Mixed-Use Property with
3 E Grand Avenue Scarborough, ME 04074
For Sale
$1,295,000
COMMERCIAL - Scarborough, ME
Property Size7,960 SF
Lot Size1.30 Acres
Price / SF$162.69
Days on Market18
Property Features for 3 E Grand Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Town Village Center
- Rooms
- Basement
- Standard status
- Active
- Size
- 7,960 SF
- Lot size
- 1.30 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 17336
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Heat Pump (Heating), Oil, Propane (Heating)
- Water source
- Public
Building Details
- Year built
- 1940
- Building materials
- Wood Frame, Wood Siding
- Roof type
- Shingle
Listing Agency:
F.O. Bailey Real Estate
(207) 781-1111
Listed By:
Thomas Gadbois · License #BA918504
(207) 409-8339
Added: Jul 7
Changed: Jul 8
Last Checked: Jul 24 at 8:06PM
MLS# 1670684
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 renovated mixed-use property offers approximately 7,960± SF of space updated in 2017. The first floor includes a turnkey restaurant space of approximately 4,000± SF with seating for over 130 guests, along with a gift shop retail space. The second floor features two spacious 3-bedroom apartments. Outdoor space includes a patio with a gas fire pit, and the property provides dedicated green space for tenants.
The property is located at 3 E Grand Avenue in Scarborough, within the Town Village Center zoning district. Approximately 30 on-site parking spaces are available for customers and residents.
The building’s layout supports multiple uses under one roof, combining restaurant and retail income with residential rental units.
The property is located at 3 E Grand Avenue in Scarborough, within the Town Village Center zoning district. Approximately 30 on-site parking spaces are available for customers and residents.
The building’s layout supports multiple uses under one roof, combining restaurant and retail income with residential rental units.
Key Highlights
- 7,960± SF mixed‑use property in Pine Point, Scarborough; updated in 2017 with restaurant, retail gift shop, and apartments.
- 4,000± SF restaurant space fully equipped, with seating for over 130 guests and an outdoor patio with a gas fire pit.
- Includes a gift shop retail space and two spacious 3‑bedroom apartments on the second floor.
Financial Insights For Mixed Use
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 | $171.9k | $21.60 |
| − Vacancy | −$13.8k | −$1.73 |
| EGI | $158.2k | $19.87 |
| − OpEx | −$59.3k | −$7.45 |
| NOI | $98.9k | $12.42 |
7,960 SF · lease $21.60/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Multifamily LT 5
$2.01M
$1.76M – $2.34M
NOI $140,665 @ 7.0% cap · market cap 10.86%
Second Best
Apartment 5plus
$1.87M
$1.64M – $2.18M
NOI $130,867 @ 7.0% cap · market cap 10.11%
Theoretical Best
Office A
$2.19M
$1.91M – $2.55M
NOI $153,147 @ 7.0% cap · market cap 11.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Dog Days Gift ...
(Bike/Boat/Book/etc) Store
The Garage BBQ
Restaurant
EBC Pizza
Take-out & Catering
FAQs
What type of property is this?
Mixed-use property - Renovated mixed-use building includes a turnkey restaurant, gift shop retail space, and two second-floor apartments.
Where is this mixed-use property located?
The property is located at 3 E Grand Avenue Scarborough, ME.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 7,960± SF mixed‑use property in Pine Point, Scarborough; updated in 2017 with restaurant, retail gift shop, and apartments.; 4,000± SF restaurant space fully equipped, with seating for over 130 guests and an outdoor patio with a gas fire pit.; Includes a gift shop retail space and two spacious 3‑bedroom apartments on the second floor.
