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    Property profile & analytics

    48 Commercial St Boothbay Harbor, ME 04538

    • Retail properties
    • 3,352 SF
    • 0.12 lot acres
    For Sale
    View listing
    $1,800,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0392834
    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.

    Current Use by Public Records

    • Kaler's Restaurant / Family Restaurant / Restaurant

    Property Details for 48 Commercial St

    Year built
    1909
    Construction
    FRAME
    Lot size
    0.12 lot acres
    Property size
    3,352 SF
    Property type
    Retail properties
    APN
    BOOH M:015 L:011
    APU
    BOOHM015L011

    Description

    This exceptional Boothbay Harbor property presents a compelling investment opportunity. Located at 48 Commercial Street, this three-story, 9,750 square foot mixed-use building boasts a prime harbor-front location in the heart of the historic downtown. Currently housing three tenants—two retail spaces and one restaurant—operating on a seasonal basis, the property offers a 66% occupancy rate. The building, constructed in 1909, sits on a 0.12-acre lot and includes a dock and float system. The asking price is $1,800,000, translating to $184.62 per square foot. The property is zoned Downtown Commercial A, allowing for both business and residential uses. A significant value-add opportunity exists with the currently undeveloped third floor, presenting potential for expansion of existing businesses or the creation of new residential or commercial units. This unique offering combines established income with substantial upside potential in a highly desirable Maine coastal location. The property's APN is 15/11.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Boothbay Harbor
    County
    Lincoln
    State
    Maine
    Longitude
    -69.6288
    Latitude
    43.8502

    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
    $6,920
    $538,900
    $234,300
    $773,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      292 SF

      206 Townsend Ave

      DEPARTMENT STORE • 292 SF
      206 Townsend Ave, Boothbay Harbor, ME 04538-1838
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      4,301 SF

      26 Wharf St

      DEPARTMENT STORE • 4,301 SF
      26 Wharf St, Boothbay Harbor, ME 04538-1872
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    • Value Estimation by Request
      2,821 SF

      8 Wharf St

      DEPARTMENT STORE • 2,821 SF
      8 Wharf St, Boothbay Harbor, ME 04538-1872
      View Details
    • Value Estimation by Request
      1,350 SF

      44 Commercial St

      DEPARTMENT STORE • 1,350 SF
      44 Commercial St, Boothbay Harbor, ME 04538-1822
      View Details
    • Value Estimation by Request
      1,203 SF

      26 Atlantic Ave

      DEPARTMENT STORE • 1,203 SF
      26 Atlantic Ave, Boothbay Harbor, ME 04538-2127
      View Details
    • Value Estimation by Request
      2,908 SF

      35 Howard St

      NURSERY, GREENHOUSE, FLORIST • 2,908 SF
      35 Howard St, Boothbay Harbor, ME 04538-1819
      View Details

    Similar Nearby for Sale

    • $1,800,000
      9,750 SF

      Boothbay Harbor Commercial Gem

      Prime waterfront location, three tenants, value-add potential.
      48 Commercial St, Boothbay Harbor, ME 04538
      View Details
    • New
      $1,350,000
      2,948 SF

      Boothbay Harbor Restaurant Opportunity

      Turnkey restaurant with harbor views in prime downtown location.
      12 By Way, Boothbay Harbor, ME 04538
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    • New
      $795,000
      3,183 SF

      Iconic Commercial Space in Boothbay

      Prime retail space in the heart of downtown Boothbay Harbor.
      34 Townsend Ave, Boothbay Harbor, ME 04538
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    • $1,400,000
      9,750 SF

      Harbor Front Retail Opportunity

      9,750 SF retail property with harbor access.
      48 Commercial St, Boothbay Harbor, ME 04538
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    • $1,150,000
      5,508 SF

      Historic Building with Business Potential

      Iconic commercial property in downtown Boothbay Harbor with turnkey revenue.
      4 Townsend Ave, Boothbay Harbor, ME 04538
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    • New
      $550,000
      1,570 SF

      Renovated Boothbay Harbor Rental Property

      Versatile, renovated property with rental income potential in Boothbay Harbor.
      43 Oak St, Boothbay Harbor, ME 04538
      View Details
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    48 Commercial St
    Boothbay Harbor, ME 04538
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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.

    More about this property
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