Repurposable Retail/Restaurant
262 Main Street South Portland, ME 04106
262 Main Street, South Portland, ME, 04106
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For Sale
Contact for pricing
Former restaurant and showroom/retail space with repurposing flexibility near Cash Corner.
Property Size6,195 SF
Price / SF$173.45
Days on Market72
Property Features for 262 Main Street
General Information
- Standard status
- Active
- Size
- 6,195 SF
- Property subtype
- Retail, Industrial
Building Details
- Year Built
- 1972
Listing agency
The Dunham Group
Listed by
Greg Hastings · License #ME 209023
Source
Crexi
Added: May 13 Updated: Jul 22 at 2:25PM Checked: Jul 22 at 2:25PM
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 The Dunham Group
Investment Insights
Based on property information with market context.
This property has a history as both a restaurant and a showroom/retail space. It is a repurposable building that can support many different uses based on the prior restaurant and retail configuration.
The property is located near Cash Corner. It also abuts several other contiguous properties that are available for sale, which may be useful if additional land is needed.
As a former restaurant and retail/showroom facility, the site offers an existing commercial footprint for a buyer looking to reposition the property for a new direction.
The property is located near Cash Corner. It also abuts several other contiguous properties that are available for sale, which may be useful if additional land is needed.
As a former restaurant and retail/showroom facility, the site offers an existing commercial footprint for a buyer looking to reposition the property for a new direction.
Key Highlights
- Year built: 1972
- Former restaurant and showroom/retail space
- Can be repurposed for many uses
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $111.5k | $18.00 |
| − Vacancy | −$19.0k | −$3.06 |
| EGI | $92.6k | $14.94 |
| − OpEx | −$23.1k | −$3.74 |
| NOI | $69.4k | $11.21 |
6,195 SF · lease $18.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$991.6K
$867.7K – $1.16M
NOI $69,415 @ 7.0% cap · market cap 6.46%
Second Best
Retail
$925.5K
$809.8K – $1.08M
NOI $64,787 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,189 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Showrooms
Similar For Sale Nearby
Similar Off Market Nearby
- W.J. Grosvenor & Co., Inc. — 2257 Broadway St, South Portland, ME 04106
- Meeting House Designs — 14 Hunnewell Rd, South Portland, ME 04106
FAQs
What type of property is this?
Showroom - Former restaurant and showroom/retail space with repurposing flexibility near Cash Corner.
Where is this showroom located?
The property is located at 262 Main Street South Portland, ME.
What is the asking price?
The asking price for this property is $1,074,500.
What are key features of this property?
This property features: Year built: 1972; Former restaurant and showroom/retail space; Can be repurposed for many uses
