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    Property profile & analytics

    75 Penobscot Ave Millinocket, ME 04462

    • Commercial real estate
    • 0.31 lot acres
    For Sale
    View listing
    $179,900
    Value Estimation
    Location Intelligence
    Property ID
    US42-0491893
    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

    • Commercial real estate

    Property Details for 75 Penobscot Ave

    Lot size
    0.31 lot acres
    Property type
    Commercial real estate
    APN
    MLNK-000005-000000-000215U

    Description

    This exceptional 0.31-acre commercial lot, located at 75 Penobscot Avenue in Millinocket, Maine (APN: MLNK-000005-000000-000215U), presents a unique investment opportunity. Situated in the heart of the Katahdin region, this property boasts a convenient Downtown zoning designation and is ideally positioned for immediate development. The lot, previously occupied by a bowling alley, has been meticulously cleared of debris, leaving a clean 13,500 square foot site ready for construction. Existing infrastructure includes a concrete pad, along with readily accessible public water and sewer lines. This prime location offers exceptional visibility and accessibility, making it suitable for a wide range of commercial ventures. The asking price is $189,900, representing a significant reduction from the original list price of $199,900. The seller may consider owner financing, making this an even more attractive proposition for prospective buyers. Don't miss this chance to acquire a highly desirable commercial lot in a thriving Maine community. Contact us today to learn more and schedule a viewing.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Millinocket
    County
    Penobscot
    State
    Maine
    Longitude
    -68.7088693
    Latitude
    45.6544358

    Comparable in this City

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      Waterfront Land with Utilities Ready

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      Vacant Lot on Main Street

      Vacant 0.31-acre lot with utilities in downtown Millinocket, Maine.
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      Cedar Lake Waterfront Land

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    Similar Nearby for Sale

    • $39,900
      3.59 Acres

      Millinocket Land: High Visibility Location

      Commercial/Residential land near Baxter State Park with high visibility.
      Kelly Ln, Millinocket, ME 04462
      View Details
    • $31,000
      1.52 Acres

      Wooded Lots Near Outdoor Recreation

      Wooded lots near town and Maine's outdoor attractions.
      Hasbro Rd, Millinocket, ME 04462
      View Details
    • $1,100,000
      6.40 Acres

      Katahdin Region Legacy Property

      Private compound on 6.4 acres with 3,300 feet of lake frontage.
      Jo Mary Is, Millinocket, ME 04462
      View Details
    • $350,000
      56,628.00 Acres

      Waterfront Land with Utilities Ready

      1.3 acre buildable lot with lake frontage and utilities.
      220 Benjamin Way, Millinocket, ME 04462
      View Details
    • $179,900
      0.31 Acres

      Vacant Lot on Main Street

      Vacant 0.31-acre lot with utilities in downtown Millinocket, Maine.
      75 Penobscot Ave, Millinocket, ME 04462
      View Details
    • $209,900
      1.50 Acres

      Cedar Lake Waterfront Land

      1.5-acre lot with 267 feet of pristine water frontage.
      CL29 Cozy Cor, Millinocket, ME 04462
      View Details
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    Millinocket, ME 04462
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    Realmo Value Estimation

    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.

    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.

    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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