Building Details

Flooring type Concrete, Laminate

Building materials Masonry, Steel Frame, Wood Frame

Roof type Shingle

Listing Agency: EXP Realty m***@exprealty.net Show Phone

Listed By: Edward Herczeg Show Phone

Added: Jun 23 Changed: Sep 14 Last Checked: Sep 22 at 11:06PM

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MLS# 1668396

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 three-building commercial property combines an operating grocery business with additional income and reuse potential. The 9,000-square-foot compound sits on 1.4 acres and includes a recently remodeled grocery facility with commercial coolers, display racks, a POS system, CCTV security, and updated flooring. Construction includes masonry, steel frame, and wood frame components, with laminate and concrete flooring.

A separate building is leased to the United States Postal Service, while the original train depot is vacant and available for a future use. The property has public water and public sewer, with natural gas, oil, and electric heating systems, plus central air and heat pump cooling. Located at 21, 27, and 33 Depot Square in Mechanic Falls, Maine, the offering includes the commercial real estate and operating grocery assets.

Key Highlights

• 9,000‑square‑foot three‑building commercial compound
• 1.4 acres at 21, 27, and 33 Depot Square
• Operating grocery facility remodeled over 7 months

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

$106,191

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

7.08%

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%

$2,123,820 $2.1M

Cap Rate 7%

$1,517,014 $1.5M

Cap Rate 9%

$1,179,900 $1.2M

Market Conditions

NOI Build-Up for 9,000 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

$194.4K $21.60/SF

− Vacancy

−$24.5K −$2.72/SF

EGI

$169.9K $18.88/SF

− OpEx

−$63.7K −$7.08/SF

NOI

$106.2K $11.80/SF

Area

Androscoggin County, ME

Vacancy

12.60%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

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%

$2,123,820

Cap Rate 7%

$1,517,014

Cap Rate 9%

$1,179,900

Alternative Uses

Best Use

Mixed Use

$1.52M

$1.33M – $1.77M (±1% cap)

NOI $106,191 @ 7.0% cap · market cap 7.08%

Second Best

Retail

$1.34M

$1.18M – $1.57M (±1% cap)

NOI $94,122 @ 7.0% cap · market cap 6.27%

Theoretical Best

Warehouse

$15.98M

$13.99M – $18.65M (±1% cap)

NOI $1,118,927 @ 7.0% cap · market cap 74.60%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Future Foods Grocery & Convenience Store

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Electrical Service Law Firm Hair Salon Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

115

Businesses Nearby

16k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 84% Groceries 16%

Cumberland Farms Shops & Services

9,135 visits/mo 0.1 miles

Citgo Shops & Services

2,956 visits/mo 0.1 miles

Future Foods IGA Groceries

2,612 visits/mo 0.1 miles

Napa Auto Parts Shops & Services

1,128 visits/mo 0.1 miles

Demographics for 04256, ME

3,107

Population

1,195

Households

2.6

Avg Household Size

41

Median Age

15%

College-Educated

92%

High-School Grad

11.0 sq mi

ZIP Area

282

Density / Sq Mi

$58,958

Median Household Income

$36,601

Median Earnings

$1,160

Median Rent

$224,100

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• Future Foods — 21 Depot Sq, Mechanic Falls, ME 04256

Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Operating grocery business with updated infrastructure, a leased USPS building, and an additional depot structure.

Where is this grocery and convenience store located?

The property is located at 21 27 33 Depot Square Mechanic Falls, ME.

What is the asking price?

The asking price for this property is $1,500,000.

What are key features of this property?

This property features: 9,000‑square‑foot three‑building commercial compound; 1.4 acres at 21, 27, and 33 Depot Square; Operating grocery facility remodeled over 7 months