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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Showrooms
9 Mechanic St Freeport, ME 04032-1526
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US42-0358697
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2017
Construction
FRAME
Total area
2,953 SF
Lot
0.09 ac (3,920 SF)
Zoning code
CM03
APN
FPRT M:11 B:95 L:0 U:0
UPID
US42-0358697
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
-
the perfect spell Restaurant Theater & Performing Art Venue
-
Palmer and Company (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$430k
CAP Approach
CAP
$565k
Comparable Approach
Comparable
$730k
Blend (final)
Blend
$525k
Owner & transaction history
Palmer Dev Grp LLC · 5 yrs held
Palmer Dev Grp LLC
since 2021
3 recorded transactions
Zoning & alternative use
CM03 · Freeport, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Freeport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Freeport 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
$430,000
CAP Approach
CAP Return
Estimation
6%
$610,000
6.5%
$565,000
7%
$525,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$665,000
Current use
OFFICE BUILDING
$570,000
Change: -14% · Conversion: Easy
RETAIL STORES
$560,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$525k
Range $473k – $578k · ±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
$178 / 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
$8,931
Tax year 2023
Assessed value
$649,500
Assessed 2023
Previous assessed
$662,200
-1.9% YoY
Effective rate
1.38%
On assessed value
Assessed land
$239,700
Assessed improvement
$409,800
Applied tax rate
26,525.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
2017
Construction
FRAME
Heating
BASEBOARD
Cooling
YES
Buildings
1
Stories
2
Bathrooms
99
Total area
2,953 SF
Lot
0.09 ac (3,920 SF)
Zoning code
CM03
APN
FPRT M:11 B:95 L:0 U:0
UPID
US42-0358697
Jurisdiction
FREEPORT
Zoning & alternative use
CM03 · Freeport, ME
Zoning CM03 · permitted uses
CM03 · Freeport, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Freeport. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$665,000
OFFICE BUILDING
Est. value
$570,000
RETAIL STORES
Est. value
$560,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2017
Construction
FRAME
Heating
BASEBOARD
Cooling
Yes
Stories
2
Buildings
1
Bathrooms
99
Lot
0.09 ac
Current owner
From public records · entity-resolved
Palmer Dev Grp LLC
Entity
Mailing address
PO BOX 277, SOUTH FREEPORT, ME 04078-0277
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 18, 2021
—
Palmer Dev Grp LLC
9 Mechanic Street LLC
Warranty Deed
$975,000 · Norway Savings Bank
Jun 28, 2017
—
9 Machanic Street LLC
—
Deed
related
$250,000 · Bath Svgs Inst'l
—
—
9 Machanic Street LLC
—
Deed Of Trust
related
$250,000 · Bath Svgs Inst'l
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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