Mixed-Use Property with
113-115 Saco Avenue Old Orchard Beach, ME 04064
113-115 Saco Avenue, Old Orchard Beach, ME, 04064
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For Sale
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Fully leased street-level restaurant plus two remodeled apartment units on Saco Avenue in Old Orchard Beach.
Property Size2,702 SF
Price / SF$268.32
Days on Market73
Property Features for 113-115 Saco Avenue
General Information
- Standard status
- Active
- Size
- 2,702 SF
- Property subtype
- Retail, Multifamily, Mixed Use
Building Details
- Year Built
- 2004
Listing agency
The Boulos Company Portland
(207) 400-6737
Listed by
Noah Stebbins · License #BR928219
Source
Crexi
Added: May 11 Updated: Jul 22 at 5:29PM Checked: Jul 22 at 5:29PM
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 The Boulos Company Portland
Investment Insights
Based on property information with market context.
This mixed-use property includes a street-level restaurant space that is fully leased, along with two remodeled residential apartment units. The first floor offers a fully-furnished unit with in-unit laundry, while the top floor features a 2-bedroom unit that is month-to-month, supporting an owner-user approach, a short-term rental setup, or a traditional rental.
Recent updates include upgraded plumbing (2021), newer pavement, and new or refreshed roofs and electrical throughout both buildings. The property is located along Saco Avenue in Old Orchard Beach, minutes from the beach, pier, shops, and Route 1.
The residential units are described as remodeled, and the top-floor unit’s month-to-month status provides flexibility for the next tenant on the residential side, while the restaurant space remains leased.
Recent updates include upgraded plumbing (2021), newer pavement, and new or refreshed roofs and electrical throughout both buildings. The property is located along Saco Avenue in Old Orchard Beach, minutes from the beach, pier, shops, and Route 1.
The residential units are described as remodeled, and the top-floor unit’s month-to-month status provides flexibility for the next tenant on the residential side, while the restaurant space remains leased.
Key Highlights
- 2004‑built mixed‑use property with fully leased street‑level restaurant space
- Two remodeled residential apartment units, including a fully furnished first‑floor unit
- Top‑floor 2‑bedroom unit is month‑to‑month, supporting owner‑user, short‑term rental, or traditional rental options
Local Financial Insights For Multifamily LT 5
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 | $68.7k | $25.44 |
| − Vacancy | −$3.4k | −$1.26 |
| EGI | $65.3k | $24.18 |
| − OpEx | −$19.6k | −$7.25 |
| NOI | $45.7k | $16.93 |
2,702 SF · lease $25.44/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$653.4K
$571.8K – $762.3K
NOI $45,740 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$596.5K
$522.0K – $696.0K
NOI $41,758 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$856.5K
$749.5K – $999.3K
NOI $59,956 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Fully leased street-level restaurant plus two remodeled apartment units on Saco Avenue in Old Orchard Beach.
Where is this conventional restaurant located?
The property is located at 113-115 Saco Avenue Old Orchard Beach, ME.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 2004‑built mixed‑use property with fully leased street‑level restaurant space; Two remodeled residential apartment units, including a fully furnished first‑floor unit; Top‑floor 2‑bedroom unit is month‑to‑month, supporting owner‑user, short‑term rental, or traditional rental options
