Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    48 Water St Skowhegan, ME 04976

    • Retail properties
    • 10,665 SF
    • 0.19 lot acres
    For Sale
    View listing
    $499,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0099655
    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

    • Lynette's Cards & Gifts / (Bike/Boat/Book/etc) Store
    • Hilltop Antiques / Home Decor Store / (Bike/Boat/Book/etc) Store

    Property Details for 48 Water St

    Year built
    1907
    Lot size
    0.19 lot acres
    Property size
    10,665 SF
    Property type
    Retail properties
    APN
    SKOW M:26 B:125
    APU
    SKOWM26B125

    Description

    This stunning 16,020 square foot, three-level commercial building at 48 Water Street in Skowhegan, Maine, presents a unique investment opportunity. Built in 1908, this Colonial Revival brick structure is a prominent landmark in the heart of Skowhegan's vibrant downtown, situated along the Kennebec River. The building currently houses a thriving multi-room antiques market and gift shop, benefiting from high visibility and foot traffic in this pedestrian-friendly area. Features include a public elevator, ample public and private parking, and excellent road frontage. The property sits on a 0.19-acre lot. The building's potential extends beyond its current use

    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
    Skowhegan
    County
    Somerset
    State
    Maine
    Longitude
    -69.7192
    Latitude
    44.7654

    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
    $3,165
    $37,500
    $141,100
    $178,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,691 SF

      25 Factory St

      DEPARTMENT STORE • 1,691 SF
      25 Factory St, Skowhegan, ME 04976-1446
      View Details
    • Value Estimation
      $2,110,000
      2,760 SF

      65 Madison Ave

      DEPARTMENT STORE • 2,760 SF
      65 Madison Ave, Skowhegan, ME 04976-1207
      View Details
    • Value Estimation by Request
      2,430 SF

      220 Madison Ave

      DEPARTMENT STORE • 2,430 SF
      220 Madison Ave, Skowhegan, ME 04976-1356
      View Details
    • Value Estimation by Request
      2,204 SF

      175 Madison Ave

      DEPARTMENT STORE • 2,204 SF
      175 Madison Ave, Skowhegan, ME 04976-1344
      View Details
    • Value Estimation by Request
      1,296 SF

      371 Frnt St

      DEPARTMENT STORE • 1,296 SF
      371 Frnt St, Skowhegan, ME 04976-5102
      View Details
    • Value Estimation
      $500,000
      12,875 SF

      42 Ct St

      DEPARTMENT STORE • 12,875 SF
      42 Ct St, Skowhegan, ME 04976-1808
      View Details

    Similar Nearby for Sale

    • $159,000
      2,691 SF

      Skowhegan Commercial Building with Apartment

      Commercial building with apartment in downtown Skowhegan, Maine.
      9 Madison Ave, Skowhegan, ME 04976
      View Details
    • $235,000
      3,244 SF

      Skowhegan Commercial Property on Island

      Turnkey commercial property in downtown Skowhegan with high traffic and parking.
      14 Island Ave, Skowhegan, ME 04976
      View Details
    • $550,000
      2,496 SF

      Established Tavern with Apartment in Maine

      Turnkey tavern with a 3-bedroom apartment and high visibility.
      1 Waterville Rd, Skowhegan, ME 04976
      View Details
    • $450,000
      5,077 SF

      Turn-Key Restaurant Opportunity

      Fully equipped restaurant for sale in a high-visibility location.
      182 Madison Ave, Skowhegan, ME 04976
      View Details
    • $550,000
      2,496 SF

      Established Tavern with Apartment Upstairs

      Turnkey pub with equipment, inventory, and a 3-bedroom apartment.
      1 Waterville Rd, Skowhegan, ME 04976
      View Details
    • $250,000
      3,280 SF

      Skowhegan Commercial Building with Crane

      Large commercial building with crane, office, and development potential.
      221 Eaton Mountain Rd, Skowhegan, ME 04976
      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 Water St
    Skowhegan, ME 04976
    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

    Google sign-in failed. Please try again or use another login method.