River-Front Free-Standing
For Sale
$995,000
11 Elm Street, Biddeford, ME 04005
Commercial Sale, Biddeford, ME
Property Size3,935 SF
Lot Size0.56 Acres
Price / SF$252.86
Days on Market44
Property Features for 11 Elm Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
B1
Lot features
Waterfront, Water View, Public Transport Access, Near Turnpike/ Interstate, Downtown, Business District, Bus Line
Standard status
Active
Size
3,935 SF
Lot size
0.56 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7548
Utilities
Sewer type
Public Sewer
Heating system
Oil, Forced Air
Cooling system
Central Air
Water source
Public
Water front features
Stream
Building Details
Year built
1972
Flooring type
Vinyl, Carpet
Building materials
Wood Siding
Roof type
Shingle
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(207) 282-5988
Listed By:
Steven Liautaud
(207) 604-0655
Added: Jul 11
Changed: Aug 19
Last Checked: Aug 23 at 12:06PM
MLS# 1658022
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.
Free-standing restaurant property offering Saco River frontage and a largely flexible site for restaurant, hospitality, or redevelopment uses. The building is approximately 3,959± SF and sits on a 0.56-acre lot. Constructed in 1972 with wood siding, the interior includes vinyl and carpet flooring, oil heat with forced air, and central air conditioning. Public water and public sewer are available.
The property is positioned on highly visible Elm Street with frontage along the Saco River. Traffic counts are approximately 12,400± vehicles per day. A large on-site parking lot is included, with potential for higher-volume use and drive-thru configuration. The site is also surrounded by redevelopment, including Pepperell Mill Campus and Lincoln Mill, along with continued Main Street revitalization.
Zoned B1, the property’s layout and prominent frontage support a range of neighborhood-oriented food and service concepts, as well as redevelopment strategies consistent with the existing site improvements.
The property is positioned on highly visible Elm Street with frontage along the Saco River. Traffic counts are approximately 12,400± vehicles per day. A large on-site parking lot is included, with potential for higher-volume use and drive-thru configuration. The site is also surrounded by redevelopment, including Pepperell Mill Campus and Lincoln Mill, along with continued Main Street revitalization.
Zoned B1, the property’s layout and prominent frontage support a range of neighborhood-oriented food and service concepts, as well as redevelopment strategies consistent with the existing site improvements.
Key Highlights
- Approximately 3,959± SF free‑standing restaurant building on a 0.56‑acre lot
- Saco River frontage and waterfront features
- Highly visible Elm Street location with traffic counts of approximately 12,400± vehicles per day
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
$47,592
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
4.78%
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%
$951,840
$951.8K
Cap Rate 7%
$679,886
$679.9K
Cap Rate 9%
$528,800
$528.8K
Market Conditions
NOI Build-Up for 3,935 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
$70.8K $18.00/SF
− Vacancy
−$7.4K −$1.87/SF
EGI
$63.5K $16.13/SF
− OpEx
−$15.9K −$4.03/SF
NOI
$47.6K $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%
$951,840
Cap Rate 7%
$679,886
Cap Rate 9%
$528,800
Alternative Uses
Best Use
Specialty Retail
$679.9K
$594.9K – $793.2K
NOI $47,592 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,316 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12,400 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,492
Businesses Nearby
136k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Groceries 20%
Apparel 17%
Dining 15%
Shaw's Supermarket
Groceries
26,960 visits/mo
0.4 miles
Reny's
Apparel
23,122 visits/mo
0.4 miles
Dunkin' Donuts
Dining
9,783 visits/mo
0.3 miles
7-Eleven
Shops & Services
9,374 visits/mo
0.5 miles
Mobil
Shops & Services
9,313 visits/mo
0.2 miles
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
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 - Free-standing restaurant on Elm Street with Saco River frontage, central air, and public water and sewer in B1 zoning.
Where is this conventional restaurant located?
The property is located at 11 Elm Street Biddeford, 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: Approximately 3,959± SF free‑standing restaurant building on a 0.56‑acre lot; Saco River frontage and waterfront features; Highly visible Elm Street location with traffic counts of approximately 12,400± vehicles per day
