Freestanding Restaurant
For Sale
$995,000
11 Elm Street, Biddeford, ME 04005
Commercial Sale, Biddeford, ME
Property Size3,935 SF
Lot Size0.56 Acres
Price / SF$252.86
Days on Market56
Property Features for 11 Elm Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
B1
Lot features
Waterfront, Water View, Public Transport Access, Near Turnpike/ Interstate, Downtown, Business District, Bus Line
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
Oil, Forced Air
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 · Coldwell Banker Real Estate
(207) 282-5988
Listed By:
Steven Liautaud
(207) 604-0655
Added: Jul 11
Changed: Aug 19
Last Checked: Sep 4 at 11:06AM
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 occupies a 0.56-acre site and includes a building constructed in 1972. The former restaurant facility has wood siding, vinyl and carpet flooring, forced-air oil heating, central air, a shingle roof, and public water and sewer service. B1 zoning is in place for the property.
Located at 11 Elm Street in Biddeford, the site has frontage on the Saco River and approximately 12,400± vehicles pass the area daily. An on-site parking lot serves the building. The property is on Spring Island, near the Pepperell Mill Campus and Lincoln Mill, with continued redevelopment and Main Street revitalization identified in the surrounding area.
Located at 11 Elm Street in Biddeford, the site has frontage on the Saco River and approximately 12,400± vehicles pass the area daily. An on-site parking lot serves the building. The property is on Spring Island, near the Pepperell Mill Campus and Lincoln Mill, with continued redevelopment and Main Street revitalization identified in the surrounding area.
Key Highlights
- 0.56‑acre restaurant property with a freestanding building
- B1 zoning with public water and public sewer
- Frontage on the Saco River at Spring Island
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$47,592
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$951,840
$951.8K
Cap Rate 7%
$679,886
$679.9K
Cap Rate 9%
$528,800
$528.8K
Market Conditions
NOI Build-Up for 3,935 SF
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.
Gross rent
$70.8K $18.00/SF
− Vacancy
−$7.4K −$1.87/SF
EGI
$63.5K $16.13/SF
− OpEx
−$15.9K −$4.03/SF
NOI
$47.6K $12.09/SF
Area
York County, ME
Vacancy
10.41%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$951,840
Cap Rate 7%
$679,886
Cap Rate 9%
$528,800
Alternative Uses
Best Use
Specialty Retail
$679.9K
$594.9K – $793.2K
NOI $47,592 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,316 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12,400 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,492
Businesses Nearby
136k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Groceries 20%
Apparel 17%
Dining 15%
Shaw's Supermarket
Groceries
26,960 visits/mo
0.4 miles
Reny's
Apparel
23,122 visits/mo
0.4 miles
Dunkin' Donuts
Dining
9,783 visits/mo
0.3 miles
7-Eleven
Shops & Services
9,374 visits/mo
0.5 miles
Mobil
Shops & Services
9,313 visits/mo
0.2 miles
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The property has B1 zoning, public water and sewer, and an on-site parking lot.
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 $995,000.
What are key features of this property?
This property features: 0.56‑acre restaurant property with a freestanding building; B1 zoning with public water and public sewer; Frontage on the Saco River at Spring Island
