2023 Post Road, Wells, ME 04090

Building Details

Building Size 5,474 SF More

Year Built 1757 More

Stories 3 More

Listing Agency: Pack Maynard and Associates i***@packmaynardrealestate.com Show Phone

Listed By: Candice House Show Phone

Source: Amerorealty

Added: Jul 10 Changed: Nov 7 Last Checked: Nov 7 at 1:55PM

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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 Pack Maynard and Associates

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Investment Insights

Based on property information with market context.

Built in 1757, this 5,474-square-foot property combines a mid-18th-century Cape farmhouse with attached commercial space. The residence has three bedrooms, two bathrooms, and a central chimney serving four fireplaces. Additional improvements include an attached shed, a 30-by-60-foot detached garage, and a substantial 19th-century barn. Zoning is RC and RA.

A right-of-way walking path leads to Drakes Island Road, providing access toward Drakes Island Beach. The commercial area and residence are part of one property; any business use is subject to local approvals.

Key Highlights

• 5,474‑square‑foot mixed‑use property with attached commercial space
• 1757 Cape farmhouse with three bedrooms, two bathrooms, and four fireplaces
• Detached garage measuring 30' x 60'

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$89,664

Cap Rate

6.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,793,280 $1.8M

Cap Rate 7%

$1,280,914 $1.3M

Cap Rate 9%

$996,267 $996.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,474 SF

Gross rent

$136.6K $24.96/SF

− Vacancy

−$17.1K −$3.12/SF

EGI

$119.6K $21.84/SF

− OpEx

−$29.9K −$5.46/SF

NOI

$89.7K $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 Rate 5%

$1,793,280

Cap Rate 7%

$1,280,914

Cap Rate 9%

$996,267

Alternative Uses

Best Use

Office B

$1.28M

$1.12M – $1.49M (±1% cap)

NOI $89,664 @ 7.0% cap · market cap 6.90%

Second Best

Mixed Use

$971.2K

$849.8K – $1.13M (±1% cap)

NOI $67,987 @ 7.0% cap · market cap 5.23%

Theoretical Best

Office A

$1.74M

$1.52M – $2.02M (±1% cap)

NOI $121,466 @ 7.0% cap · market cap 9.35%

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

Wells General Store ... Home Decor Store

Suggested Use

Top Pick Electrical Service Auto Repair Shop Bakery Storage Facility Parking Lot & Garage Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

115

Businesses Nearby

Explore this area Business Placement

Demographics for 04090, ME

11,314

Population

9,590

Households

1.2

Avg Household Size

53

Median Age

38%

College-Educated

92%

High-School Grad

57.7 sq mi

ZIP Area

196

Density / Sq Mi

$83,900

Median Household Income

$47,928

Median Earnings

$1,313

Median Rent

$445,800

Median Home Value

Market

Average Price Trend$/SF for Mixed-use properties in York County, ME

$424 Jul

$374 Aug

$323 Sep

$283 Oct

Properties on Market for Mixed-use properties in York County

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Historic residential quarters connect to a commercial area, supporting a live-work configuration subject to local approvals.

Where is this mixed-use property located?

The property is located at 2023 Post Road Wells, ME.

What is the asking price?

The asking price for this property is $1,299,000.

What are key features of this property?

This property features: 5,474‑square‑foot mixed‑use property with attached commercial space; 1757 Cape farmhouse with three bedrooms, two bathrooms, and four fireplaces; Detached garage measuring 30' x 60'