Renovated Lower-Level Retail
For Sale
$459,000
20 Shore Rd Unit 8, Ogunquit, ME 03907
Commercial condominium with Shore Road visibility, dual access points, and classic interior finishes.
Property Size1,796 SF
Price / SF$255.57
Days on Market20
Property Features for 20 Shore Rd Unit 8
General Information
Standard status
Active
Size
1,796 SF
Additional Details
Floor
Lower Level
Building Details
Year Built
1961
Year Renovated
2022
Listing Agency:
Anne Erwin Sotheby's International Realty
(207) 363-6640
Listed By:
Anne Erwin Real Estate
Source:
Samonasgroup
Added: Aug 10
Changed: Aug 28
Last Checked: Aug 28 at 8:48PM
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 Anne Erwin Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 1,796-square-foot lower-level commercial condominium in Ogunquit Village combines a 2022 renovation with character elements including a fireplace, rich millwork, and classic finishes. The property was built in 1961 and has been updated for contemporary commercial use.
Positioned along Shore Road, the space benefits from visibility and two access points. Its Ogunquit setting places it among local shops and restaurants, with activity described as year-round. The configuration has been presented for retail, gallery, wellness, office, café, and coworking applications.
Positioned along Shore Road, the space benefits from visibility and two access points. Its Ogunquit setting places it among local shops and restaurants, with activity described as year-round. The configuration has been presented for retail, gallery, wellness, office, café, and coworking applications.
Key Highlights
- 1,796 SF lower‑level commercial condominium
- Renovated in 2022; building constructed in 1961
- Located along Shore Road in Ogunquit Village
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,418
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$588,360
$588.4K
Cap Rate 7%
$420,257
$420.3K
Cap Rate 9%
$326,867
$326.9K
Market Conditions
NOI Build-Up for 1,796 SF
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.
Gross rent
$44.8K $24.96/SF
− Vacancy
−$5.6K −$3.12/SF
EGI
$39.2K $21.84/SF
− OpEx
−$9.8K −$5.46/SF
NOI
$29.4K $16.38/SF
Area
York County, ME
Vacancy
12.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$588,360
Cap Rate 7%
$420,257
Cap Rate 9%
$326,867
Alternative Uses
Best Use
Office B
$420.3K
$367.7K – $490.3K
NOI $29,418 @ 7.0% cap · market cap 6.41%
Second Best
Retail
$311.6K
$272.6K – $363.5K
NOI $21,810 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$569.3K
$498.2K – $664.2K
NOI $39,853 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Explore this area
Business Placement
Demographics for 03907, ME
1,577
Population
2,106
Households
0.7
Avg Household Size
62
Median Age
68%
College-Educated
99%
High-School Grad
4.1 sq mi
ZIP Area
385
Density / Sq Mi
$104,250
Median Household Income
$72,778
Median Earnings
$1,736
Median Rent
$799,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial condominium with Shore Road visibility, dual access points, and classic interior finishes.
Where is this retail space located?
The property is located at 20 Shore Rd Unit 8 Ogunquit, ME.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: 1,796 SF lower‑level commercial condominium; Renovated in 2022; building constructed in 1961; Located along Shore Road in Ogunquit Village
