Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    57-59 State Rd Kittery, ME 03904

    Sponsored
    For Sale
    $1,300,000

    COMMERCIAL - Kittery, ME

    Property size:
    5,112 SF
    Lot size:
    0.76 Acres
    Days on Market:
    109
    Last Refresh:
    Feb 13 at 2:06 am

    Property Features for 57-59 State Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    BL-1
    Rooms
    Basement
    Interior features
    Storage
    Basement
    Full, Walk-Out Access, Unfinished
    Size
    5,112 SF
    Lot size
    0.76 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Heat Pump (Heating)
    Cooling system
    Central Air, Heat Pump
    Water source
    Public

    Building Details

    Year built
    1985
    Number of units
    1
    Flooring type
    Concrete, Vinyl
    Building materials
    Shingle Siding, Clapboard, Steel Frame, Wood Frame
    Roof type
    Metal, Shingle
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Anne Erwin Real Estate

    Anne Erwin Sotheby's International Realty (207) 363-6640

    Listing agent Anne Erwin Real Estate (207) 363-6640

    Listing date Oct 28, 2025

    MLS# 1642061

    Copyright © 2025 Maine Real Estate Information System, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Versatile Commercial Property on Route 1

    A versatile property, formerly a dine-in/take-out restaurant with a seafood retail component, is available for acquisition. The property is strategically located along the epicurean mile on Route 1/State Road, at the entrance to Portsmouth, New Hampshire. The property encompasses 0.76 acres and includes a well-maintained building with an approximate area of 5,112 square feet, suitable for a range of commercial enterprises. A spacious parking lot accommodates 34 vehicles, with access from the front and rear. The building includes some kitchen inventory, public water and sewer services, a 600-amp electrical system, and LED lighting. The heating system uses propane gas. An exterior deck could be used for outdoor dining. The lower level includes additional storage space, a food preparation area, and office space. Located within the BL-1 (Business Local) zoning district, the property permits retail operations, hospitality services, building materials sales, garden supply stores, conference centers, and other commercial applications. The property is located in Kittery, ME 03904, in York County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Restaurants

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Kittery
    County
    York
    State
    Maine
    Longitude
    -70.7491923
    Latitude
    43.0906476

    Nearby Similar for Sale

    • Contact for pricing

      Kittery Assemblage: Mixed-Use Potential

      Three adjoining properties in Kittery with redevelopment potential.
      143 State Rd, Kittery, ME 03904
      View Details
    • $574,900
      1 SF

      Commercial Auto Shop For Sale

      High-visibility auto shop with dual rental potential on US Route 1.
      428 Us Route 1 S, Kittery, ME 03904
      View Details
    • $625,000

      Waterfront Co-working Office For Sale

      Combined commercial space operating as a co-working office.
      19 Bridge St, Kittery, ME 03904
      View Details
    • Contact for pricing
      113,353 SF

      Kittery Manufacturing and Warehouse Space

      113,353 SF manufacturing/warehouse on 27 acres near I-95.
      9 Cutts Rd, Kittery, ME 03904
      View Details
    • $2,900,000

      Waterfront Multi-Use Property Opportunity

      Multi-use property with commercial and apartment units in Kittery.
      60 Wallingford Sq, Kittery, ME 03904
      View Details
    • $1,499,000

      Kittery Commercial Property For Sale

      Commercial property available for sale in Kittery, Maine.
      98-100 And 100, Kittery, ME 03904
      View Details
    • $1,750,000
      4,856 SF

      Kittery Mixed-Use Commercial Property

      Prime Route 1 location, versatile 4.25 acres.
      432 Us Route 1, Kittery, ME 03904
      View Details
    • Contact for pricing
      113,353 SF

      Kittery Industrial Warehouse - 113,353 SF

      Prime Maine industrial space; I-95 access.
      9 Cutts Rd, Kittery, ME 03904
      View Details
    • $549,000
      2,208 SF

      Kittery Mixed-Use Commercial Property

      High-traffic Route 1 location, ample parking.
      424 Us Route 1, Kittery, ME 03904
      View Details

    FAQs

    What type of property is this?
    Restaurant - Prime location suitable for various commercial enterprises, previously a restaurant.
    Where is this restaurant located?
    The property is located at 57-59 State Rd Kittery, ME.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: - Prime location on Route 1/State Road, at the entrance to Portsmouth, NH.; - Versatile 5,112 sq ft building suitable for various commercial enterprises due to BL-1 zoning.; - Spacious parking lot with 34 vehicle capacity and convenient access.
    (207) 363-6640
    Request Owner's contact information
    57-59 State Rd Kittery, ME 03904
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    57-59 State Rd
    Kittery, ME 03904
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    57-59 State Rd Kittery, ME 03904
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Anne Erwin Real Estate
    (207) 363-6640
    Learn more
    Google sign-in failed. Please try again or use another login method.