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    7 Old Searsport Ave Belfast, ME 04915

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    7 Old Searsport Ave Belfast, ME 04915

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    • Commercial real estate
    • 3,000 SF
    • 1.40 lot acres
    For Sale
    $459,000
    View Listing →
    Versatile Commercial Building on Route 1 For Sale
    $459,000
    3,000 SF

    Versatile Commercial Building on Route 1

    3,000 sq ft commercial building with mixed-use zoning.

    7 Old Searsport Avenue, Belfast, ME 4915
    View Listing
    Property ID
    US42-0189069
    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

    • Commercial real estate

    Property Details for 7 Old Searsport Ave

    Lot size
    1.40 lot acres
    Property size
    3,000 SF
    Property type
    Commercial real estate

    Description

    This exceptional commercial property, located at 7 Old Searsport Avenue in Belfast, Maine, presents a unique opportunity for a variety of retail ventures. Situated on a prominent corner lot at the intersection of Old Searsport Avenue and Route 1, this 3,000 square foot building boasts over 1,100 feet of road frontage, ensuring maximum visibility and accessibility. The 1.4-acre lot provides ample space for expansion or additional development. The building itself features two 1,500 square foot floors, currently open and undivided, offering flexibility for customization to suit specific business needs. It includes commercial-grade flooring, wide stairs, and a handicap-accessible bathroom, catering to a broad range of customers. A large covered porch adds to the property's appeal, and a seasonal ocean view enhances its desirability. Two permitted driveways, one on Old Searsport Avenue and one on Route 1, provide convenient access. The property's open layout and lack of internal divisions present significant potential for creative design and efficient space utilization. The asking price is $699,000. This prime location in Waldo County, with its zip code 04915, offers unparalleled exposure and growth potential.

    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
    Belfast
    County
    Waldo
    State
    Maine
    Longitude
    -68.9927082
    Latitude
    44.4327099

    Comparable in this City

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      High-Visibility Commercial Property on Route 1

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    • $459,000
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      Versatile Commercial Building on Route 1

      3,000 sq ft commercial building with mixed-use zoning.
      7 Old Searsport Ave, Belfast, ME 04915
      View Details
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      Belfast Land in Private Subdivision

      2.04 acre lot in a desirable Belfast subdivision.
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      Belfast Land Parcels For Sale

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      Belfast Land with Sunset Views

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      Established Sand & Gravel Business

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    Similar Nearby for Sale

    • $775,000
      2.00 Acres

      High-Visibility Commercial Property on Route 1

      Prime commercial property with high visibility and flexible zoning.
      2 Swan Lake Ave, Belfast, ME 04915
      View Details
    • $459,000
      Pending

      Versatile Commercial Building on Route 1

      3,000 sq ft commercial building with mixed-use zoning.
      7 Old Searsport Ave, Belfast, ME 04915
      View Details
    • $48,000
      2.04 Acres

      Belfast Land in Private Subdivision

      2.04 acre lot in a desirable Belfast subdivision.
      1 Bowling Green Ln, Belfast, ME 04915
      View Details
    • $92,500

      Belfast Land Parcels For Sale

      Two land parcels available on Bowling Green Lane, Belfast, Maine.
      1 Bowling Green Ln, Belfast, ME 04915
      View Details
    • $295,000
      21.10 Acres

      Belfast Land with Sunset Views

      21-acre parcel near Belfast with driveway and septic system.
      27 Bowling Green Ln, Belfast, ME 04915
      View Details
    • $1,450,000
      120.00 Acres

      Established Sand & Gravel Business

      120-acre commercial property with business included in Belfast, Maine.
      185 Belmont Ave, Belfast, ME 04915
      View Details
    View Listing
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    Belfast, ME 04915
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    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
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