Building Details

Building Size 9,752 SF

Year Built 1855

Year Renovated 2019

Buildings 1

Stories 2

Listing Agency: The Boulos Company

Listed By: Nathaniel Stevens Show Phone

Source: Amerorealty

Added: Nov 4, 2024 Changed: Oct 31 Last Checked: Oct 31 at 2:37PM

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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 The Boulos Company

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Investment Insights

Based on property information with market context.

This two-story flex building offers 9,752± square feet configured for office, industrial, and flex uses. A historic tax credit renovation was completed in 2018 to 2019, with work including a new roof, HVAC, electrical system, bathrooms, and plumbing, along with masonry repointing. Interior details include exposed brick and beams, high ceilings, and a freight elevator. Ceiling heights range from 10' 6' to 15' 7'.

The building is part of the Saco Island development along the Saco River and provides on-site parking for up to 20 vehicles. A 10' overhead loading door supports loading access. The property is zoned SI and dates to 1855.

Key Highlights

• 9,752± SF across two stories
• Historic tax credit renovation completed in 2018 to 2019
• New roof, HVAC, electrical, bathrooms, plumbing, and repointed masonry

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$136,708

Cap Rate

8.60%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,734,160 $2.7M

Cap Rate 7%

$1,952,971 $2.0M

Cap Rate 9%

$1,518,978 $1.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,752 SF

Gross rent

$214.2K $21.96/SF

− Vacancy

−$3.8K −$0.39/SF

EGI

$210.3K $21.57/SF

− OpEx

−$73.6K −$7.55/SF

NOI

$136.7K $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%

$2,734,160

Cap Rate 7%

$1,952,971

Cap Rate 9%

$1,518,978

Alternative Uses

Best Use

Flex RnD

$1.95M

$1.71M – $2.28M (±1% cap)

NOI $136,708 @ 7.0% cap · market cap 8.60%

Second Best

Industrial

$1.44M

$1.26M – $1.68M (±1% cap)

NOI $100,563 @ 7.0% cap · market cap 6.32%

Theoretical Best

Office A

$3.09M

$2.70M – $3.61M (±1% cap)

NOI $216,393 @ 7.0% cap · market cap 13.61%

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

Quince & Co. Warehouse & Storage

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Auto Parts Store Dental Office Auto Repair Shop Storage Facility

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

15 ft

Clear height

Location Intelligence

Trade Area within ½ mile

1,404

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

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 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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Similar Off Market Nearby

• Big Tree Foods — 10 West Point Lane, Biddeford, ME 04005
• At Your Service Caterers — 110 Main St, Saco, ME 04072
• The Remedy Cocktail Co. — 120 Main St, Saco, ME 04072

Frequently Asked Questions

What type of property is this?

Flex space - A two-story property combines office, industrial, and flex space with freight-elevator access and on-site parking.

Where is this flex space located?

The property is located at 102 Main Street Saco, ME.

What is the asking price?

The asking price for this property is $1,590,000.

What are key features of this property?

This property features: 9,752± SF across two stories; Historic tax credit renovation completed in 2018 to 2019; New roof, HVAC, electrical, bathrooms, plumbing, and repointed masonry