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

    53 Griffin St Presque Isle, ME 04769-2490

    • Commercial real estate
    • 2,308 SF
    • 0.28 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0195030
    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

    • Griffin Co-Contractors / Construction Company / General Contractor

    Property Details for 53 Griffin St

    Year built
    1945
    Lot size
    0.28 lot acres
    Property size
    2,308 SF
    Zone code
    URBAN
    Property type
    Commercial real estate
    APN
    PREE M:040 B:092 L:053
    APU
    PREEM040B092L053

    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
    Presque Isle
    County
    Aroostook
    State
    Maine
    Longitude
    -68.0045
    Latitude
    46.6872

    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
    $1,623
    $21,800
    $50,000
    $71,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      9.30 Acres

      168 Houlton Rd

      COMMERCIAL (GENERAL) • 9.30 Acres
      168 Houlton Rd, Presque Isle, ME 04769
      View Details
    • Value Estimation
      $575,000
      21.00 Acres

      795 Main St

      COMMERCIAL (GENERAL) • 21.00 Acres
      795 Main St, Presque Isle, ME 04769-2201
      View Details
    • Value Estimation by Request
      880 SF

      24 Industrial St

      COMMERCIAL (GENERAL) • 880 SF
      24 Industrial St, Presque Isle, ME 04769-2536
      View Details
    • Value Estimation by Request

      146 Academy St, Unit 4A

      COMMERCIAL CONDOMINUIM
      146 Academy St, Presque Isle, ME 04769-3102
      View Details
    • Value Estimation by Request

      146 Academy St, Unit 4B

      COMMERCIAL CONDOMINUIM
      146 Academy St, Presque Isle, ME 04769-3102
      View Details
    • Value Estimation by Request

      146 Academy St, Unit 3

      COMMERCIAL CONDOMINUIM
      146 Academy St, Presque Isle, ME 04769-3102
      View Details

    Similar Nearby for Sale

    • $1,450,000

      Presque Isle Mobile Home Community

      85-site mobile home community in Presque Isle, Maine.
      50 Davis St, Presque Isle, ME 04769
      View Details
    • Contact for pricing
      0.24 Acres

      Presque Isle Downtown Building Lot

      Downtown Presque Isle lot, buyer must build if purchased.
      25 Turner St, Presque Isle, ME 04769
      View Details
    • $1,950,000
      54.43 Acres

      54-Acre Commercial/Agricultural Land on Route 1

      54-acre commercial/agricultural property on Route 1 between Presque Isle and Caribou.
      443 Caribou Rd, Presque Isle, ME 04769
      View Details
    • $1,950,000
      54.43 Acres

      Expansive Land on U.S. Route 1

      54-acre property on U.S. Route 1 with redevelopment potential.
      443 Caribou Rd, Presque Isle, ME 04769
      View Details
    • Contact for pricing
      0.28 Acres

      Presque Isle Land Opportunity

      Expansive .27-acre land in Presque Isle near downtown.
      Presque Isle, ME 04769
      View Details
    • $395,000
      9,110 SF

      Presque Isle Mobile Home Park

      Mobile home park with 11 homes included, investment opportunity.
      435 Parsons Rd, Presque Isle, ME 04769
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      422,882 SF

      Aroostook Centre Mall Retail Space

      Presque Isle retail center; multiple suites available.
      830 Main St, Presque Isle, ME 04769
      View Details
    • $12 SF/Yr
      20,000 SF

      Aroostook Centre Mall Retail Space

      Up to 86,479 SF of retail space for lease.
      830 Main St, Presque Isle, ME 04769
      View Details
    • $12 SF/Yr
      6,609 SF

      Presque Isle Flex Space For Lease

      High-visibility retail/industrial space.
      611 Main St, Presque Isle, ME 04769
      View Details
    • Contact for pricing

      Main Street Commercial Land Opportunity

      Commercial land for rent in downtown Presque Isle.
      745 Main St, Presque Isle, ME 04769
      View Details
    • Contact for pricing
      3,400 SF

      Mixed-Use Center Space Available

      3,400 SF space suitable for retail, medical, or office.
      733-735 Main St, Presque Isle, ME 04769
      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.
    53 Griffin St
    Presque Isle, ME 04769-2490
    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.