Freestanding Restaurant with River
11 Elm Street Biddeford, ME 04005
11 Elm Street, Biddeford, ME, 04005
$1,150,000
For Sale
$1,150,000
COMMERCIAL - Biddeford, ME
Property Size3,935 SF
Lot Size0.56 Acres
Price / SF$292.25
Days on Market59
Property Features for 11 Elm Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Zoning
- B1
- Standard status
- Active
- Size
- 3,935 SF
- Lot size
- 0.56 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 7548
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Oil
- Cooling system
- Central Air
- Water source
- Public
- Water front features
- Stream
Building Details
- Year built
- 1972
- Flooring type
- Vinyl, Carpet
- Building materials
- Wood Siding
- Roof type
- Shingle
Listing Agency
Coldwell Banker Realty
(207) 282-5988
120 Main Street, Suite 243, Saco, ME
Listed by
Steven Liautaud
(207) 604-0655
Added: May 24 Updated: Jul 11 at 11:32 am Checked: Jul 21 at 6:06 am
MLS# 1658022
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding restaurant property offers approximately 3,959± square feet of space and includes on-site parking. It is described as a former Koi Restaurant, and the site also presents flexibility for high-volume use or a drive-thru configuration. The property is zoned B1.
Located at 11 Elm Street on Spring Island, the building has frontage on the Saco River and is positioned on a highly visible street. The offering notes traffic counts of approximately 12,400± vehicles per day. The area is characterized by significant redevelopment activity, including Pepperell Mill Campus and Lincoln Mill, along with continued Main Street revitalization.
Located at 11 Elm Street on Spring Island, the building has frontage on the Saco River and is positioned on a highly visible street. The offering notes traffic counts of approximately 12,400± vehicles per day. The area is characterized by significant redevelopment activity, including Pepperell Mill Campus and Lincoln Mill, along with continued Main Street revitalization.
Key Highlights
- 3,959± SF free‑standing restaurant building in Biddeford
- Former Koi Restaurant with wood siding and a shingle roof; vinyl and carpet flooring
- Central air with forced‑air oil heating; public water and public sewer
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $70.8k | $18.00 |
| − Vacancy | −$7.4k | −$1.87 |
| EGI | $63.5k | $16.13 |
| − OpEx | −$15.9k | −$4.03 |
| NOI | $47.6k | $12.09 |
3,935 SF · lease $18.00/SF/yr · vacancy 10.41% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$679.9K
$594.9K – $793.2K
NOI $47,592 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,316 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Koi Asian Cuisine
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Freestanding restaurant on a river-front site with on-site parking and visibility along a main commercial street.
Where is this conventional restaurant located?
The property is located at 11 Elm Street Biddeford, ME.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 3,959± SF free‑standing restaurant building in Biddeford; Former Koi Restaurant with wood siding and a shingle roof; vinyl and carpet flooring; Central air with forced‑air oil heating; public water and public sewer
