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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    706 Main St Westbrook, ME 04092-3413

    • Office buildings
    • 2,165 SF
    • 0.26 lot acres
    OFF-MARKET
    Last Sale
    Jun 15, 2022
    $565,000
    Value Estimations
    $600,000
    Show details
    Cap Rate Potential
    5.1%
    Office buildings
    Location Intelligence
    Property ID
    US42-0111880
    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

    • Broaddus Andrew L / Attorney

    Property Details for 706 Main St

    Year built
    1905
    Construction
    FRAME
    Lot size
    0.26 lot acres
    Property size
    2,165 SF
    Zone code
    16
    Property type
    Office buildings
    APN
    WSBR M:033 L:037
    APU
    WSBRM033L037

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $655,000
      ML approach
      $665,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $550,000
      6.5%
      $510,000
      7%
      $470,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $565,000
      Market price range: $279k - $566k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $420,000
      Current use
      COMMERCIAL (GENERAL)
      $490,000
      Change: +17% Conversion: Easy
      RETAIL STORES
      $410,000
      Change: -2% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Westbrook
    County
    Cumberland
    State
    Maine
    Longitude
    -70.3595
    Latitude
    43.6771
    CBSA code
    38860
    CBSA name
    PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

    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
    $6,916
    $213,600
    $201,000
    $414,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $840,000
      20,480 SF

      4 Ledgeview Dr

      OFFICE BUILDING • 20,480 SF
      4 Ledgeview Dr, Westbrook, ME 04092-3939
      View Details
    • Value Estimation
      $645,000
      5,078 SF

      55 Stroudwater St

      OFFICE BUILDING • 5,078 SF
      55 Stroudwater St, Westbrook, ME 04092-4033
      View Details
    • Value Estimation
      $445,000
      9,556 SF

      850 Main St

      OFFICE BUILDING • 9,556 SF
      850 Main St, Westbrook, ME 04092-2885
      View Details
    • Value Estimation
      $2,095,000
      13,864 SF

      501 County Rd

      OFFICE BUILDING • 13,864 SF
      501 County Rd, Westbrook, ME 04092-1921
      View Details
    • Value Estimation
      $250,000
      960 SF

      394 Main St

      OFFICE BUILDING • 960 SF
      394 Main St, Westbrook, ME 04092-4326
      View Details
    • Value Estimation
      $440,000
      7,343 SF

      21 Saco St

      OFFICE BUILDING • 7,343 SF
      21 Saco St, Westbrook, ME 04092-2856
      View Details

    Similar Nearby for Sale

    • $699,000

      Westbrook Office Space For Sale

      Office property in Westbrook's Manufacturing Zoning District, possible expansion.
      587 Spring St, Westbrook, ME 04092
      View Details
    • $425,000

      Westbrook Industrial Land For Sale

      3.24± acres of vacant industrial land for sale.
      31 Spiller Dr, Westbrook, ME 04092
      View Details
    • $570,000
      2,071 SF

      Westbrook Two-Unit Investment Property

      Well-maintained two-unit property near downtown Westbrook with long-term tenants.
      124 Brackett St, Westbrook, ME 04092
      View Details
    • $689,000
      6,189 SF

      Westbrook Restaurant with Redevelopment Potential

      Operating restaurant, real estate, and business for sale in Westbrook.
      10 Hardy Rd, Westbrook, ME 04092
      View Details
    • $425,000
      3.24 Acres

      Westbrook Industrial Land - $425K

      3.24 Acres, Industrial Zoning, Prime Location
      31 Spiller Dr, Westbrook, ME 04092
      View Details
    • $249,000
      1.91 Acres

      Westbrook Development Land

      Prime 1.91-acre corner lot, high visibility.
      0 Ml Brk Cmn Cor, Westbrook, ME 04092
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      16,000 SF

      Westbrook Office Building For Lease

      16,000± SF single-story office building in Westbrook's Industrial Park.
      501 County Rd, Westbrook, ME 04092
      View Details
    • $16 SF/Yr
      17,919 SF

      Westbrook Office Space for Lease

      Class A Office, Flexible Layouts, Ample Parking
      202 Larrabee Rd, Westbrook, ME 04092
      View Details
    • $2,250 /Mo
      1,425 SF

      Westbrook Office Space For Lease

      1,425± SF office space available in Westbrook, Maine.
      23-25 Bridgton Rd, Westbrook, ME 04092
      View Details
    • $11 SF/Yr
      4,379 SF

      Westbrook Office Space For Rent

      First floor office space with flexible layout and direct entry.
      865 Spring St, Westbrook, ME 04092
      View Details
    • $16 SF/Yr
      4,340 SF

      Westbrook Office Space for Lease

      Prime Westbrook location, high visibility, ample parking.
      1389 Bridgton Rd, Westbrook, ME 04092
      View Details
    • $8 SF/Yr
      1,550 SF

      Westbrook Office Space For Rent

      Office space for rent in a premier office park.
      55 Bradley Dr, Westbrook, ME 04092
      View Details
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    706 Main St
    Westbrook, ME 04092-3413
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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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