Listing Agency: Keenan Auction Company, Inc.

Listed By: Richard Keenan Show Phone

Added: Aug 17 Changed: Oct 8 Last Checked: Nov 6 at 1:06PM

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MLS# 11938254

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Investment Insights

Based on property information with market context.

This mixed-use property contains 7,126+/- SF across a retail storefront, a commercial garage with four bays, and two three-bedroom apartments. Built circa 1988, the wood-frame building includes oil-fired hot-water heat, public utilities, paved parking, and a deck. The garage dates to 2006. Each apartment has a kitchen and dining area, living room, and bath.

The property occupies a .97+/- acre parcel with 170+/- ft. of frontage on Route 9, about one mile from the Maine Turnpike. The real estate is scheduled for public auction on November 10, 2026.

Key Highlights

• 7,126+/- SF mixed‑use building on .97+/- Ac.
• Retail storefront and commercial garage with 4 bays
• Two 3‑bedroom apartments, each with a kitchen/dining area, living room, and bath

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$88,505

Cap Rate

7.58%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,770,100 $1.8M

Cap Rate 7%

$1,264,357 $1.3M

Cap Rate 9%

$983,389 $983.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,126 SF

Gross rent

$153.9K $21.60/SF

− Vacancy

−$12.3K −$1.73/SF

EGI

$141.6K $19.87/SF

− OpEx

−$53.1K −$7.45/SF

NOI

$88.5K $12.42/SF

Area

York County, ME

Vacancy

8.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,770,100

Cap Rate 7%

$1,264,357

Cap Rate 9%

$983,389

Alternative Uses

Best Use

Mixed Use

$1.26M

$1.11M – $1.48M (±1% cap)

NOI $88,505 @ 7.0% cap · market cap 7.58%

Second Best

Retail

$1.24M

$1.08M – $1.44M (±1% cap)

NOI $86,537 @ 7.0% cap · market cap 7.41%

Theoretical Best

Office A

$2.26M

$1.98M – $2.64M (±1% cap)

NOI $158,123 @ 7.0% cap · market cap 13.54%

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

Archie's Off Road ... Auto Repair Shop

Suggested Use

Top Pick Electrical Service Bakery Furniture & Home Goods Hair Salon (Bike/Boat/Book/etc) Store 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.

Lease Details

2

Residential units

Turnkey business

Opportunity

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

251

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 Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Retail space, a four-bay garage, and two apartments are combined in one property.

Where is this mixed-use property located?

The property is located at 209 Sanford Rd. Wells, ME.

What is the asking price?

The asking price for this property is $1,167,520.

What are key features of this property?

This property features: 7,126+/- SF mixed‑use building on .97+/- Ac.; Retail storefront and commercial garage with 4 bays; Two 3‑bedroom apartments, each with a kitchen/dining area, living room, and bath