Building Details

Year built 1953

Listing Agency: Wells, Maine · Better Homes and Gardens Real Estate i***@Masiello.com Show Phone

Listed By: Gene Corey Show Phone

Added: Apr 12 Changed: Aug 24 Last Checked: Oct 11 at 3:06AM

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MLS# 1657521

Copyright © 2026 Better Homes and Gardens-The Masiello Group. 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 3,275-square-foot commercial property, built in 1953, combines a restaurant, take-out operation, and convenience store with an attached residence. The existing configuration supports multiple established uses within one property and includes access to town water and town sewer.

The property is located in York Beach, within walking distance of Cape Neddick Beach and Short Sands Beach. CD4 zoning provides a redevelopment path for five new residential homes without planning board approval, subject to the stated interpretation from York Code Enforcement.

Key Highlights

• 3,275 SF property with restaurant, take‑out, convenience store, and attached residence
• Built in 1953
• CD4 zoning supports redevelopment for 5 new residential homes

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,771

Cap Rate

4.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$795,420 $795.4K

Cap Rate 7%

$568,157 $568.2K

Cap Rate 9%

$441,900 $441.9K

Market Conditions

NOI Build-Up for 3,275 SF

Gross rent

$62.1K $18.96/SF

− Vacancy

−$5.3K −$1.61/SF

EGI

$56.8K $17.35/SF

− OpEx

−$17.0K −$5.20/SF

NOI

$39.8K $12.14/SF

Area

York County, ME

Vacancy

8.50%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$795,420

Cap Rate 7%

$568,157

Cap Rate 9%

$441,900

Alternative Uses

Best Use

Retail

$568.2K

$497.1K – $662.9K (±1% cap)

NOI $39,771 @ 7.0% cap · market cap 4.00%

Second Best

Specialty Retail

$565.9K

$495.1K – $660.2K (±1% cap)

NOI $39,610 @ 7.0% cap · market cap 3.98%

Theoretical Best

Office A

$1.04M

$908.4K – $1.21M (±1% cap)

NOI $72,671 @ 7.0% cap · market cap 7.30%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Auto Repair Shop Dental Office HVAC Service Plumbing Service Building Supply (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

48

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 03909, ME

10,938

Population

7,101

Households

1.5

Avg Household Size

53

Median Age

50%

College-Educated

98%

High-School Grad

35.2 sq mi

ZIP Area

311

Density / Sq Mi

$108,889

Median Household Income

$55,540

Median Earnings

$1,438

Median Rent

$589,400

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Existing food-service and convenience uses are combined with an attached residence and access to town water and sewer.

Where is this conventional restaurant located?

The property is located at 10 Shore Road York, ME.

What is the asking price?

The asking price for this property is $995,000.

What are key features of this property?

This property features: 3,275 SF property with restaurant, take‑out, convenience store, and attached residence; Built in 1953; CD4 zoning supports redevelopment for 5 new residential homes