Building Details

Building Size 7,560 SF

Year Built 1988

Buildings 1

Stories 1

Listing Agency: Keller Williams Realty k***@kw.com Show Phone

Listed By: Kirk Butterfield · License #MAINEBR918896 Show Phone

Source: Patryfamilyrealty

Added: Apr 18, 2024 Changed: Oct 31 Last Checked: Oct 31 at 3:13AM

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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 7,560-square-foot industrial flex building, constructed in 1988, sits on more than 2.5 acres. Its layout includes private offices, showroom and retail space, a kitchenette, and a large open production area. Two loading docks, four drive-in bays, and a mezzanine provide additional building functionality and storage. The property is zoned I1 and B2.

Biddeford Connector access places the site less than five minutes from the Maine Turnpike. Portland is 20 minutes away, and Portsmouth, New Hampshire, is 30 minutes away.

Key Highlights

• 7,560‑square‑foot building on more than 2.5 acres
• Two loading docks and four drive‑in bays
• Private offices, showroom/retail space, kitchenette, and open production area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$105,980

Cap Rate

7.85%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,119,600 $2.1M

Cap Rate 7%

$1,514,000 $1.5M

Cap Rate 9%

$1,177,556 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,560 SF

Gross rent

$166.0K $21.96/SF

− Vacancy

−$3.0K −$0.39/SF

EGI

$163.0K $21.57/SF

− OpEx

−$57.1K −$7.55/SF

NOI

$106.0K $14.02/SF

Area

York County, ME

Vacancy

1.79%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,119,600

Cap Rate 7%

$1,514,000

Cap Rate 9%

$1,177,556

Alternative Uses

Best Use

Flex RnD

$1.51M

$1.32M – $1.77M (±1% cap)

NOI $105,980 @ 7.0% cap · market cap 7.85%

Second Best

Warehouse

$1.35M

$1.18M – $1.58M (±1% cap)

NOI $94,665 @ 7.0% cap · market cap 7.01%

Theoretical Best

Office A

$2.40M

$2.10M – $2.80M (±1% cap)

NOI $167,754 @ 7.0% cap · market cap 12.43%

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

Southern Maine Seamless ... Roofing Company Headies Medical Cannabis ... (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Electrical Service (Bike/Boat/Book/etc) Store Grocery & Convenience Store Locksmith HVAC 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.

Lease Details

2

Dock-high doors

4

Drive-in doors

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

422

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 04005, ME

24,581

Population

11,001

Households

2.2

Avg Household Size

39

Median Age

29%

College-Educated

95%

High-School Grad

47.9 sq mi

ZIP Area

513

Density / Sq Mi

$71,268

Median Household Income

$39,176

Median Earnings

$1,186

Median Rent

$351,700

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Office, showroom, and production areas are complemented by dock and drive-in access.

Where is this flex space located?

The property is located at 12 Grays Lane Biddeford, ME.

What is the asking price?

The asking price for this property is $1,350,000.

What are key features of this property?

This property features: 7,560‑square‑foot building on more than 2.5 acres; Two loading docks and four drive‑in bays; Private offices, showroom/retail space, kitchenette, and open production area