Former Gas Station with
1115 Main Street Sanford, ME 04073
1115 Main Street, Sanford, ME, 04073
$399,000
For Sale
$399,000
Tanks have been removed in compliance with DEP at this former gas station on Main Street in Sanford.
Property Size1,248 SF
Price / SF$319.71
Days on Market125
Property Features for 1115 Main Street
General Information
- Standard status
- Active
- Size
- 1,248 SF
- Property subtype
- Commercial
Listing agency
Better Homes & Gardens Real Estate/The Masiello Group
Listed by
John Caramihalis
(603) 433-3350
Source
Greatislandrealty
Added: Mar 20 Updated: Jul 22 at 2:40AM Checked: Jul 22 at 2:40AM
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 Better Homes & Gardens Real Estate/The Masiello Group
Investment Insights
Based on property information with market context.
This former gas station offers strong street visibility and flexibility, with tanks removed in compliance with DEP. The property includes existing structures that may be used as-is or redeveloped for other allowed uses.
Located on Main Street in Sanford, the site sits in a downtown setting near shopping and within a retail strip context.
The combination of an already-developed site and multiple allowed use options can support a range of redevelopment or continued use approaches, subject to applicable requirements.
Located on Main Street in Sanford, the site sits in a downtown setting near shopping and within a retail strip context.
The combination of an already-developed site and multiple allowed use options can support a range of redevelopment or continued use approaches, subject to applicable requirements.
Key Highlights
- Former gas station on Main Street in Sanford
- Underground tanks removed in compliance with DEP
- Property has many uses allowed
Local Financial Insights For 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 | $23.7k | $18.96 |
| − Vacancy | −$2.0k | −$1.61 |
| EGI | $21.7k | $17.35 |
| − OpEx | −$6.5k | −$5.20 |
| NOI | $15.2k | $12.14 |
1,248 SF · lease $18.96/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$216.5K
$189.5K – $252.6K
NOI $15,156 @ 7.0% cap · market cap 3.80%
Second Best
Specialty Retail
$215.6K
$188.7K – $251.6K
NOI $15,094 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$395.6K
$346.2K – $461.6K
NOI $27,693 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Gas stations
Similar For Sale Nearby
FAQs
What type of property is this?
Gas station - Tanks have been removed in compliance with DEP at this former gas station on Main Street in Sanford.
Where is this gas station located?
The property is located at 1115 Main Street Sanford, ME.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Former gas station on Main Street in Sanford; Underground tanks removed in compliance with DEP; Property has many uses allowed
