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Property profile & analytics
OFF-MARKET
Estimated value
$7,000,000
Hotels
500 Us Rte 1st 1 Freeport, ME 04032-7018
Entity Owned
4-yr Hold
Property ID
US42-0499927
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2000
Construction
CONCRETE
Total area
38,323 SF
Lot
2.14 ac (93,218 SF)
Zoning code
CM03
APN
FPRT M:22 B:29 L:D U:0
UPID
US42-0499927
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.47M
CAP Approach
CAP
$4.29M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.00M
Owner & transaction history
Jnr Fund 1 Spe Freeport · 4 yrs held
Jnr Fund 1 Spe Freeport
since 2022
Last sale
$6.5M
3 recorded transactions
Zoning & alternative use
CM03 · Freeport, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.0M
+289.3%
Office building
$4.8M
+271.4%
Retail stores
$4.6M
+257.6%
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
$7,520,000
ML approach
$7,470,000
CAP Approach
CAP Return
Estimation
6%
$4,640,000
6.5%
$4,285,000
7%
$3,980,000
Alternative Use
Use
Estimation
RESTAURANT
$5,040,000
Change: +289% · Conversion: Difficult
OFFICE BUILDING
$4,810,000
Change: +271% · Conversion: Difficult
RETAIL STORES
$4,630,000
Change: +258% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,550,000
Change: +251% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,530,000
Change: +250% · Conversion: Difficult
Blend value · Realmo final
$7.00M
Range $6.30M – $7.70M · ±10% · vs last sale $6.50M (Jun 24 2022)
Last sale anchor
$6.50M
Jun 24 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
$183 / 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
$63,121
Tax year 2023
Assessed value
$4,590,600
Assessed 2023
Previous assessed
$4,590,600
+0.0% YoY
Effective rate
1.38%
On assessed value
Assessed land
$857,500
Assessed improvement
$3,733,100
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2000
Construction
CONCRETE
Heating
HEAT PUMP
Cooling
YES
Buildings
1
Stories
2
Bathrooms
99
Total area
38,323 SF
Lot
2.14 ac (93,218 SF)
Zoning code
CM03
APN
FPRT M:22 B:29 L:D U:0
UPID
US42-0499927
Jurisdiction
FREEPORT
Zoning & alternative use
CM03 · Freeport, ME
Zoning CM03 · permitted uses
CM03 · 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
RESTAURANT
Est. value
$5.0M
OFFICE BUILDING
Est. value
$4.8M
RETAIL STORES
Est. value
$4.6M
AUTO REPAIR, GARAGE
Est. value
$4.6M
COMMERCIAL (GENERAL)
Est. value
$4.5M
RESTAURANT
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
2000
Construction
CONCRETE
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Buildings
1
Bathrooms
99
Lot
2.14 ac
Current owner
From public records · entity-resolved
Jnr Fund 1 Spe Freeport
Entity
Mailing address
500 US RTE 1ST 1, FREEPORT, ME 04032-7018
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 24, 2022
$6,500,000
Jnr Fund 1 Spe Freeport
Giri Freeport INC
Quit Claim Arm's Length For Ne States
$10,106,250 · Bath Savings Institution
Apr 14, 2021
—
Giri Freeport INC
Bombay Management INC
Quit Claim Deed
related
$4,480,000 · 1st National Bank
Aug 2, 2006
—
Bombay Hospitality LLC
—
Deed Of Trust
related
$4,875,000 · Machias 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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