Mixed-Use Building with Four-Bay
For Sale
$1,167,520
209 Sanford Rd., Wells, ME 04090
Commercial Sale, Wells, ME
Property Size7,126 SF
Lot Size0.97 Acres
Price / SF$163.84
Days on Market51
Property Features for 209 Sanford Rd.
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Lot size
0.97 Acres
Amenities
oil fired hot water heat
paved parking
deck
Listing Agency:
Keenan Auction Company, Inc.
Listed By:
Richard Keenan
(207) 885-5100
Added: Aug 17
Changed: Oct 1
Last Checked: Oct 6 at 12:06PM
MLS# 11938254
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property includes a 7,126+/- SF commercial and residential building on a .97+/- acre parcel. Built circa 1988, the improvements include a retail storefront and a four-bay garage constructed in 2006. Two 3-bedroom apartments are positioned above the commercial areas, with each residence offering a kitchen and dining area, living room, and bathroom. The property also features oil-fired hot water heat, public utilities, paved parking, and a deck.
Located at 209 Sanford Rd. along Route 9 in Wells, the site has approximately 170+/- feet of frontage and is 1 mile from the Maine Turnpike. Tax Map 134, Lot 26 identifies the parcel.
Located at 209 Sanford Rd. along Route 9 in Wells, the site has approximately 170+/- feet of frontage and is 1 mile from the Maine Turnpike. Tax Map 134, Lot 26 identifies the parcel.
Key Highlights
- 7,126+/- SF commercial and residential building on .97+/- acres
- Approximately 170+/- feet of frontage on Route 9
- Retail storefront with a commercial 4‑bay garage built in 2006
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
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
NOI $88,505 @ 7.0% cap · market cap 7.58%
Second Best
Retail
$1.24M
$1.08M – $1.44M
NOI $86,537 @ 7.0% cap · market cap 7.41%
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,123 @ 7.0% cap · market cap 13.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property combines a retail storefront, garage space, and two residential apartments.
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 commercial and residential building on .97+/- acres; Approximately 170+/- feet of frontage on Route 9; Retail storefront with a commercial 4‑bay garage built in 2006
