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    151 Maple St Cornish, ME

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    For Sale
    $1,176,471

    10,053 SF Walgreens NN asset with below market rent.

    Type:RETAIL
    Property size:
    10,053 SF
    Lot size:
    2.65 Acres
    Added:
    Jun 11, 2025
    Days on Market:
    295
    Last Refresh:
    Mar 29 at 11:14 pm

    Property Features for 151 Maple St

    General Information

    Standard status
    Active
    Size
    10,053 SF
    Lot size
    2.65 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Jack Liberatore

    Listing agent Jack Liberatore

    Listing office Sands Investment Group (SIG) - Corporate

    Listing date Jun 11, 2025

    Source Moodyscre

    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 Sands Investment Group (SIG) - Corporate

    Overview

    Walgreens NN Asset For Sale

    This 10,053 SF Walgreens asset is available for sale. The property is located at 151 Maple St in Cornish, ME. The double net (NN) lease structure has over five years remaining with a below market rent. The tenant is Walgreens Boots Alliance (NASDAQ: WBA), a Fortune 500 company with over 8,500 locations nationwide. The property is the only national chain pharmacy within 20 miles. It is strategically placed on a 3.35 acre lot with visibility and accessibility. Nearby tenants include a Shop N’ Save anchored center, Subway, Dunkin’ Donuts, Fairgrounds Sports Bar & Grill, and Carquest Auto Parts.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Walgreens Photo (Bike/Boat/Book/etc) Store Walgreens Pharmacy Walgreens Pharmacy Pharmacy COVID-19 Drive-Thru Testing ... Pharmacy Western Union Bank

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Call's Shop'n Save — 200 Maple St Ste 3, Cornish, ME 04020
    • Walgreens Pharmacy — 151 Maple St, Cornish, ME 04020
    • COVID-19 Drive-Thru Testing at Walgreens — 151 Maple St, Cornish, ME 04020
    • Christine Hare — 151 Maple St, Cornish, ME 040203103
    • Michael Coppi — 200 Maple St, Cornish, ME 040203141

    Location Insight

    • Map
    • Local Demand
    City
    Cornish
    County
    York
    State
    Maine
    Longitude
    -70.8186
    Latitude
    43.8048

    Nearby Similar for Sale

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      Historic Cornish Village Mixed-Use Property

      Charming 1870s New Englander, ideal for live/work opportunity.
      4 Bridge Street, Cornish, ME 04020
      View Details
    • $475,000
      7,682 SF

      Historic Commercial Building on Main

      Charming 1800s building with established tenants on Main Street.
      20 Main Street, Cornish, ME 04020
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    • $383,000
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      Two-Family Residence with Commercial Zoning

      Charming 1890 two-family residence with commercial zoning in Cornish, Maine.
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    FAQs

    What type of property is this?
    Drug store - 10,053 SF Walgreens NN asset with below market rent.
    Where is this drug store located?
    The property is located at 151 Maple St Cornish, ME.
    What is the asking price?
    The asking price for this property is $1,176,471.
    What are key features of this property?
    This property features: Secure investment with over five years remaining on a Double Net (NN) lease.; Below market rent Walgreens provides additional security.; National tenant Walgreens Boots Alliance (NASDAQ: WBA), a Fortune 500 company.
    (844) 474-4666
    We can help!
    Listing Contact
    Jack Liberatore
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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