Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    85 Spencer Dr Wells, ME 04090-9317
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    85 Spencer Dr Wells, ME 04090-9317

    View on Map
    • Industrial properties
    • 145,412 SF
    • 39.02 lot acres
    Off-Market
    Property ID
    US42-0250982
    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
    $21,700,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • VELUX Commercial / Industrial Manufacturer / Production Facility

    Property Details for 85 Spencer Dr

    Year built
    1981
    Construction
    STEEL FRAME
    Lot size
    39.02 lot acres
    Property size
    145,412 SF
    Zone code
    LI
    Property type
    Industrial properties
    APN
    WLLS M:050 L:27
    APU
    WLLSM050L27

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $24,990,000
      6.5%
      $23,070,000
      7%
      $21,420,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $20,326,000
      Market price range: $3.93M - $22.4M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $25,685,000
      COMMERCIAL (GENERAL)
      $20,930,000
      RESTAURANT
      $18,395,000
      RETAIL STORES
      $16,215,000
      AUTO REPAIR, GARAGE
      $14,790,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Wells
    County
    York
    State
    Maine
    Longitude
    -70.5984
    Latitude
    43.3236
    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
    $102,733
    $2,296,190
    $14,940,830
    $17,237,020
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.56 Acres

      Old County Rd

      INDUSTRIAL (GENERAL) • 0.56 Acres
      Old County Rd, Wells, ME 04090
      View Details
    • Value Estimation by Request
      0.78 Acres

      Perry Oliver Rd

      INDUSTRIAL (GENERAL) • 0.78 Acres
      Perry Oliver Rd, Wells, ME 04090
      View Details
    • Value Estimation by Request
      1,200 SF

      356 Berwick Rd, Unit 3

      CONDOMINIUMS (INDUSTRIAL) • 1,200 SF
      356 Berwick Rd, Wells, ME 04090-6803
      View Details
    • Value Estimation
      $1,260,000
      12,500 SF

      60 Willie Hl Rd

      INDUSTRIAL (GENERAL) • 12,500 SF
      60 Willie Hl Rd, Wells, ME 04090-6832
      View Details
    • Value Estimation by Request
      1,810 SF

      61 Willie Hl Rd

      INDUSTRIAL (GENERAL) • 1,810 SF
      61 Willie Hl Rd, Wells, ME 04090-6832
      View Details
    • Value Estimation by Request
      400,000 SF

      90 Spencer Dr

      Distribution properties • 400,000 SF
      90 Spencer Dr, Wells, ME 04090
      View Details

    Similar Nearby for Sale

    • $975,000
      Pending

      Unique Retail Building with Expansion Potential

      High-visibility retail building with expansion and development opportunities.
      259 Post Rd, Wells, ME 04090
      View Details
    • Contact for pricing
      2,076 SF

      Prime Commercial Land For Sale

      Commercial land in retail and professional business district.
      910 Post Rd, Wells, ME 04090
      View Details
    • $220,000
      25.08 Acres

      Wells, Maine Land Opportunity

      25+ acres near I-95 and Wells Beach.
      Sanford Rd, Wells, ME 04090
      View Details
    • $650,000
      2,076 SF

      Prime Commercial Land Opportunity

      Land suitable for retail, restaurant, or office development.
      910 Post Rd, Wells, ME 04090
      View Details
    • $850,000
      2,200 SF

      Restaurant Opportunity in Wells, Maine

      Commercial real estate opportunity in high-traffic Wells, Maine.
      743 N Berwick Rd, Wells, ME 04090
      View Details
    • New
      $1,299,000
      4,310 SF

      Retail Opportunity on Route 1

      Two-story commercial building on a high-traffic retail corridor.
      2049 Post Rd, Wells, ME 04090
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      243,346 SF

      High-Bay Manufacturing/Distribution Warehouse Space

      243,346± SF high-bay warehouse space near Maine Turnpike.
      90 Spencer Dr, Wells, ME 04090
      View Details
    • Contact for pricing
      1,676 SF

      Retail Space in Wells Plaza

      1,676± SF retail space available for lease.
      75 Wells Plz, Wells, ME 04090
      View Details
    • Contact for pricing

      Retail Space at Wells Plaza

      Retail space for rent in Wells Plaza on Route 1.
      40-75 Wells Plz, Wells, ME 04090
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in Colonial Square

      Commercial space for lease with high traffic and visibility.
      952 Post Rd, Wells, ME 04090
      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.
    85 Spencer Dr
    Wells, ME 04090-9317
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!