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    43 Owens St Bingham, ME 04920
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    43 Owens St, Bingham, ME 04920

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    • Retirement homes
    • 10,000 SF
    For Sale
    $209,000
    View Listing →
    Spacious Residential Facility in Bingham For Sale
    $209,000
    10,404 SF

    Spacious Residential Facility in Bingham

    10,000 SF facility with 18 bedrooms in Bingham, ME.

    43 Owens Street, Bingham, ME 04920
    View Listing
    Property ID
    US42-0477807
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retirement homes

    Property Details for 43 Owens St

    Year built
    1974
    Property type
    Retirement homes

    Description

    This exceptional 10,000 square foot mixed-use property in Bingham, Maine, presents a remarkable investment opportunity. Formerly a nursing home, the main building boasts 18 bedrooms adaptable for various uses, including offices, residential units, or classrooms. A large cafeteria, industrial kitchen, lounge, administrative offices, hair salon, and ample storage are included, along with industrial washers and dryers. The property benefits from a 2017 HWBB heating system, four heat pumps, a sprinkler system, hard-wired smoke alarms, high-speed internet, a backup generator, and two 1,000-gallon propane tanks. Two detached office buildings offer additional space. Situated on 1.31 acres with over 25 parking spaces, this turnkey property offers significant expansion potential. Located at 43 Owens St, Bingham, ME 04920, this 1974-built building is priced at $599,000, or $59.90 per square foot. The property's versatility and existing infrastructure make it ideal for a wide range of commercial ventures. The ample parking and expansive land provide room for future growth and development. This is a rare opportunity to acquire a substantial property in a desirable Maine location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bingham
    County
    Somerset
    State
    Maine
    Longitude
    -69.878515227861
    Latitude
    45.054597749231

    Comparable in this City

    • $209,000
      10,404 SF

      Spacious Residential Facility in Bingham

      10,000 SF facility with 18 bedrooms in Bingham, ME.
      43 Owens St, Bingham, ME 04920
      View Details
    • Contact for pricing
      24,940 SF

      Industrial Warehouse Space on Rt 201

      24,940 SF industrial property on a major thoroughfare.
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      Land For Sale in Moscow

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      Mixed-Use Retail and Apartments

      Six-unit mixed-use property with two retail storefronts and multiple apartments in downtown Bingham, Maine.
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      Bingham Commercial Property - Huge Potential

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    Similar Nearby for Sale

    • $209,000
      10,404 SF

      Spacious Residential Facility in Bingham

      10,000 SF facility with 18 bedrooms in Bingham, ME.
      43 Owens St, Bingham, ME 04920
      View Details
    • Contact for pricing
      24,940 SF

      Industrial Warehouse Space on Rt 201

      24,940 SF industrial property on a major thoroughfare.
      399 Main St, Bingham, ME 04920
      View Details
    • New
      $59,000
      4.48 Acres

      Bingham, ME Commercial/Residential Land

      4.5-acre parcel with high visibility and development potential.
      201 Lot 1 & 2, Bingham, ME 04920
      View Details
    • $59,999

      Land For Sale in Moscow

      Land available in Somerset County, Moscow, Maine.
      0000 Stream Rd, Moscow, ME 04920
      View Details
    • New
      $80,000
      6,000 SF

      Mixed-Use Retail and Apartments

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      View Details
    • $599,000
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      Bingham Commercial Property - Huge Potential

      10,000 sq ft, 18 rooms, 1.31 acres
      43 Owens St, Bingham, ME 04920
      View Details
    View Listing
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    Bingham, ME 04920
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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.

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