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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Retail properties & Spaces
359 Mile Rd Wells, ME 04090
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US42-0457679
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1980
Construction
FRAME
Total area
3,240 SF
Lot
0.05 ac (2,258 SF)
Zoning code
BB
APN
WLLS M:122 L:37
UPID
US42-0457679
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
-
Boardwalk Arcade Arcade & Gaming Center Family Recreation Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$605k
Comparable Approach
Comparable
$351k
Blend (final)
Blend
$535k
Owner & transaction history
Papas Enterprises LLC · 8 yrs held
Papas Enterprises LLC
since 2017
1 recorded transaction
Zoning & alternative use
BB · Wells, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Wells submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wells 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$655,000
6.5%
$605,000
7%
$560,000
Blend value · Realmo final
$535k
Range $482k – $589k · ±10%
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
$165 / 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
$4,133
Tax year 2023
Assessed value
$693,500
Assessed 2023
Previous assessed
$407,850
+70.0% YoY
Effective rate
0.60%
On assessed value
Assessed land
$574,660
Assessed improvement
$118,840
Applied tax rate
81,475.0000
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
1980
Construction
FRAME
Heating
NONE
Buildings
1
Stories
2
Units
1
Bathrooms
1
Total area
3,240 SF
Lot
0.05 ac (2,258 SF)
Zoning code
BB
APN
WLLS M:122 L:37
UPID
US42-0457679
Jurisdiction
WELLS
Zoning & alternative use
BB · Wells, ME
Zoning BB · permitted uses
BB · Wells, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wells. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1980
Construction
FRAME
Heating
NONE
Stories
2
Buildings
1
Units
1
Bathrooms
1
Lot
0.05 ac
Current owner
From public records · entity-resolved
Papas Enterprises LLC
Entity
Mailing address
3 CARSONS PT DR, SACO, ME 04072-2180
Ownership since
2017
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
Oct 11, 2017
—
Papas Enterprises LLC
Joseph A Ferris JR
Warranty Deed
$340,000 · Newburyport Five Cent
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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