Conventional Restaurant with Dining
For Sale
$850,000
743 N Berwick Road, Wells, ME 04090
Commercial Sale, Wells, ME
Property Size2,200 SF
Lot Size2.57 Acres
Price / SF$386.36
Days on Market73
Property Features for 743 N Berwick Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
005
Rooms
Basement
Basement
Partial, Unfinished
Accessibility
Accessible Approach with Ramp
Lot features
Near Turnpike/ Interstate
Standard status
Active
Size
2,200 SF
Lot size
2.57 Acres
Utilities
Cooling system
Central Air
Building Details
Year built
1986
Flooring type
Laminate, Vinyl, Tile
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
RE/MAX Realty One · RE/MAX International
(207) 646-4546
Listed By:
Dawson Sibley · License #SA924953
(207) 333-0400
Added: Jul 11
Changed: Sep 14
Last Checked: Sep 21 at 11:06AM
MLS# 1657031
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 2,200-square-foot conventional restaurant property in Wells is currently configured for pizza service, with a spacious dining area and fully equipped kitchen. The building includes laminate, tile, and vinyl flooring, central air, vinyl siding, and a shingle roof. A basement provides additional interior space, while an accessible approach with ramp supports entry. Built in 1986, the property sits on 2.57 acres and includes 28 parking spaces.
Located at 743 N Berwick Road in Wells, Maine, the property offers a restaurant-oriented commercial setting with existing customer, kitchen, and parking infrastructure. Zoning is designated 005.
Located at 743 N Berwick Road in Wells, Maine, the property offers a restaurant-oriented commercial setting with existing customer, kitchen, and parking infrastructure. Zoning is designated 005.
Key Highlights
- 2.57‑acre restaurant property at 743 N Berwick Road, Wells, ME 04090
- 2,200 square feet configured as a pizza restaurant
- Spacious dining area and fully equipped kitchen
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
$26,608
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
3.13%
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%
$532,160
$532.2K
Cap Rate 7%
$380,114
$380.1K
Cap Rate 9%
$295,644
$295.6K
Market Conditions
NOI Build-Up for 2,200 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
$39.6K $18.00/SF
− Vacancy
−$4.1K −$1.87/SF
EGI
$35.5K $16.13/SF
− OpEx
−$8.9K −$4.03/SF
NOI
$26.6K $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%
$532,160
Cap Rate 7%
$380,114
Cap Rate 9%
$295,644
Alternative Uses
Best Use
Specialty Retail
$380.1K
$332.6K – $443.5K
NOI $26,608 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$697.4K
$610.2K – $813.6K
NOI $48,817 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Pizza restaurant layout with equipped kitchen, customer dining space, ramp access, and on-site parking.
Where is this conventional restaurant located?
The property is located at 743 N Berwick Road Wells, ME.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 2.57‑acre restaurant property at 743 N Berwick Road, Wells, ME 04090; 2,200 square feet configured as a pizza restaurant; Spacious dining area and fully equipped kitchen
