Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    7 Main St Norway, ME 04268-5543
    Back to Search
    Property profile & analytics

    7 Main St Norway, ME 04268-5543

    View on Map
    • Investment properties
    • 1.75 lot acres
    Off-Market
    Property ID
    US42-0472910
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 7 Main St

    Lot size
    1.75 lot acres
    Zone code
    RA
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    NORY M:033 L:016
    APU
    NORYM033L016

    Description

    This exceptional investment opportunity comprises three multifamily properties totaling 72 units across eight buildings in Norway and Bethel, Maine. The portfolio boasts 64,800 square feet of net rentable space situated on a 259,120 square foot lot. Built in 1977, these Class B apartment buildings currently enjoy 100% occupancy, generating a substantial net operating income (NOI) of $378,505, representing a 7.01% capitalization rate. The asking price is $5,400,000, or $75,000 per unit. The properties are comprised of two complexes in Norway (7 Main St and 15 Main St) and one in Bethel (12 Evergreen Rd). This portfolio benefits from a long-term subsidy program extending until 2032, ensuring continued income stability. The properties are two stories each and are professionally managed. This represents a rare opportunity to acquire a well-performing, stabilized multifamily portfolio in a desirable Maine location. The substantial NOI and high occupancy rate make this an attractive investment with significant potential for future growth. This is a 100% ownership opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Norway
    County
    Oxford
    State
    Maine
    Longitude
    -70.5269
    Latitude
    44.1987

    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
    $14,149
    $134,100
    $828,400
    $962,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      12.00 Acres

      Alcott St

      OFFICE/RESIDENTIAL (MIXED USE) • 12.00 Acres
      Alcott St, Norway, ME 04268
      View Details
    • Value Estimation by Request
      8.61 Acres

      Country Clb Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 8.61 Acres
      Country Clb Rd, Norway, ME 04268
      View Details
    • Value Estimation by Request
      9.00 Acres

      Crockett Rdg Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 9.00 Acres
      Crockett Rdg Rd, Norway, ME 04268
      View Details
    • Value Estimation by Request
      2.00 Acres

      273 Dunn Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2.00 Acres
      273 Dunn Rd, Norway, ME 04268-4002
      View Details
    • Value Estimation by Request
      2.21 Acres

      15 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 2.21 Acres
      15 Main St, Norway, ME 04268-5571
      View Details
    • Value Estimation by Request
      1.00 Acre

      Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 1.00 Acre
      Main St, Norway, ME 04268
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Hardware Store Investment Opportunity

      100% leased hardware store with long-term tenant in place.
      138 Main St, Norway, ME 04268
      View Details
    • $77,900
      3.70 Acres

      Residential Land in Established Subdivision

      3.61 acre residential lot near Norway's Main Street.
      52 High Ridge Rd, Norway, ME 04268
      View Details
    • $600,000
      4,390 SF

      Historic Restaurant/Brewery in Norway

      Turn-key restaurant/brewery with outdoor seating and parking.
      237 Main St, Norway, ME 04268
      View Details
    • $499,999
      0.26 Acres

      Commercial Land in Norway, ME

      Commercial land available in Norway, Maine.
      419 Main St, Norway, ME 04268
      View Details
    • $300,000
      1.00 Acre

      Waterfront Land in Norway, Maine

      One-acre waterfront property on Sand Pond, Norway, Maine.
      89 Valhalla Ln, Norway, ME 04268
      View Details
    • $65,000
      6.37 Acres

      Land For Sale, Norway, ME

      6.37 acre land parcel available in Norway, Maine.
      Sodom Rd, Norway, ME 04268
      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.
    7 Main St
    Norway, ME 04268-5543
    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

    Thank You for Inquiry
    7 Main St, Norway, ME, 04268
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!