Freestanding Restaurant
For Sale
$1,595,000
512 Main Street, Saco, ME 04072
Commercial Sale, Saco, ME
Property Size6,912 SF
Lot Size0.32 Acres
Price / SF$230.76
Days on Market23
Property Features for 512 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-2C
Basement
Crawl Space, Unfinished, Sump Pump, Partial, Dirt Floor
Lot features
Public Transport Access, Near Turnpike/ Interstate, Bus Line, Near Shopping
Standard status
Active
Size
6,912 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
16915
Utilities
Sewer type
Public Sewer
Heating system
Oil, Propane (Heating), Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1978
Number of units
1
Flooring type
Tile, Vinyl
Building materials
Wood Siding
Roof type
Shingle
Listing Agency:
Town & Shore Real Estate
(207) 773-0262
Listed By:
Jeffrey Davis · License #901562
(207) 233-9423
Added: Aug 11
Changed: Aug 19
Last Checked: Sep 2 at 2:06AM
MLS# 1632213
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 in Saco includes a 6,912-square-foot building on a 0.32-acre parcel. The offering consists of the real estate and equipment; the operating business is excluded. An existing tenant occupies the property under lease.
Constructed in 1978, the building features wood siding, tile and vinyl flooring, a shingle roof, and central air conditioning. Heating is provided by oil, propane, and forced air systems. Public water and public sewer serve the property, and the site includes a substantial parking area. The property is zoned B-2C and is located at 512 Main Street in Saco, Maine.
Constructed in 1978, the building features wood siding, tile and vinyl flooring, a shingle roof, and central air conditioning. Heating is provided by oil, propane, and forced air systems. Public water and public sewer serve the property, and the site includes a substantial parking area. The property is zoned B-2C and is located at 512 Main Street in Saco, Maine.
Key Highlights
- 6,912‑square‑foot freestanding restaurant building
- 0.32‑acre parcel with a substantial parking area
- Real estate and equipment included; operating business excluded
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
$83,598
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
5.24%
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%
$1,671,960
$1.7M
Cap Rate 7%
$1,194,257
$1.2M
Cap Rate 9%
$928,867
$928.9K
Market Conditions
NOI Build-Up for 6,912 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
$124.4K $18.00/SF
− Vacancy
−$13.0K −$1.87/SF
EGI
$111.5K $16.13/SF
− OpEx
−$27.9K −$4.03/SF
NOI
$83.6K $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%
$1,671,960
Cap Rate 7%
$1,194,257
Cap Rate 9%
$928,867
Alternative Uses
Best Use
Specialty Retail
$1.19M
$1.04M – $1.39M
NOI $83,598 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,375 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
173k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Groceries 24%
Shops & Services 14%
Hannaford
Groceries
41,459 visits/mo
0.1 miles
McDonald's
Dining
24,056 visits/mo
0.0 miles
Cumberland Farms
Shops & Services
18,107 visits/mo
0.1 miles
Wendy's
Dining
15,192 visits/mo
0.0 miles
Aroma Joe's
Dining
13,399 visits/mo
0.3 miles
Demographics for 04072, ME
20,381
Population
9,619
Households
2.1
Avg Household Size
43
Median Age
40%
College-Educated
96%
High-School Grad
38.6 sq mi
ZIP Area
528
Density / Sq Mi
$84,328
Median Household Income
$47,419
Median Earnings
$1,268
Median Rent
$370,300
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 - Restaurant real estate and equipment are offered separately from the operating business, with an existing tenant in place.
Where is this conventional restaurant located?
The property is located at 512 Main Street Saco, ME.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 6,912‑square‑foot freestanding restaurant building; 0.32‑acre parcel with a substantial parking area; Real estate and equipment included; operating business excluded
