04974), presents a unique investment opportunity. Zoned res-3, the land boasts a licensed gravel pit, adding significant value to the potential development. The expansive acreage offers numerous possibilities, including the creation of residential home lots. Its advantageous location abuts a well-established subdivision, providing immediate access to existing infrastructure. Enjoy the close proximity to the scenic Moose Point State Park and the Atlantic Ocean. Higher elevation lots offer breathtaking ocean views. This property is ideally suited for builders and developers seeking a large-scale project with substantial potential. The property includes 21+ parking spaces and is identified by APN SEAP-000001-000000-000041. The asking price for this remarkable parcel is $1,200,000. Don't miss this chance to acquire a significant piece of Maine real estate with exceptional development potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Searsport
    County
    Waldo
    State
    Maine
    Longitude
    -68.9424195
    Latitude
    44.4363542

    Comparable in this City

    • $30,000
      0.80 Acres

      Wooded Land Near Searsport Amenities

      Wooded 0.8-acre parcel near beach, shops, and dining.
      395 Mt. Ephriam Rd, Searsport, ME 04974
      View Details
    • $128,000
      1.50 Acres

      Residential Land in Searsport, Maine

      1.5-acre residential land with existing utilities near Searsport Harbor.
      73 Heritage Dr, Searsport, ME 04974
      View Details
    • $49,900
      1.76 Acres

      Residential Land in Searsport, Maine

      Residential land for sale in a well-established Searsport neighborhood.
      41 Sandy Ridge Ln, Searsport, ME 04974
      View Details
    • $1,050,000
      117.00 Acres

      117 Acres on Mt. Ephraim

      Unique 117-acre mountain property with income potential and panoramic views.
      533 Lot 63 Rd, Searsport, ME 04974
      View Details
    • $79,000
      1.39 Acres

      Ocean View Lot in Searsport

      1.39 acre lot with ocean views, close to town.
      343 W Main St, Searsport, ME 04974
      View Details
    • $499,900
      1.37 Acres

      Searsport Commercial Land For Sale

      1.37 acre commercial land parcel in Searsport, Maine.
      173 W Main St, Searsport, ME 04974
      View Details

    Similar Nearby for Sale

    • $30,000
      0.80 Acres

      Wooded Land Near Searsport Amenities

      Wooded 0.8-acre parcel near beach, shops, and dining.
      395 Mt. Ephriam Rd, Searsport, ME 04974
      View Details
    • $128,000
      1.50 Acres

      Residential Land in Searsport, Maine

      1.5-acre residential land with existing utilities near Searsport Harbor.
      73 Heritage Dr, Searsport, ME 04974
      View Details
    • $49,900
      1.76 Acres

      Residential Land in Searsport, Maine

      Residential land for sale in a well-established Searsport neighborhood.
      41 Sandy Ridge Ln, Searsport, ME 04974
      View Details
    • $1,050,000
      117.00 Acres

      117 Acres on Mt. Ephraim

      Unique 117-acre mountain property with income potential and panoramic views.
      533 Lot 63 Rd, Searsport, ME 04974
      View Details
    • $79,000
      1.39 Acres

      Ocean View Lot in Searsport

      1.39 acre lot with ocean views, close to town.
      343 W Main St, Searsport, ME 04974
      View Details
    • $285,000

      Commercial Land on Main Street

      12.5 acre commercial land parcel in Searsport, Maine.
      358 East Main St, Searsport, ME 04974
      View Details
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    323 W Main St
    Searsport, ME 04974
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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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