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Property profile & analytics
OFF-MARKET
Estimated value
$645,000
Office buildings
368 Main St South Berwick, ME 03908-1319
Entity Owned
4-yr Hold
Free & Clear
Property ID
US42-0287790
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2005
Construction
CONCRETE
Total area
2,468 SF
Lot
0.17 ac (7,405 SF)
Zoning code
B1 BUS
APN
SBER M:031 B:063 L:A
UPID
US42-0287790
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$665k
Comparable Approach
Comparable
$638k
Blend (final)
Blend
$645k
Owner & transaction history
Pine Street RT LLC · 4 yrs held
Pine Street RT LLC
since 2022
2 recorded transactions
Zoning & alternative use
B1 BUS · South Berwick, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$685,000
+43.5%
Commercial (general)
$685,000
+43.2%
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 South Berwick submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Berwick 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%
$720,000
6.5%
$665,000
7%
$615,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$480,000
Current use
RETAIL STORES
$685,000
Change: +43% · Conversion: Moderate
COMMERCIAL (GENERAL)
$685,000
Change: +43% · Conversion: Easy
Blend value · Realmo final
$645k
Range $581k – $710k · ±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
$261 / 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
$8,104
Tax year 2023
Assessed value
$580,500
Assessed 2023
Previous assessed
$522,400
+11.1% YoY
Effective rate
1.40%
On assessed value
Assessed land
$120,500
Assessed improvement
$460,000
Applied tax rate
70,030.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2005
Construction
CONCRETE
Heating
HOT WATER
Buildings
2
Stories
2
Rooms
10
Bathrooms
2
Total area
2,468 SF
Lot
0.17 ac (7,405 SF)
Zoning code
B1 BUS
APN
SBER M:031 B:063 L:A
UPID
US42-0287790
Jurisdiction
SOUTH BERWICK
Zoning & alternative use
B1 BUS · South Berwick, MEZoning B1 BUS · permitted uses
B1 BUS · South Berwick, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$480,000
RETAIL STORES
Est. value
$685,000
COMMERCIAL (GENERAL)
Est. value
$685,000
OFFICE BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
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
2005
Construction
CONCRETE
Heating
HOT WATER
Stories
2
Buildings
2
Rooms
10
Bathrooms
2
Lot
0.17 ac
Current owner
From public records · entity-resolved
Pine Street RT LLC
Entity
Free & Clear · 4 yrs held
Mailing address
64 PAUL ST, SOUTH BERWICK, ME 03908-1218
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2022
—
Pine Street RT LLC
Michael W Lassel
Warranty Deed
—
Jan 7, 2005
—
Rena M Lassel
—
Deed Of Trust
related
$395,000 · Kennebunk Savings Bank
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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