Convenience Store with Lunch
For Sale
$275,000
2263 Hotel Road, Auburn, ME 04210
A neighborhood business-zoned shop combines convenience retail, a wood-finished counter, and dedicated storage.
Property Size1,251 SF
Price / SF$219.82
Days on Market847
Property Features for 2263 Hotel Road
General Information
Standard status
Active
Size
1,251 SF
Property subtype
Commercial
Zoning
NB
Additional Details
Business Included
Yes
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$2,057
Building Details
Building Size
1,251 SF
Year Built
1914
Stories
1
Listing Agency:
Fontaine Family-The Real Estate Leader
(207) 289-3830
Listed By:
Maria Morrissette
(207) 749-8779
Source:
Amerorealty
Added: Jul 8, 2024
Changed: Oct 31
Last Checked: Oct 31 at 2:19PM
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 Fontaine Family-The Real Estate Leader
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Investment Insights
Based on property information with market context.
Runway Variety Store is a 1,251-square-foot convenience retail property with a lunch counter finished in wood and an ample storage area. The building dates to 1914 and is zoned NB. Its configuration brings together merchandise sales and counter service in one compact operation.
The property is at the entrance to Lewiston/Auburn Airport, amid warehouses, supply businesses, and other industrial park uses. Martindale Golf Course and Country Club is nearby, and apartments are under construction in the surrounding residential area.
The property is at the entrance to Lewiston/Auburn Airport, amid warehouses, supply businesses, and other industrial park uses. Martindale Golf Course and Country Club is nearby, and apartments are under construction in the surrounding residential area.
Key Highlights
- 1,251‑square‑foot convenience store and lunch counter
- Wood‑finished lunch counter with ample storage space
- NB zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,083
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$261,660
$261.7K
Cap Rate 7%
$186,900
$186.9K
Cap Rate 9%
$145,367
$145.4K
Market Conditions
NOI Build-Up for 1,251 SF
Gross rent
$22.5K $18.00/SF
− Vacancy
−$3.8K −$3.06/SF
EGI
$18.7K $14.94/SF
− OpEx
−$5.6K −$4.48/SF
NOI
$13.1K $10.46/SF
Area
Androscoggin County, ME
Vacancy
17.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$261,660
Cap Rate 7%
$186,900
Cap Rate 9%
$145,367
Alternative Uses
Best Use
Retail
$186.9K
$163.5K – $218.1K
NOI $13,083 @ 7.0% cap · market cap 4.76%
Second Best
Specialty Retail
$144.2K
$126.2K – $168.2K
NOI $10,093 @ 7.0% cap · market cap 3.67%
Theoretical Best
Warehouse
$2.22M
$1.94M – $2.59M
NOI $155,531 @ 7.0% cap · market cap 56.56%
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
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
900
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Whited Peterbilt of Maine
Shops & Services
900 visits/mo
0.3 miles
Demographics for 04210, ME
24,061
Population
11,113
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
59.3 sq mi
ZIP Area
406
Density / Sq Mi
$66,552
Median Household Income
$42,624
Median Earnings
$983
Median Rent
$254,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - A neighborhood business-zoned shop combines convenience retail, a wood-finished counter, and dedicated storage.
Where is this grocery and convenience store located?
The property is located at 2263 Hotel Road Auburn, ME.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,251‑square‑foot convenience store and lunch counter; Wood‑finished lunch counter with ample storage space; NB zoning
