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    Turnkey Commercial Property in Fairfield Title is generated by Realmo AI

    114 Norridgewock Road, Fairfield, ME 04937

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    Claim this Listing
    New
    For Sale
    $129,000

    COMMERCIAL - Fairfield, ME

    Type:Retail
    Property size:
    280 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $460/SF
    Added:
    May 12, 2026
    Days on Market:
    2
    Last Refresh:
    May 13 at 11:06 pm

    Property Features for 114 Norridgewock Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Zoning
    Res/Comm
    Parking features
    Off Street
    Standard status
    Active
    Size
    280 SF
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    782

    Utilities

    Sewer type
    Private Sewer
    Heating system
    Electric (Heating)
    Water source
    Public

    Building Details

    Year built
    2009
    Flooring type
    Vinyl, Wood
    Building materials
    Wood Frame, Wood Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    David Demeo

    Listing agent David Demeo

    Listing office RE/MAX Riverside 1 Bowdoin Mill Island Suite 101, Topsham, ME

    Listing date May 12, 2026

    MLS# 1661612

    Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey commercial property ideal for food service or takeout.
    • High‑exposure location along a well‑traveled corridor.
    • Existing food‑service layout with a proven history of use.
    • Suitable for various concepts (BBQ, ice cream, seafood, etc.).
    • Easy access and potential for outdoor seating or customer pickup.
    • Built in 2009 with wood frame and siding, vinyl and wood flooring.

    Overview

    Located in Fairfield, Maine, this commercial property presents an opportunity for a food service business or seasonal takeout operation. The property, currently operating as a BBQ takeout restaurant, is suitable for various concepts, including barbecue, ice cream, hot dogs, burgers, seafood, sandwiches, catering, or a food truck commissary. The site features visibility and easy access. The property has potential for outdoor seating or customer pickup. The property is 280 square feet and sits on a 1-acre lot. The zoning is Res/Comm. The property is located along a well-traveled corridor. It offers a chance to establish a business in a high-exposure location with an existing food-service layout and a history of use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Pung Hill BBQ Restaurant

    Suggested Use

    Restaurant Building Supply Dental Office Kitchen & Bath Showroom HVAC Service Garden Center Daycare Center Plumbing Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fairfield
    County
    Somerset
    State
    Maine
    Longitude
    -69.652041
    Latitude
    44.588212

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    FAQs

    What type of property is this?
    Restaurant - Commercial property ideal for food service with high visibility.
    Where is this restaurant located?
    The property is located at 114 Norridgewock Road Fairfield, ME.
    What is the asking price?
    The asking price for this property is $129,000.
    What are key features of this property?
    This property features: Turnkey commercial property ideal for food service or takeout.; High‑exposure location along a well‑traveled corridor.; Existing food‑service layout with a proven history of use.
    (207) 295-3293
    We can help!
    Listing Contact
    David Demeo
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    114 Norridgewock Road, Fairfield, ME 04937
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