Former Gas Station Retail
1115 Main Street Sanford, ME 04073
For Sale
Contact for pricing
Former gas station on Main Street with DEP-compliant tank removal and multiple redevelopment use possibilities.
Property Size1,200 SF
Price / SF$354.17
Days on Market122
Property Features for 1115 Main Street
General Information
- Standard status
- Active
- Size
- 1,200 SF
- Property subtype
- RETAIL
Listing Agency:
BHGRE - The Masiello Group | Sanford
(207) 651-0242
Listed By:
John Caramihalis
(207) 651-0242
Source:
Moodyscre
Added: Mar 24
Changed: Jul 23
Last Checked: Jul 23 at 1:45AM
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 BHGRE - The Masiello Group | Sanford
Investment Insights
Based on property information with market context.
This former gas station property offers a versatile commercial site on Main Street. The underground tanks have been removed in compliance with DEP, and the property includes existing structures that can be utilized or redeveloped for other uses.
The location is positioned for strong street-level presence on Main Street in Sanford, ME, supporting a wide range of potential commercial configurations based on allowed uses.
For buyers and brokers looking for a flexible site, the asset’s current improvements and the option to redevelop provide multiple paths forward while maintaining DEP compliance following tank removal.
The location is positioned for strong street-level presence on Main Street in Sanford, ME, supporting a wide range of potential commercial configurations based on allowed uses.
For buyers and brokers looking for a flexible site, the asset’s current improvements and the option to redevelop provide multiple paths forward while maintaining DEP compliance following tank removal.
Key Highlights
- Former gas station on Main Street
- DEP‑compliant removal of underground tanks
- Multiple redevelopment use possibilities, using existing structures or redeveloping
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 | $22.8k | $18.96 |
| − Vacancy | −$1.9k | −$1.61 |
| EGI | $20.8k | $17.35 |
| − OpEx | −$6.2k | −$5.20 |
| NOI | $14.6k | $12.14 |
1,200 SF · lease $18.96/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$208.2K
$182.2K – $242.9K
NOI $14,573 @ 7.0% cap · market cap 3.43%
Second Best
Specialty Retail
$207.3K
$181.4K – $241.9K
NOI $14,514 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$380.4K
$332.9K – $443.8K
NOI $26,628 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Gas stations
FAQs
What type of property is this?
Gas station - Former gas station on Main Street with DEP-compliant tank removal and multiple redevelopment use possibilities.
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 $425,000.
What are key features of this property?
This property features: Former gas station on Main Street; DEP‑compliant removal of underground tanks; Multiple redevelopment use possibilities, using existing structures or redeveloping
