Mixed-Use Restaurant
For Sale
$1,595,000
110 Alfred Road, Kennebunk, ME 04043
A separate two-bedroom residence accompanies the dining space and seasonal outdoor terrace.
Property Size5,384 SF
Price / SF$296.25
Days on Market748
Property Features for 110 Alfred Road
General Information
Standard status
Active
Size
5,384 SF
Property subtype
Commercial
Zoning
WKV
Restaurant
Seating Capacity
83
Patio
Yes
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$12,224
Building Details
Building Size
5,384 SF
Year Built
1843
Buildings
1
Listing Agency:
The Boulos Company
(207) 772-1333
Listed By:
Christopher Gallagher
(207) 553-1728
Source:
Amerorealty
Added: Oct 15, 2024
Changed: Oct 31
Last Checked: Oct 31 at 2:23PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Boulos Company
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Investment Insights
Based on property information with market context.
The property combines a 4,584±-square-foot restaurant with an 800±-square-foot residential unit containing two bedrooms and one and a half baths. The restaurant has 83 seats and a terrace for seasonal dining. The Village Tavern has served casual and fine dining here since 2012, and the site is zoned WKV.
Set on a corner lot, the property includes on-site parking and is located half a mile from the Maine Turnpike’s Exit 25. The building dates to 1843.
Set on a corner lot, the property includes on-site parking and is located half a mile from the Maine Turnpike’s Exit 25. The building dates to 1843.
Key Highlights
- 4,584±-square‑foot restaurant with 83 seats
- 800±-square‑foot residential unit with two bedrooms and one and a half baths
- Terrace accommodates seasonal outdoor dining
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,869
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,337,380
$1.3M
Cap Rate 7%
$955,271
$955.3K
Cap Rate 9%
$742,989
$743.0K
Market Conditions
NOI Build-Up for 5,384 SF
Gross rent
$116.3K $21.60/SF
− Vacancy
−$9.3K −$1.73/SF
EGI
$107.0K $19.87/SF
− OpEx
−$40.1K −$7.45/SF
NOI
$66.9K $12.42/SF
Area
York County, ME
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,337,380
Cap Rate 7%
$955,271
Cap Rate 9%
$742,989
Alternative Uses
Best Use
Mixed Use
$955.3K
$835.9K – $1.11M
NOI $66,869 @ 7.0% cap · market cap 4.19%
Second Best
Specialty Retail
$930.3K
$814.0K – $1.09M
NOI $65,118 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$1.71M
$1.49M – $1.99M
NOI $119,469 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
16k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 83%
Hotels & Casinos 17%
Shell
Shops & Services
13,591 visits/mo
0.5 miles
Hampton Inn Kennebunk-Kennebunkport
Hotels & Casinos
2,712 visits/mo
0.4 miles
Demographics for 04043, ME
11,536
Population
6,243
Households
1.8
Avg Household Size
52
Median Age
50%
College-Educated
97%
High-School Grad
35.1 sq mi
ZIP Area
329
Density / Sq Mi
$101,204
Median Household Income
$53,283
Median Earnings
$1,405
Median Rent
$460,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A separate two-bedroom residence accompanies the dining space and seasonal outdoor terrace.
Where is this mixed-use property located?
The property is located at 110 Alfred Road Kennebunk, ME.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 4,584±-square‑foot restaurant with 83 seats; 800±-square‑foot residential unit with two bedrooms and one and a half baths; Terrace accommodates seasonal outdoor dining
