Single-Level Commercial
For Sale
$415,000
874 Sanford Road, Wells, ME 04090
COMMERCIAL - Wells, ME
Property Size1,100 SF
Lot Size0.98 Acres
Price / SF$377.27
Days on Market26
Property Features for 874 Sanford Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RC
Rooms
Basement
Parking features
Off Street
Basement
Walk-Out Access, Unfinished, Full
Lot features
Near Turnpike/ Interstate, Near Shopping
Standard status
Active
Size
1,100 SF
Lot size
0.98 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2227
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Heat Pump (Heating), Electric (Heating), Baseboard
Cooling system
Heat Pump
Water source
Private, Well
Building Details
Year built
1965
Flooring type
Laminate, Vinyl, Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
Duston Leddy Real Estate
(207) 289-2291
Listed By:
April Cohen
(207) 831-0495
Added: Jul 12
Changed: Aug 4
Last Checked: Aug 6 at 11:06AM
MLS# 1666919
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.
The property is a commercially zoned single-level building totaling approximately 1,100 square feet. It is currently configured as a 3-bedroom, 2-bath residence, and includes an updated interior layout. Exterior features include a deck and a generator hookup, along with heat pumps.
The site consists of a large lot of approximately 0.98 acres and is located in Wells, near major routes and beaches. The address is 874 Sanford Road.
This configuration can be useful for tenants or buyers looking for a property that is already improved, with systems like heat pumps and backup power preparation. Because the building is in a commercial zoning district, it may offer flexibility for various commercial uses, subject to municipal approvals.
The site consists of a large lot of approximately 0.98 acres and is located in Wells, near major routes and beaches. The address is 874 Sanford Road.
This configuration can be useful for tenants or buyers looking for a property that is already improved, with systems like heat pumps and backup power preparation. Because the building is in a commercial zoning district, it may offer flexibility for various commercial uses, subject to municipal approvals.
Key Highlights
- Commercially zoned Wells property with an updated 1,100± SF single‑level building
- Currently configured as a 3‑bedroom, 2‑bath residence
- Heat pumps for heating and cooling, plus baseboard and electric heating
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
$17,000
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
4.10%
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%
$340,000
$340.0K
Cap Rate 7%
$242,857
$242.9K
Cap Rate 9%
$188,889
$188.9K
Market Conditions
NOI Build-Up for 1,100 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
$32.6K $29.64/SF
− Vacancy
−$1.7K −$1.54/SF
EGI
$30.9K $28.10/SF
− OpEx
−$13.9K −$12.64/SF
NOI
$17.0K $15.45/SF
Area
York County, ME
Vacancy
5.20%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
45.00%
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%
$340,000
Cap Rate 7%
$242,857
Cap Rate 9%
$188,889
Alternative Uses
Best Use
Apartment 5plus
$242.9K
$212.5K – $283.3K
NOI $17,000 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$348.7K
$305.1K – $406.8K
NOI $24,409 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Explore this area
Business Placement
Demographics for 04090, ME
11,314
Population
9,590
Households
1.2
Avg Household Size
53
Median Age
38%
College-Educated
92%
High-School Grad
57.7 sq mi
ZIP Area
196
Density / Sq Mi
$83,900
Median Household Income
$47,928
Median Earnings
$1,313
Median Rent
$445,800
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - Updated single-level building with heat pumps and generator hookup on a nearly one-acre commercial lot.
Where is this single family property located?
The property is located at 874 Sanford Road Wells, ME.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Commercially zoned Wells property with an updated 1,100± SF single‑level building; Currently configured as a 3‑bedroom, 2‑bath residence; Heat pumps for heating and cooling, plus baseboard and electric heating
