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    Renovated Lower-Level Retail/Office Condo Title is generated by Realmo AI

    20 Shore Road, Ogunquit, ME 03907

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    New
    For Sale
    $499,000

    COMMERCIAL - Ogunquit, ME

    Type:Office
    Property size:
    1,796 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $277/SF
    Added:
    Jun 2, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 2 at 4:06 pm

    Property Features for 20 Shore Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Zoning
    DBD
    Rooms
    Basement
    Basement
    Full, Walk-Out Access, Finished
    Standard status
    Active
    Size
    1,796 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    1983

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard, Electric (Heating), Oil, Hot Water(Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1961
    Flooring type
    Wood
    Building materials
    Wood Frame, Vinyl Siding

    We can help!

    Listing Contact
    Anne Erwin Real Estate

    Listing agent Anne Erwin Real Estate

    Listing office Anne Erwin Sotheby's International Realty 31 Long Sands Road, York, ME

    Listing date Jun 2, 2026

    MLS# 1665024

    Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Renovated in 2022, lower‑level commercial condominium on Shore Road in Ogunquit Village
    • Wood frame construction with vinyl siding
    • Central air cooling plus electric, oil, and hot water heating and baseboard heat
    • Public water and public sewer services
    • Wood flooring and a fireplace
    • Dual access points with visibility from Shore Road

    Overview

    This lower-level commercial condominium has been elegantly renovated in 2022 and reconfigured for modern use. The space features a welcoming fireplace, rich millwork, and classic finishes that create an upscale atmosphere for tenant concepts seeking a refined presence. Built as a condominium offering, it also provides a practical setup for businesses that benefit from an interior environment designed to impress clients and members.

    Positioned along Shore Road in the heart of Ogunquit Village, the property offers visibility from the road and dual access points for convenient entry and customer flow. It sits in an established business corridor surrounded by local shops, acclaimed restaurants, and year-round activity, supporting retail, gallery, café, office, and wellness-oriented operations. The combination of frontage visibility and nearby foot-traffic drivers can help a wide range of brands introduce themselves to the Ogunquit market.

    The thoughtful improvements and adaptable character make this condo a strong fit for boutique retail, fine art galleries, wellness studios, office use, or a coffee or internet café concept. It can also work for co-working and desk space operators who want an inviting, client-friendly environment. For buyers seeking a turnkey coastal storefront experience without taking on a full building, this renovated lower-level unit presents an appealing option.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $44.8k $24.96
    − Vacancy −$5.6k −$3.12
    EGI $39.2k $21.84
    − OpEx −$9.8k −$5.46
    NOI $29.4k $16.38
    1,796 SF · lease $24.96/SF/yr · vacancy 12.50% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $420.3K
    $367.7K – $490.3K (±1% cap)
    NOI $29,418 @ 7.0% cap · market cap 5.90%
    Second Best
    Specialty Retail
    $310.3K
    $271.5K – $362.0K (±1% cap)
    NOI $21,722 @ 7.0% cap · market cap 4.35%
    Theoretical Best
    Office A
    $569.3K
    $498.2K – $664.2K (±1% cap)
    NOI $39,853 @ 7.0% cap · market cap 7.99%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Twenty Shore Guest ... Hotel & Motel Ogunquit Chamber of Commerce ... Business Service Center Talking Threads Market (Bike/Boat/Book/etc) Store Meyra Lamps & Jewelry Home Decor Store Daisy Trading Co (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Real Estate Agency Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Pharmacy Gym & Fitness Center Kitchen & Bath Showroom Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ogunquit
    County
    York
    State
    Maine
    Longitude
    -70.5994427
    Latitude
    43.2484387

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    FAQs

    What type of property is this?
    Office units - Renovated in 2022 with Shore Road visibility and flexible interior finishes suitable for retail, office, or wellness use.
    Where is this office units located?
    The property is located at 20 Shore Road Ogunquit, ME.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: Renovated in 2022, lower‑level commercial condominium on Shore Road in Ogunquit Village; Wood frame construction with vinyl siding; Central air cooling plus electric, oil, and hot water heating and baseboard heat
    (207) 363-6640
    We can help!
    Listing Contact
    Anne Erwin Real Estate
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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