Convenience Store with Outdoor
For Sale
$599,000
157 Summer Street, Kennebunk, ME 04043
The operating shop serves breakfast and lunch and includes business equipment, a freezer, and a separate storage building.
Property Size1,842 SF
Price / SF$325.19
Days on Market1373
Property Features for 157 Summer Street
General Information
Standard status
Active
Size
1,842 SF
Property subtype
Commercial
Zoning
SR
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$3,572
Building Details
Building Size
1,842 SF
Year Built
1872
Stories
1
Listed By:
Dan Amero
(207) 762-8053
Source:
Amerorealty
Added: Jan 19, 2023
Changed: Oct 22
Last Checked: Oct 22 at 2:20PM
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 Dan Amero
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Investment Insights
Based on property information with market context.
This 1,842-SF convenience store dates to 1872 and has operated for more than a century. The property includes outdoor seating, a large freezer, and a storage building. Equipment needed for business operations is part of the offering, and the store serves breakfast and lunch alongside convenience items.
The property sits in Kennebunk’s historic district and is zoned SR.
The property sits in Kennebunk’s historic district and is zoned SR.
Key Highlights
- 1,842‑SF convenience store
- Built in 1872; business has operated for over 100 years
- Outdoor seating area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,369
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$447,380
$447.4K
Cap Rate 7%
$319,557
$319.6K
Cap Rate 9%
$248,544
$248.5K
Market Conditions
NOI Build-Up for 1,842 SF
Gross rent
$34.9K $18.96/SF
− Vacancy
−$3.0K −$1.61/SF
EGI
$32.0K $17.35/SF
− OpEx
−$9.6K −$5.20/SF
NOI
$22.4K $12.14/SF
Area
York County, ME
Vacancy
8.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$447,380
Cap Rate 7%
$319,557
Cap Rate 9%
$248,544
Alternative Uses
Best Use
Retail
$319.6K
$279.6K – $372.8K
NOI $22,369 @ 7.0% cap · market cap 3.73%
Second Best
Specialty Retail
$318.3K
$278.5K – $371.3K
NOI $22,278 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$583.9K
$510.9K – $681.2K
NOI $40,873 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04043, ME
11,536
Population
6,243
Households
1.8
Avg Household Size
52
Median Age
50%
College-Educated
97%
High-School Grad
35.1 sq mi
ZIP Area
329
Density / Sq Mi
$101,204
Median Household Income
$53,283
Median Earnings
$1,405
Median Rent
$460,600
Median Home Value
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - The operating shop serves breakfast and lunch and includes business equipment, a freezer, and a separate storage building.
Where is this grocery and convenience store located?
The property is located at 157 Summer Street Kennebunk, ME.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 1,842‑SF convenience store; Built in 1872; business has operated for over 100 years; Outdoor seating area
