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Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Commercial real estate
89 Grand Ave Old Orchard Beach, ME 04064-2640
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US42-0360240
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1959
Construction
FRAME
Total area
3,676 SF
Lot
0.39 ac (16,932 SF)
Zoning code
DD-2
APN
OOBH M:313 B:4 L:2
UPID
US42-0360240
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Gull Motel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$390k
CAP Approach
CAP
$700k
Comparable Approach
Comparable
$740k
Blend (final)
Blend
$610k
Owner & transaction history
Lafayette Old Orchard LLC · 5 yrs held
Lafayette Old Orchard LLC
since 2021
1 recorded transaction
Zoning & alternative use
DD-2 · Old Orchard Beach, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Downtown District-2 (DD-2) Sec. 78-746. - Purpose. The downtown district 2 (DD-2) represents a natural expansion of the DD-1 district into adjacent underutilized parcels for the purpose of increasing the critical mass of commercial space and diversity of goods and services essential to provide for a strong local economy. Since the DD-2 district is both visua…
Zone name
Downtown District 2
General category
COMMERCIAL
Zone area
105.77 ac
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Old Orchard Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Old Orchard Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$390,000
CAP Approach
CAP Return
Estimation
6%
$760,000
6.5%
$700,000
7%
$650,000
Blend value · Realmo final
$610k
Range $549k – $671k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$166 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$17,216
Tax year 2023
Assessed value
$1,510,200
Assessed 2023
Previous assessed
$1,234,100
+22.4% YoY
Effective rate
1.14%
On assessed value
Assessed land
$748,000
Assessed improvement
$762,200
Applied tax rate
55,085.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1959
Construction
FRAME
Heating
HOT WATER
Buildings
3
Stories
2
Units
8
Rooms
8
Total area
3,676 SF
Lot
0.39 ac (16,932 SF)
Zoning code
DD-2
APN
OOBH M:313 B:4 L:2
UPID
US42-0360240
Jurisdiction
OLD ORCHARD BEACH
Zoning & alternative use
DD-2 · Old Orchard Beach, MEZoning DD-2 · permitted uses
DD-2 · Old Orchard Beach, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Downtown District-2 (DD-2) Sec. 78-746. - Purpose. The downtown district 2 (DD-2) represents a natural expansion of the DD-1 district into adjacent underutilized parcels for the purpose of increasing the critical mass of commercial space and diversity of goods and services essential to provide for a strong local economy. Since the DD-2 district is both visually and functionally related to the traditional downtown, many of the same uses and design standards of the DD-1 district apply. General Business-1 (GB-1)
Zone name
Downtown District 2
General category
COMMERCIAL
Zone area
105.77 ac
Building & site characteristics
From public records
Year built
1959
Construction
FRAME
Heating
HOT WATER
Stories
2
Buildings
3
Units
8
Rooms
8
Lot
0.39 ac
Current owner
From public records · entity-resolved
Lafayette Old Orchard LLC
Entity
Mailing address
155 LITTLEFIELD AVE, BANGOR, ME 04401-7206
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2021
—
Lafayette Old Orchard LLC
Barbara Zenahlik
Warranty Deed
$3,500,000 · Saco & Biddeford Savings
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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