Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    48 Bowen Rd Kittery, ME 03904-1301
    Back to Search
    Property profile & analytics

    48 Bowen Rd, Kittery, ME 03904-1301

    View on Map
    • Commercial real estate
    • 2,788 SF
    • 0.90 lot acres
    Off-Market
    Last Sale May 4, 2022
    $2,000,000
    Property ID
    US42-0575641
    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
    $2,060,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Safe Harbor Kittery Point / Marina / Boat Repair Shop
    • Kittery Point Yacht Yard / (Bike/Boat/Book/etc) Store

    Property Details for 48 Bowen Rd

    Year built
    1975
    Construction
    FRAME
    Lot size
    0.90 lot acres
    Zone code
    R-U
    Property type
    Commercial real estate
    APN
    KITT M:017 L:010
    APU
    KITTM017L010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 4, 2022 $2,000,000 Shm Kittery Point LLC Mgx LLC Warranty Deed —
    Jun 27, 2012 — Mgx LLC — Deed Of Trust · related $1M · Kennebunk Savings Bank
    Oct 2, 2007 — Mgx 2 LLC — Deed Of Trust · related $975k · Kennebunk Savings Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,550,000
      ML approach
      $2,505,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,245,000
      Market price range: $351k - $1.25M

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

    Location Insight

    • Map
    • Local Demand
    City
    Kittery
    County
    York
    State
    Maine
    Longitude
    -70.7226
    Latitude
    43.0831
    CBSA code
    38860
    CBSA name
    PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $20,318
    $1,063,900
    $429,000
    $1,492,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $7,300,000
      72,765 SF

      91 Rte 236

      COMMERCIAL (GENERAL)
      91 Rte 236, Kittery, ME 03904-5530
      View Details
    • Value Estimation by Request
      960 SF

      118 Blackberry Pl

      COMMERCIAL (GENERAL)
      118 Blackberry Pl, Kittery, ME 03904
      View Details
    • Value Estimation
      $600,000
      4,871 SF

      484 Us Rte 1st 1

      COMMERCIAL (GENERAL)
      484 Us Rte 1st 1, Kittery, ME 03904-5507
      View Details
    • Value Estimation by Request
      692 SF

      3 Is Ave Ste, Unit 9

      COMMERCIAL CONDOMINUIM
      3 Is Ave Ste, Kittery, ME 03904-1680
      View Details
    • Value Estimation by Request
      19.91 Acres

      173 Haley Rd

      COMMERCIAL (GENERAL)
      173 Haley Rd, Kittery, ME 03904-5408
      View Details
    • Value Estimation
      $1,890,000
      13,030 SF

      19 Ranger Dr

      SHOW ROOM, WAREHOUSE
      19 Ranger Dr, Kittery, ME 03904-1055
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      113,353 SF

      Kittery Manufacturing and Warehouse Space

      113,353 SF manufacturing/warehouse on 27 acres near I-95.
      9 Cutts Rd, Kittery, ME 03904
      View Details
    • $825,000
      1,757 SF

      Retail Location in Kittery, ME

      Excellent retail location with Route 1 access and mixed-use zoning.
      429 Us-1, Kittery, ME 03904
      View Details
    • Contact for pricing

      Route 236 Redevelopment Opportunity

      6.89-acre site on Route 236 in Kittery, Maine.
      60-62 Route 236, Kittery, ME 03904
      View Details
    • Contact for pricing
      2,208 SF

      Mixed-Use Property on US Route 1

      Mixed-use property with high traffic count and ample parking.
      424 Us Route 1, Kittery, ME 03904
      View Details
    • $99,000
      5,662 SF

      Commercial Land in High-Traffic Location

      Prime commercial land with high visibility and easy highway access.
      197 State Rd, Kittery, ME 03904
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      275 US Route One

      Land
      275 Us Route 1, Kittery, ME 03904
      View Details
    • Contact for pricing

      Retail Space in Kittery, Maine

      Retail space available in Kittery, Maine, near popular beaches.
      283 Us Route 1, Kittery, ME 03904
      View Details
    • Contact for pricing
      6,650 SF

      Redevelopment Ground Lease Opportunity

      Ground lease opportunity near I-95 and Kittery Outlets.
      103 Us Route 1 Byp, Kittery, ME 03904
      View Details
    • Contact for pricing
      2,349 SF

      Waterfront Multi-Use Property Opportunity

      Multi-use property with commercial and apartment units in Kittery.
      60 Wallingford Sq, Kittery, ME 03904
      View Details
    • Contact for pricing
      1,900 SF

      Retail Space in Kittery, Maine

      Retail space available in a dominant retail corridor.
      360 Us-1, Kittery, ME 03904
      View Details
    • Contact for pricing

      Kittery Retail Space on Route 1

      Retail units available in established Kittery retail corridor.
      283 Us Route 1, Kittery, ME 03904
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    48 Bowen Rd
    Kittery, ME 03904-1301
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    48 Bowen Rd, Kittery, ME, 03904
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!