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    Retail Location in Kittery, ME Title is generated by Realmo AI

    429 US-1, Kittery, ME 03904

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    For Sale
    $825,000

    COMMERCIAL - Kittery, ME

    Type:Retail
    Property size:
    1,757 SF
    Lot size:
    1.21 Acres
    Price / SF:
    $469/SF
    Added:
    Apr 4, 2026
    Days on Market:
    42
    Last Refresh:
    May 15 at 9:06 am

    Property Features for 429 US-1

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Zoning
    MU
    Rooms
    Basement
    Parking features
    Off Street
    Basement
    Sump Pump
    Standard status
    Active
    Size
    1,757 SF
    Lot size
    1.21 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    3382

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1920
    Building materials
    Wood Frame

    We can help!

    Listing Contact
    George O'Connell

    Listing agent George O'Connell

    Listing office Keller Williams Coastal and Lakes & Mountains Realty 750 Lafayette Road Suite 201, Portsmouth, ME

    Listing date Apr 4, 2026

    MLS# 1608046

    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.

    HighLights

    • Direct Route 1 access and adjacent to an intersection.
    • Mixed Use zoning allows for several permitted uses.
    • Ideal Pad Site with 1.21 acres and two potential access points.
    • Excellent visibility with 161+\/- Feet of Frontage on Rte 1 and 104+\/- Feet of frontage on Cutts Road.
    • Located near high‑traffic businesses: Sonoco, Maine Beer Cafe, When Pigs Fly, Auto Spa Car Wash, Dunkin Donuts, and Kittery Outlets (Adidas).
    • Access from two roads.

    Overview

    This property offers an excellent retail location in Kittery, Maine, with direct access to Route 1 and adjacency to an intersection. The 1.21-acre site benefits from mixed-use zoning, allowing for various development possibilities. It features approximately 161 feet of frontage on Route 1 and approximately 104 feet of frontage on Cutts Road, providing excellent visibility. The property has access from two roads, making it an ideal pad site. The existing building, currently used as an 8-unit boarding house in good condition, is not expected to be suitable for retail development. Nearby businesses include a Sonoco gas station, Maine Beer Cafe, When Pigs Fly Restaurant, Auto Spa Car Wash, and Dunkin Donuts. The Adidas Store at Kittery Outlets is also a short distance away. The property size is 1757 square feet.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Pharmacy Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kittery
    County
    York
    State
    Maine
    Longitude
    -70.73
    Latitude
    43.1147

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    FAQs

    What type of property is this?
    Retail space - Excellent retail location with Route 1 access and mixed-use zoning.
    Where is this retail space located?
    The property is located at 429 US-1 Kittery, ME.
    What is the asking price?
    The asking price for this property is $825,000.
    What are key features of this property?
    This property features: Direct Route 1 access and adjacent to an intersection.; Mixed Use zoning allows for several permitted uses.; Ideal Pad Site with 1.21 acres and two potential access points.
    (603) 978-8381
    We can help!
    Listing Contact
    George O'Connell
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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