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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Turn key restaurants
68 Garrison Cv Rd Bailey Island, ME 04003
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US42-0277397
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1950
Construction
FRAME
Total area
5,618 SF
Lot
2.67 ac (116,305 SF)
Zoning code
CF1
APN
HARP M:026 L:002
UPID
US42-0277397
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$510k
Owner & transaction history
Craigs All Natural LLC|parent,norman C · 11 yrs held
Craigs All Natural LLC|parent,norman C
since 2015
7 recorded transactions
Zoning & alternative use
CF1 · Bailey Island, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Bailey Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bailey Island 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$740,000
Current use
OFFICE BUILDING
$705,000
Change: -5% · Conversion: Moderate
AUTO REPAIR, GARAGE
$665,000
Change: -10% · Conversion: Difficult
COMMERCIAL (GENERAL)
$640,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$510k
Range $459k – $561k · ±10%
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
$91 / 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
$6,739
Tax year 2023
Assessed value
$1,104,800
Assessed 2023
Previous assessed
$1,104,800
+0.0% YoY
Effective rate
0.61%
On assessed value
Assessed land
$769,800
Assessed improvement
$335,000
Applied tax rate
31,390.0000
Comparables
5 recent transactions · within 1.5 miComparable in this city
5 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1950
Construction
FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Units
1
Rooms
4
Bathrooms
2
Total area
5,618 SF
Lot
2.67 ac (116,305 SF)
Zoning code
CF1
APN
HARP M:026 L:002
UPID
US42-0277397
Jurisdiction
HARPSWELL
Zoning & alternative use
CF1 · Bailey Island, ME
Zoning CF1 · permitted uses
CF1 · Bailey Island, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bailey Island. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$740,000
OFFICE BUILDING
Est. value
$705,000
AUTO REPAIR, GARAGE
Est. value
$665,000
COMMERCIAL (GENERAL)
Est. value
$640,000
RESTAURANT Current
OFFICE BUILDING
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
1950
Construction
FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Units
1
Rooms
4
Bathrooms
2
Lot
2.67 ac
Current owner
From public records · entity-resolved
Craigs All Natural LLC|parent,norman C
Entity
Mailing address
PO BOX 11, BAILEY ISLAND, ME 04003-0011
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 28, 2025
—
Cooks Re Holdings LLC
—
Deed
related
$1,843,000 · Androscoggin Bank
Jan 15, 2015
—
Craigs All Natural LLC|parent,norman C
Maine Wharf Ventures LLC
Grant Deed
related
—
Mar 4, 2014
—
Norman C Parent
—
Deed Of Trust
related
$45,000 · City Of Portland (me)
Apr 24, 2013
—
Norman C Parent
—
Deed Of Trust
related
$200,000 · Coastal Enterprises
Apr 16, 2009
—
Norman C Parent
—
Deed Of Trust
related
$570,000 · City Of Portland (me)
Mar 26, 2009
—
Norman C Parent
—
Deed Of Trust
related
$50,000 · City Of Portland (me)
Jan 14, 2005
—
Norman C Parent
—
Deed Of Trust
related
$70,000 · Td Bank NA
—
—
Cooks Real Estate Holdings Ll
—
Deed Of Trust
related
$298,900 · Granite St Economic Dev
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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