Conventional Restaurant
For Sale
$525,000
14 Heathwood Drive, Windham, ME 04062
Building and grounds are offered with an existing triple-net lease through July 1, 2027.
Property Size2,501 SF
Price / SF$209.92
Days on Market186
Property Features for 14 Heathwood Drive
General Information
Standard status
Active
Size
2,501 SF
Property subtype
Commercial
Lease Term
[]
Building Details
Year Built
1976
Tenancy
Single
Listing Agency:
Big Bear Real Estate Company
Listed By:
Michael Willette
(207) 536-4222
Source:
Portsiderealestategroup
Added: Feb 25
Changed: Aug 30
Last Checked: Aug 30 at 3:43PM
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 Big Bear Real Estate Company
Investment Insights
Based on property information with market context.
This 2,501-square-foot conventional restaurant building and its grounds are being offered separately from the business operating at the property. Constructed in 1976, the asset includes an existing tenant lease that will transfer to the new owner at closing.
The lease is structured on a triple-net basis and runs through July 1, 2027. The property is located at 14 Heathwood Drive in Windham, Maine, providing an established commercial setting for the building and its current tenancy.
The lease is structured on a triple-net basis and runs through July 1, 2027. The property is located at 14 Heathwood Drive in Windham, Maine, providing an established commercial setting for the building and its current tenancy.
Key Highlights
- 2,501‑square‑foot conventional restaurant building
- Building and grounds offered without the existing operating business
- Existing tenant lease transfers to the new owner
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,024
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$560,480
$560.5K
Cap Rate 7%
$400,343
$400.3K
Cap Rate 9%
$311,378
$311.4K
Market Conditions
NOI Build-Up for 2,501 SF
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.
Gross rent
$45.0K $18.00/SF
− Vacancy
−$7.7K −$3.06/SF
EGI
$37.4K $14.94/SF
− OpEx
−$9.3K −$3.74/SF
NOI
$28.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$560,480
Cap Rate 7%
$400,343
Cap Rate 9%
$311,378
Alternative Uses
Best Use
Specialty Retail
$400.3K
$350.3K – $467.1K
NOI $28,024 @ 7.0% cap · market cap 5.34%
Second Best
Retail
$373.6K
$326.9K – $435.9K
NOI $26,155 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$687.4K
$601.5K – $802.0K
NOI $48,118 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
277
Businesses Nearby
13k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 96%
Shops & Services 4%
Aroma Joe's
Dining
10,579 visits/mo
0.5 miles
Domino's Pizza
Dining
2,166 visits/mo
0.0 miles
Automill Llc
Shops & Services
597 visits/mo
0.4 miles
Demographics for 04062, ME
18,464
Population
8,695
Households
2.1
Avg Household Size
42
Median Age
42%
College-Educated
98%
High-School Grad
46.7 sq mi
ZIP Area
395
Density / Sq Mi
$98,946
Median Household Income
$57,505
Median Earnings
$1,189
Median Rent
$370,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Building and grounds are offered with an existing triple-net lease through July 1, 2027.
Where is this conventional restaurant located?
The property is located at 14 Heathwood Drive Windham, ME.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,501‑square‑foot conventional restaurant building; Building and grounds offered without the existing operating business; Existing tenant lease transfers to the new owner
