Restaurant with Attached Retail
For Sale
$490,000
16 Main Street, Belgrade, ME 04917
A paved parking area and adjoining golf course complement the restaurant and its additional retail area.
Property Size1,392 SF
Price / SF$352.01
Days on Market31
Property Features for 16 Main Street
General Information
Standard status
Active
Size
1,392 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Business Included
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,359
Building Details
Building Size
1,392 SF
Year Built
1979
Listing Agency:
Lakehome Group Real Estate
(207) 495-2500
Listed By:
Tammy Fulling
(207) 215-9687
Source:
Amerorealty
Added: Oct 2
Changed: Oct 31
Last Checked: Oct 31 at 2:25PM
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 Lakehome Group Real Estate
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Investment Insights
Based on property information with market context.
This 1,392-square-foot restaurant property, built in 1979, includes an attached 736-square-foot retail space. The interior accommodates dine-in service and ice cream sales, and the site is zoned Commercial.
The property is on Main Street in Belgrade and directly adjoins Belgrade Lakes Golf Course. A paved parking lot serves the site, which is described as drawing seasonal and visitor activity.
The property is on Main Street in Belgrade and directly adjoins Belgrade Lakes Golf Course. A paved parking lot serves the site, which is described as drawing seasonal and visitor activity.
Key Highlights
- 1,392‑square‑foot restaurant property built in 1979
- Attached retail area measures 736 SF
- Interior set up for dine‑in service and ice cream sales
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,597
Cap Rate
3.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$311,940
$311.9K
Cap Rate 7%
$222,814
$222.8K
Cap Rate 9%
$173,300
$173.3K
Market Conditions
NOI Build-Up for 1,392 SF
Gross rent
$25.1K $18.00/SF
− Vacancy
−$4.3K −$3.06/SF
EGI
$20.8K $14.94/SF
− OpEx
−$5.2K −$3.74/SF
NOI
$15.6K $11.21/SF
Area
Kennebec County, ME
Vacancy
17.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$311,940
Cap Rate 7%
$222,814
Cap Rate 9%
$173,300
Alternative Uses
Best Use
Specialty Retail
$222.8K
$195.0K – $260.0K
NOI $15,597 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.08M
$1.82M – $2.42M
NOI $145,371 @ 7.0% cap · market cap 29.67%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
71
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04917, ME
3,259
Population
2,261
Households
1.4
Avg Household Size
49
Median Age
46%
College-Educated
98%
High-School Grad
42.7 sq mi
ZIP Area
76
Density / Sq Mi
$86,021
Median Household Income
$41,846
Median Earnings
$868
Median Rent
$304,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A paved parking area and adjoining golf course complement the restaurant and its additional retail area.
Where is this conventional restaurant located?
The property is located at 16 Main Street Belgrade, ME.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 1,392‑square‑foot restaurant property built in 1979; Attached retail area measures 736 SF; Interior set up for dine‑in service and ice cream sales
