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Property profile & analytics
FOR LEASE
Retail properties & Spaces
42 Main St Freeport, ME 04032
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US42-0313405
For Lease
1 / 2
$17.50 SF/Yr
42 Main St, Freeport, ME 04032
View Listing →
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1982
Construction
FRAME
Total area
16,089 SF
Lot
0.33 ac (14,375 SF)
Zoning code
CM02
APN
FPRT M:11 B:121 L:0 U:0
UPID
US42-0313405
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
-
LOFT Outlet Clothing & Fashion Store
-
The Cosmetics Company Store Cosmetic Store
-
Greater Freeport Chamber of Commerce Business Service Center Advocacy Group
-
Freeport Chamber of Commerce Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.54M
CAP Approach
CAP
$2.59M
Comparable Approach
Comparable
$3.85M
Blend (final)
Blend
$3.20M
Owner & transaction history
42 Main LLC · 3 yrs held
42 Main LLC
since 2022
Last sale
$3.2M
1 recorded transaction
Zoning & alternative use
CM02 · Freeport, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.6M
+19.2%
Office building
$3.1M
+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
$3,650,000
ML approach
$3,540,000
CAP Approach
CAP Return
Estimation
6%
$2,805,000
6.5%
$2,590,000
7%
$2,405,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,050,000
Current use
COMMERCIAL (GENERAL)
$3,635,000
Change: +19% · Conversion: Easy
OFFICE BUILDING
$3,115,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$3.20M
Range $2.88M – $3.52M · ±10% · vs last sale $3.16M (Nov 21 2022)
Last sale anchor
$3.16M
Nov 21 2022
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
$199 / 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
$46,270
Tax year 2023
Assessed value
$3,365,100
Assessed 2023
Previous assessed
$4,800,600
-29.9% YoY
Effective rate
1.37%
On assessed value
Assessed land
$1,884,800
Assessed improvement
$1,480,300
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
For Lease
Year built
1982
Construction
FRAME
Heating
HEAT PUMP
Cooling
YES
Buildings
1
Stories
1
Bathrooms
99
Total area
16,089 SF
Lot
0.33 ac (14,375 SF)
Zoning code
CM02
APN
FPRT M:11 B:121 L:0 U:0
UPID
US42-0313405
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
$3.1M
COMMERCIAL (GENERAL)
Est. value
$3.6M
OFFICE BUILDING
Est. value
$3.1M
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
1982
Construction
FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
1
Bathrooms
99
Lot
0.33 ac
Current owner
From public records · entity-resolved
42 Main LLC
Entity
Mailing address
42 MAIN ST, FREEPORT, ME 04032-1213
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 21, 2022
$3,155,635
42 Main LLC
Shulport LLC
Quit Claim Arm's Length For Ne States
$5,682,250 · Androscoggin 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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