Building Details

Building Size 1,288 SF

Year Built 1923

Stories 1

Listing Agency: EXP Realty m***@exprealty.net Show Phone

Listed By: Melissa Rioux Show Phone

Source: Amerorealty

Added: Nov 22, 2024 Changed: Oct 31 Last Checked: Oct 31 at 2:29PM

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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 1,288-square-foot mixed-use property was built in 1923 and is currently vacant. The one-level building has a new roof and is zoned D, with space suited to a range of commercial configurations without committing the property to a particular use.

At 292 Main Street in downtown Saco, the property sits between Bangor Savings Bank and Sweets & Co. bakery and cafe. US Route 1 is nearby, and I-95 and the Amtrak station are described as minutes away. The building is also one mile from downtown Biddeford.

Key Highlights

• 1,288 square feet of mixed‑use space
• Built in 1923; currently vacant
• New roof

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,997

Cap Rate

4.57%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$319,940 $319.9K

Cap Rate 7%

$228,529 $228.5K

Cap Rate 9%

$177,744 $177.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,288 SF

Gross rent

$27.8K $21.60/SF

− Vacancy

−$2.2K −$1.73/SF

EGI

$25.6K $19.87/SF

− OpEx

−$9.6K −$7.45/SF

NOI

$16.0K $12.42/SF

Area

York County, ME

Vacancy

8.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$319,940

Cap Rate 7%

$228,529

Cap Rate 9%

$177,744

Alternative Uses

Best Use

Mixed Use

$228.5K

$200.0K – $266.6K (±1% cap)

NOI $15,997 @ 7.0% cap · market cap 4.57%

Second Best

Retail

$223.4K

$195.5K – $260.7K (±1% cap)

NOI $15,641 @ 7.0% cap · market cap 4.47%

Theoretical Best

Office A

$408.3K

$357.3K – $476.3K (±1% cap)

NOI $28,580 @ 7.0% cap · market cap 8.17%

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

Platinum Pawn & Jewelry Discount Store

Suggested Use

Top Pick Computer & Electronic Repair Plumbing Service (Bike/Boat/Book/etc) Store Home Appliance Store Veterinary Clinic Pet Grooming 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

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,242

Businesses Nearby

89k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 43% Groceries 30% Apparel 26%

Shaw's Supermarket Groceries

26,960 visits/mo 0.4 miles

Reny's Apparel

23,122 visits/mo 0.3 miles

Mobil Shops & Services

9,313 visits/mo 0.3 miles

TD Bank Shops & Services

6,745 visits/mo 0.3 miles

The UPS Store Shops & Services

6,152 visits/mo 0.3 miles

Demographics for 04072, ME

20,381

Population

9,619

Households

2.1

Avg Household Size

43

Median Age

40%

College-Educated

96%

High-School Grad

38.6 sq mi

ZIP Area

528

Density / Sq Mi

$84,328

Median Household Income

$47,419

Median Earnings

$1,268

Median Rent

$370,300

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

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The vacant building has a new roof and a one-level layout in downtown Saco.

Where is this mixed-use property located?

The property is located at 292 Main Street Saco, ME.

What is the asking price?

The asking price for this property is $349,900.

What are key features of this property?

This property features: 1,288 square feet of mixed‑use space; Built in 1923; currently vacant; New roof