Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    91 Spiller Dr Westbrook, ME 04092
    Back to Search
    Property profile & analytics

    91 Spiller Dr, Westbrook, ME 04092

    View on Map
    • Commercial land
    • 3.43 lot acres
    Off-Market
    Property ID
    US42-0163379
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 91 Spiller Dr

    Lot size
    3.43 lot acres
    Zone code
    22
    Property type
    Commercial land
    APN
    WSBR M:004 L:303
    APU
    WSBRM004L303

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 22, 2021 — Icarian Assoc LLC — Deed · related $665k · Nbt Bank National Association
    Oct 25, 2017 — Icarian Associates LLC — Deed · related $200k · Nbt Bank NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Westbrook
    County
    Cumberland
    State
    Maine
    Longitude
    -70.3838
    Latitude
    43.6571
    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
    $4,095
    $224,000
    $21,500
    $245,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      58.39 Acres

      528 Stroudwater St

      VACANT COMMERCIAL LAND
      528 Stroudwater St, Westbrook, ME 04092-4049
      View Details
    • Value Estimation by Request
      1.00 Acre

      Brg St

      VACANT COMMERCIAL LAND
      Brg St, Westbrook, ME 04092
      View Details
    • Value Estimation by Request
      40.00 Acres

      Bridgton Rd

      VACANT COMMERCIAL LAND
      Bridgton Rd, Westbrook, ME 04092
      View Details
    • Value Estimation by Request
      2.24 Acres

      Presidential Way

      VACANT COMMERCIAL LAND
      Presidential Way, Westbrook, ME 04092
      View Details
    • Value Estimation by Request
      2.30 Acres

      22 Spiller Dr

      VACANT COMMERCIAL LAND
      22 Spiller Dr, Westbrook, ME 04092-2077
      View Details
    • Value Estimation
      $635,000
      2.08 Acres

      511 Brg St

      VACANT COMMERCIAL LAND
      511 Brg St, Westbrook, ME 04092-3105
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Westbrook Industrial Land For Sale

      3.24± acres of vacant industrial land for sale.
      31 Spiller Dr, Westbrook, ME 04092
      View Details
    • Contact for pricing
      65,340 SF

      Commercial Lot on Busy Road

      1.5 acre commercial lot on a high-traffic road.
      290 Bridgton Rd, Westbrook, ME 04092
      View Details
    • Contact for pricing

      Visible Development Lot on US Route

      Development lot ideal for small business or investor/developer.
      Ml Brk Cmn Cor, Westbrook, ME 04092
      View Details
    • Contact for pricing
      3,648 SF

      Westbrook Standalone Commercial Building

      Standalone building on Westbrook’s primary commercial corridor.
      835 Main St, Westbrook, ME 04092
      View Details
    • Contact for pricing
      24,419 SF

      Class A Office Building For Sale

      Class A office building in a rapidly developing commercial corridor.
      202 Larrabee Rd, Westbrook, ME 04092
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      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
    • Contact for pricing

      New Construction Industrial Space

      Industrial space for rent in Westbrook's Colonel Westbrook Executive Park.
      860 Spring St, Westbrook, ME 04092
      View Details
    • Contact for pricing
      62,276 SF

      Westbrook Retail Sublease Opportunity

      62,276 SF retail sublease in Westbrook Crossing.
      1-51 Main St, Westbrook, ME 04092
      View Details
    • Contact for pricing
      6,035 SF

      Westbrook Warehouse Space for Lease

      6,035± SF warehouse space available near Maine Turnpike Exit.
      185 Warren Ave, Westbrook, ME 04092
      View Details
    • Contact for pricing
      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
    • Contact for pricing

      Westbrook Medical/Office Building For Lease

      Freestanding medical/office building with ample parking and highway access.
      1389 Bridgton Rd, Westbrook, ME 04092
      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.
    91 Spiller Dr
    Westbrook, ME 04092
    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

    Thank You for Inquiry
    91 Spiller Dr, Westbrook, ME, 04092
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!