Highly Visible Retail Building with Two
For Sale
$1,750,000
143 State Road, Kittery, ME 03904
Retail building on multiple lots, featuring two separate houses and totaling 1.45 acres for development options.
Property Size4,500 SF
Lot Size1.45 Acres
Price / SF$388.89
Days on Market105
Property Features for 143 State Road
General Information
Standard status
Active
Size
4,500 SF
Lot size
1.45 Acres
Property subtype
Commercial
Building Details
Year Built
1961
Listing Agency:
Compass New England,LLC
(603) 540-5661
Listed By:
Robert Marchewka
Source:
Aultcommercial
Added: May 18
Changed: Aug 28
Last Checked: Aug 29 at 9:57AM
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.
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 = 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
$54,647
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
3.12%
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%
$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
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
$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 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%
$1,092,940
Cap Rate 7%
$780,671
Cap Rate 9%
$607,189
Alternative Uses
Best Use
Retail
$780.7K
$683.1K – $910.8K
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
NOI $99,853 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
