15 Payne AveRockland, ME 04841

Property Details for 15 Payne Ave

Year built

1979

Construction

FRAME

Lot size

1.15 AC

Property size (Sq ft)

1,748 SF

Property type

Office buildings

APN

ROCD M:055B L:02000

APU

ROCDM055BL02000

Description

This exceptional 3,412 square foot standalone office building presents a unique investment opportunity in Rockland, Maine. Situated on a 1.15-acre lot, the property boasts high visibility and accessibility with two curb cuts directly onto Route 1, offering excellent signage potential. The building's C-2 zoning allows for a diverse range of uses, including retail, office space, service businesses, or even redevelopment projects. A significant advantage is the inclusion of a separate 1,400 square foot garage/flex building, providing ample additional space for storage, workshops, or expansion. The high traffic count of 9,940 (AADT 2022) ensures significant exposure to potential customers and clients. This property is ideal for businesses seeking a prominent location with versatile space and strong potential for growth. The combination of prime location, flexible zoning, and substantial building size makes this an attractive proposition for a variety of commercial ventures. The property's strategic placement along a major thoroughfare, coupled with its ample parking and versatile building configuration, presents a compelling opportunity for both established businesses and new ventures seeking a strong foothold in the Rockland market. The existing structures are well-maintained and ready for immediate occupancy, minimizing upfront investment and maximizing return.

• CAP approach

  CAP return

  Valuation

  6%

  $288,997

  6.5%

  $266,766

  7%

  $247,711

• Comparable approach

  Method

  Valuation

  Relative Method

  $228,394

  Geo Method

  $228,394

• Alternative Use

  Use

  Valuation

  Residential

  $330,790

  Hospitality

  $303,002

  Educational

  $252,094

  Medical

  $260,764

  Retail

  $392,146

Location Insight

City

Rockland

County

Knox

State

Maine

Latitude

44.1

Longitude

-69.1286

CBSA code

40500

CBSA name

ROCKLAND, ME MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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