Fully Renovated Retail
110 New Gorham Road Westbrook, ME 04092
For Sale
$850,000
Fully renovated retail building with an open layout and built-in refrigeration, designed for food and beverage or retail use.
Property Size3,244 SF
Price / SF$262.02
Days on Market88
Property Features for 110 New Gorham Road
General Information
Standard status
Active
Size
3,244 SF
Property subtype
Commercial
Building Details
Year Built
1950
Listing Agency:
Coastal Pine Real Estate,LLC
Listed By:
Kathryn Treem
(603) 433-3350
Source:
Greatislandrealty
Added: May 3
Changed: Jul 26
Last Checked: Jul 28 at 11:29PM
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 Coastal Pine Real Estate,LLC
Investment Insights
Based on property information with market context.
This fully renovated retail building offers a turnkey interior built out for food and beverage or retail use. The space features an open floor plan along with a walk-in cooler, extensive refrigeration, and prepared food areas, which can help reduce the buildout required for an operator or business looking to launch with existing infrastructure. The property is currently configured around its prior grocery concept layout.
Located in the business district downtown area of Westbrook, the building is described as being near shopping and near the turnpike/interstate, supporting convenient access for customers and staff.
With its renovation and existing refrigeration and food-prep improvements, the property is well suited for a tenant seeking a ready-to-operate retail environment where refrigeration and prepared food capabilities are already in place.
Located in the business district downtown area of Westbrook, the building is described as being near shopping and near the turnpike/interstate, supporting convenient access for customers and staff.
With its renovation and existing refrigeration and food-prep improvements, the property is well suited for a tenant seeking a ready-to-operate retail environment where refrigeration and prepared food capabilities are already in place.
Key Highlights
- Fully renovated retail building with 3,244 SF at 110 New Gorham Road in Westbrook (business district/downtown).
- Open floor plan previously used for Mainely Provisions, a neighborhood grocery concept.
- Built‑in food‑ready setup includes a walk‑in cooler and extensive refrigeration.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.4k | $18.00 |
| − Vacancy | −$9.9k | −$3.06 |
| EGI | $48.5k | $14.94 |
| − OpEx | −$12.1k | −$3.74 |
| NOI | $36.3k | $11.21 |
3,244 SF · lease $18.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$519.3K
$454.4K – $605.8K
NOI $36,349 @ 7.0% cap · market cap 4.28%
Second Best
Retail
$484.7K
$424.1K – $565.4K
NOI $33,926 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$891.6K
$780.2K – $1.04M
NOI $62,413 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Fully renovated retail building with an open layout and built-in refrigeration, designed for food and beverage or retail use.
Where is this grocery and convenience store located?
The property is located at 110 New Gorham Road Westbrook, 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: Fully renovated retail building with 3,244 SF at 110 New Gorham Road in Westbrook (business district/downtown).; Open floor plan previously used for Mainely Provisions, a neighborhood grocery concept.; Built‑in food‑ready setup includes a walk‑in cooler and extensive refrigeration.
