Building Details

Building Size 1,648 SF

Year Built 1975

Buildings 2

Listing Agency: LB Realty Group u***@gmail.com Show Phone

Listed By: Cheryl Willey Show Phone

Source: Amerorealty

Added: May 4, 2024 Changed: Oct 31 Last Checked: Oct 31 at 2:27PM

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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 LB Realty Group

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Investment Insights

Based on property information with market context.

Two storefront buildings are included on a 1.69-acre parcel at 1250 and 1252 Roosevelt Trail in Raymond. The larger building contains approximately 1,200 square feet and dates to 1960; the second is approximately 448 square feet and was built in 1975, according to town records. The site is zoned Commercial, and both buildings use shared private water and septic systems.

The property fronts Route 302, with approximately 142.19 feet along the roadway.

Key Highlights

• Two buildings on 1.69+/- acres
• Approximately 1,200+/- square feet; built in 1960
• Approximately 448+/- square feet; built in 1975 per town records

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,235

Cap Rate

5.30%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$344,700 $344.7K

Cap Rate 7%

$246,214 $246.2K

Cap Rate 9%

$191,500 $191.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,648 SF

Gross rent

$29.7K $18.00/SF

− Vacancy

−$5.0K −$3.06/SF

EGI

$24.6K $14.94/SF

− OpEx

−$7.4K −$4.48/SF

NOI

$17.2K $10.46/SF

Area

Cumberland County, ME

Vacancy

17.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$344,700

Cap Rate 7%

$246,214

Cap Rate 9%

$191,500

Alternative Uses

Best Use

Retail

$246.2K

$215.4K – $287.3K (±1% cap)

NOI $17,235 @ 7.0% cap · market cap 5.30%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$453.0K

$396.3K – $528.5K (±1% cap)

NOI $31,707 @ 7.0% cap · market cap 9.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Parking Lot & Garage Building Supply Furniture & Home Goods (Bike/Boat/Book/etc) Store Bakery Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

137

Businesses Nearby

25k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 51% Shops & Services 49%

Dunkin' Donuts Dining

7,097 visits/mo 0.1 miles

Circle K Shops & Services

6,166 visits/mo 0.2 miles

Aroma Joe's Dining

5,681 visits/mo 0.1 miles

Family Dollar Shops & Services

5,635 visits/mo 0.2 miles

Tire Warehouse Shops & Services

601 visits/mo 0.4 miles

Demographics for 04071, ME

4,915

Population

4,004

Households

1.2

Avg Household Size

49

Median Age

50%

College-Educated

100%

High-School Grad

37.0 sq mi

ZIP Area

133

Density / Sq Mi

$86,932

Median Household Income

$60,200

Median Earnings

$1,385

Median Rent

$368,300

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Similar For Sale Nearby

See more

Two-Unit Duplex with Basement Garages

168 Webbs Mills Road, Raymond, ME 04071

$455,000

1,800 SF

View details

Gas Station with Absolute NNN Lease

1237 Roosevelt Trail, Raymond, ME 04071

$3,500,000

3,566 SF

View details

15-Unit Motel

1262 Roosevelt Trail, Raymond, ME 04071

$1,350,000

6,638 SF

View details

Frequently Asked Questions

What type of property is this?

Storefront property - Two structures share private water and septic on commercially zoned land.

Where is this storefront property located?

The property is located at 1250& 1252 Roosevelt Trail Raymond, ME.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: Two buildings on 1.69+/- acres; Approximately 1,200+/- square feet; built in 1960; Approximately 448+/- square feet; built in 1975 per town records