137 Longwoods Road, Cumberland, ME 04021

Building Details

Building Size 2,110 SF More

Year Built 1975 More

Listing Agency: The Dunham Group m***@dunham-group.com

Listed By: Sylas Hatch · License #918821 Show Phone

Source: Amerorealty

Added: Feb 14, 2023 Changed: Nov 7 Last Checked: Nov 8 at 3:17PM

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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 The Dunham Group

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 2,110-square-foot commercial kitchen property was built in 1975 and has been upgraded for food production. Existing features include a walk-in freezer, a commercial hood, and RFP wall systems. Kitchen equipment is also available.

The property is on Route 9, south of Cumberland’s town center. Its HC zoning allows uses that include a commercial kitchen, restaurant, daycare, boarding kennel, and veterinary operation.

Key Highlights

• 2,110‑square‑foot commercial kitchen property
• Food‑production upgrades include a walk‑in freezer, commercial hood, and RFP wall systems
• HC zoning allows commercial kitchen, restaurant, daycare, boarding kennel, and veterinary uses

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,643

Cap Rate

5.25%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$472,860 $472.9K

Cap Rate 7%

$337,757 $337.8K

Cap Rate 9%

$262,700 $262.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,110 SF

Gross rent

$38.0K $18.00/SF

− Vacancy

−$6.5K −$3.06/SF

EGI

$31.5K $14.94/SF

− OpEx

−$7.9K −$3.74/SF

NOI

$23.6K $11.21/SF

Area

Cumberland County, ME

Vacancy

17.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$472,860

Cap Rate 7%

$337,757

Cap Rate 9%

$262,700

Alternative Uses

Best Use

Specialty Retail

$337.8K

$295.5K – $394.1K (±1% cap)

NOI $23,643 @ 7.0% cap · market cap 5.25%

Second Best

Retail

$315.2K

$275.8K – $367.8K (±1% cap)

NOI $22,066 @ 7.0% cap · market cap 4.90%

Theoretical Best

Office A

$579.9K

$507.4K – $676.6K (±1% cap)

NOI $40,595 @ 7.0% cap · market cap 9.02%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Commercial kitchens

Suggested Use

Top Pick Real Estate Agency Dental Office Garden Center Restaurant Gym & Fitness Center Food Market

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

Lease Details

Yes

Commercial hood

Location Intelligence

Trade Area within ½ mile

30

Businesses Nearby

Explore this area Business Placement

Demographics for 04021, ME

6,729

Population

2,428

Households

2.8

Avg Household Size

42

Median Age

70%

College-Educated

99%

High-School Grad

20.5 sq mi

ZIP Area

328

Density / Sq Mi

$145,833

Median Household Income

$70,304

Median Earnings

$506,800

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

Frequently Asked Questions

What type of property is this?

Commercial kitchen - HC zoning permits a range of uses, including food service, daycare, veterinary services, and kennel operations.

Where is this commercial kitchen located?

The property is located at 137 Longwoods Road Cumberland, ME.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: 2,110‑square‑foot commercial kitchen property; Food‑production upgrades include a walk‑in freezer, commercial hood, and RFP wall systems; HC zoning allows commercial kitchen, restaurant, daycare, boarding kennel, and veterinary uses