Mixed-Use Property on US Route
424 US Route 1 Kittery, ME 03904
424 US Route 1, Kittery, ME, 03904
$499,000
For Sale
$499,000
Mixed-use property with high traffic count and ample parking.
Property Size2,208 SF
Lot Size0.50 Acres
Price / SF$225
Days on Market844
Property Features for 424 US Route 1
General Information
- Standard status
- Active
- Size
- 2,208 SF
- Lot size
- 0.50 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1999
Listing Agency
Coldwell Banker Realty
(207) 514-3499
Listed by
Julie Trask
(207) 514-3499
Source
Exitrealty
Added: Mar 25, 2024 Checked: Jul 16 at 4:31 am
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This mixed-use property is located on US Route 1 in Kittery. The property, previously used as a car wash, features a structure consisting of three large 12-foot tall bays and just over 300 square feet of office space. It is situated on a half-acre parcel with ample parking. The location offers convenient access to Route 1, approximately one mile from the I-95 on/off ramp. The property is in close proximity to Portsmouth, NH, Portsmouth Naval Shipyard, Route 1 Kittery Shopping Outlets, and York/Ogunquit beaches, and approximately one hour from the metropolitan Boston area. The high traffic count of 15,000 per day provides opportunities for various types of businesses.
Key Highlights
- High‑traffic location on US Route 1 (15,000 cars/day) ideal for business.
- Mixed‑use property with 3 large (12' tall) bays and office space.
- Ample parking on a half‑acre parcel.
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 | $41.9k | $18.96 |
| − Vacancy | −$3.6k | −$1.61 |
| EGI | $38.3k | $17.35 |
| − OpEx | −$11.5k | −$5.20 |
| NOI | $26.8k | $12.14 |
2,208 SF · lease $18.96/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$383.1K
$335.2K – $446.9K
NOI $26,814 @ 7.0% cap · market cap 5.37%
Second Best
Specialty Retail
$381.5K
$333.8K – $445.1K
NOI $26,705 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$699.9K
$612.4K – $816.6K
NOI $48,995 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Car washes
Similar For Sale Nearby
FAQs
What type of property is this?
Car wash - Mixed-use property with high traffic count and ample parking.
Where is this car wash located?
The property is located at 424 US Route 1 Kittery, ME.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: High‑traffic location on US Route 1 (15,000 cars/day) ideal for business.; Mixed‑use property with 3 large (12' tall) bays and office space.; Ample parking on a half‑acre parcel.
