Building Details

Year Built 1961

Listing Agency: Compass New England,LLC

Listed By: Robert Marchewka · License #032472 Show Phone

Source: Aultcommercial

Added: Jun 30 Changed: Oct 13 Last Checked: Oct 14 at 11:21PM

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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 Compass New England,LLC

Investment Insights

Based on property information with market context.

This highly visible retail building includes two separate houses on two separate lots. The offering also reflects a total of three lots combined under the property’s acreage.

The property is located at 143 State Road in Kittery, ME. With its multi-lot configuration and prominent retail-oriented character, the building supports a range of commercial possibilities, including retail, office, restaurant use, or redevelopment.

All information provided here is based on the stated layout and site configuration, including the existence of two houses on two lots and the combined total acreage for the three lots.

Key Highlights

• Retail building on two separate houses on two separate lots
• Two separate lots with a total of 1.45 acres for multiple‑use or redevelopment options
• Built in 1961

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$54,647

Cap Rate

3.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,092,940 $1.1M

Cap Rate 7%

$780,671 $780.7K

Cap Rate 9%

$607,189 $607.2K

Market Conditions

NOI Build-Up for 4,500 SF

Gross rent

$85.3K $18.96/SF

− Vacancy

−$7.3K −$1.61/SF

EGI

$78.1K $17.35/SF

− OpEx

−$23.4K −$5.20/SF

NOI

$54.6K $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%

$1,092,940

Cap Rate 7%

$780,671

Cap Rate 9%

$607,189

Alternative Uses

Best Use

Retail

$780.7K

$683.1K – $910.8K (±1% cap)

NOI $54,647 @ 7.0% cap · market cap 3.12%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.43M

$1.25M – $1.66M (±1% cap)

NOI $99,853 @ 7.0% cap · market cap 5.71%

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

Property Analytics

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Current Use

Walsh's Furniture Furniture & Home Goods

Suggested Use

Top Pick Kitchen & Bath Showroom Bakery Plumbing Service (Bike/Boat/Book/etc) Store Carpet & Flooring Store Electrical Service

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

298

Businesses Nearby

10k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

7-Eleven Shops & Services

10,466 visits/mo 0.1 miles

Demographics for 03904, ME

8,148

Population

4,375

Households

1.9

Avg Household Size

42

Median Age

40%

College-Educated

96%

High-School Grad

10.9 sq mi

ZIP Area

748

Density / Sq Mi

$74,551

Median Household Income

$50,752

Median Earnings

$1,458

Median Rent

$415,700

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

Questions? Ask Rey

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What type of property is this? Where is this retail space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Retail space - Retail building on multiple lots, featuring two separate houses and totaling 1.45 acres for development options.

Where is this retail space located?

The property is located at 143 State Road Kittery, ME.

What is the asking price?

The asking price for this property is $1,750,000.

What are key features of this property?

This property features: Retail building on two separate houses on two separate lots; Two separate lots with a total of 1.45 acres for multiple‑use or redevelopment options; Built in 1961