Grocery and Convenience Store
For Sale
$1,500,000
21 27 33 Depot Square, Mechanic Falls, ME 04256
Three-building property combines an operating grocery business with a leased USPS facility.
Property Size9,000 SF
Price / SF$166.67
Days on Market90
Property Features for 21 27 33 Depot Square
General Information
Standard status
Active
Size
9,000 SF
Property subtype
Commercial
Lease Term
[]
Additional Details
Business Included
Yes
Building Details
Buildings
3
Listing Agency:
EXP Realty
Listed By:
Edward Herczeg
(207) 536-4222
Source:
Portsiderealestategroup
Added: Jun 2
Changed: Aug 29
Last Checked: Aug 29 at 3:04PM
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 EXP Realty
Investment Insights
Based on property information with market context.
This three-building commercial property includes an active grocery store, a fully leased United States Postal Service facility, and a vacant historic train depot. The grocery operation is stocked and functioning, providing an established business component within the property. A comprehensive seven-month remodel added commercial coolers, updated display racks, a modern POS system, high-definition CCTV security, and new flooring.
The depot building is vacant and offers a separate structure for a future use. The property is identified as 21, 27, and 33 Depot Square in Mechanic Falls, Maine, with approximately 9,000 square feet across the compound. The USPS tenancy adds an existing leased component, while the operating grocery and renovated infrastructure provide the primary business platform.
The depot building is vacant and offers a separate structure for a future use. The property is identified as 21, 27, and 33 Depot Square in Mechanic Falls, Maine, with approximately 9,000 square feet across the compound. The USPS tenancy adds an existing leased component, while the operating grocery and renovated infrastructure provide the primary business platform.
Key Highlights
- Three‑building commercial compound totaling 9,000 square feet
- Operating grocery store with stocked inventory and active business
- Grocery facility completed a comprehensive seven‑month remodel
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
$106,191
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
7.08%
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%
$2,123,820
$2.1M
Cap Rate 7%
$1,517,014
$1.5M
Cap Rate 9%
$1,179,900
$1.2M
Market Conditions
NOI Build-Up for 9,000 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
$194.4K $21.60/SF
− Vacancy
−$24.5K −$2.72/SF
EGI
$169.9K $18.88/SF
− OpEx
−$63.7K −$7.08/SF
NOI
$106.2K $11.80/SF
Area
Androscoggin County, ME
Vacancy
12.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$2,123,820
Cap Rate 7%
$1,517,014
Cap Rate 9%
$1,179,900
Alternative Uses
Best Use
Mixed Use
$1.52M
$1.33M – $1.77M
NOI $106,191 @ 7.0% cap · market cap 7.08%
Second Best
Retail
$1.34M
$1.18M – $1.57M
NOI $94,122 @ 7.0% cap · market cap 6.27%
Theoretical Best
Warehouse
$15.98M
$13.99M – $18.65M
NOI $1,118,927 @ 7.0% cap · market cap 74.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
16k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Groceries 16%
Cumberland Farms
Shops & Services
9,135 visits/mo
0.1 miles
Citgo
Shops & Services
2,956 visits/mo
0.1 miles
Future Foods IGA
Groceries
2,612 visits/mo
0.1 miles
Napa Auto Parts
Shops & Services
1,128 visits/mo
0.1 miles
Demographics for 04256, ME
3,107
Population
1,195
Households
2.6
Avg Household Size
41
Median Age
15%
College-Educated
92%
High-School Grad
11.0 sq mi
ZIP Area
282
Density / Sq Mi
$58,958
Median Household Income
$36,601
Median Earnings
$1,160
Median Rent
$224,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Future Foods — 21 Depot Sq, Mechanic Falls, ME 04256
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Three-building property combines an operating grocery business with a leased USPS facility.
Where is this grocery and convenience store located?
The property is located at 21 27 33 Depot Square Mechanic Falls, ME.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Three‑building commercial compound totaling 9,000 square feet; Operating grocery store with stocked inventory and active business; Grocery facility completed a comprehensive seven‑month remodel
