Historic Shop with Ice Cream
15 Western Avenue Kennebunk, ME 04043
For Sale
$3,195,000
Historic shop offers an ice cream window and includes 8 parking spaces, with updated living space on two upper levels.
Days on Market1105
Property Features for 15 Western Avenue
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Year Built
1865
Listing Agency:
Legacy Properties Sotheby's International Realty
(207) 967-0934
Listed By:
Randal Simon
Source:
Startpoint
Added: Jul 21, 2023
Changed: Jul 28
Last Checked: Jul 28 at 1:57PM
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 Legacy Properties Sotheby's International Realty
Investment Insights
Based on property information with market context.
This historic shop has served the community for many years and is currently set up for food shopping and prepared meals, along with coffee and beverages, an ice cream window, and liquor, beer, and wine. The property also includes a beautifully updated open-concept living space on the 2nd and 3rd floors, with decks looking out at the river.
Centrally located in the heart of the lower village, it sits between Kennebunkport and Kennebunk. The sale also includes 8 parking spaces, providing convenient customer access.
In addition to the storefront and upper-level living space, a 1952 Ford pick-up truck is included in the sale. The property can be owned as the current store or used to create a different venue.
Centrally located in the heart of the lower village, it sits between Kennebunkport and Kennebunk. The sale also includes 8 parking spaces, providing convenient customer access.
In addition to the storefront and upper-level living space, a 1952 Ford pick-up truck is included in the sale. The property can be owned as the current store or used to create a different venue.
Key Highlights
- Historic shop built in 1865 with an ice cream window
- Includes 8 parking spaces for customers and visitors
- Updated open‑concept living space on the 2nd and 3rd floors
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 | $147.5k | $18.96 |
| − Vacancy | −$12.5k | −$1.61 |
| EGI | $135.0k | $17.35 |
| − OpEx | −$40.5k | −$5.20 |
| NOI | $94.5k | $12.14 |
7,780 SF · lease $18.96/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.35M
$1.18M – $1.57M
NOI $94,479 @ 7.0% cap · market cap 2.96%
Second Best
Specialty Retail
$1.34M
$1.18M – $1.57M
NOI $94,096 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,635 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Historic shop offers an ice cream window and includes 8 parking spaces, with updated living space on two upper levels.
Where is this grocery and convenience store located?
The property is located at 15 Western Avenue Kennebunk, ME.
What is the asking price?
The asking price for this property is $3,195,000.
What are key features of this property?
This property features: Historic shop built in 1865 with an ice cream window; Includes 8 parking spaces for customers and visitors; Updated open‑concept living space on the 2nd and 3rd floors
