Retail Property at Route
For Sale
$2,270,000
262 Main Street, Waterboro, ME 04030
Commercial/village zoning and three existing curb cuts support access across the site.
Property Size6,422 SF
Lot Size4.50 Acres
Days on Market336
Property Features for 262 Main Street
General Information
Standard status
Active
Size
6,422 SF
Lot size
4.50 Acres
Property subtype
Commercial
Zoning
commercial/village
Site & Location
Road Frontage
420 ft
Corner Location
Yes
Traffic Count
27,583 vehicles/day
Road Access
Yes
Land
Land Use
commercial
Subdividable
Yes
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$4,576
Building Details
Building Size
6,422 SF
Year Built
1983
Listing Agency:
Lakes Region Realty
(207) 459-4849
Listed By:
Jane Carmichael
(207) 459-4849
Source:
Startpoint
Added: Sep 22, 2025
Changed: Aug 21
Last Checked: Aug 22 at 2:26PM
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 Lakes Region Realty
Investment Insights
Based on property information with market context.
This retail property comprises approximately 4.5 acres with multiple buildings and an operating retail business focused on feed, agricultural goods, and miscellaneous merchandise. The site was developed in 1983 and includes three existing curb cuts, providing separate access points for the current operation and potential site reconfiguration. An additional lot is included within the property, expanding the overall footprint for commercial use.
The property occupies the intersection of Route 202 and Route 5 at 262 Main Street in Waterboro, Maine. Reported traffic volume is 27,583, and the additional lot includes 420 feet of owned road frontage along Main Street and Old Mast Road. The property is designated commercial/village zoning, with one of the additional curb cuts providing access to the secondary lot.
The property occupies the intersection of Route 202 and Route 5 at 262 Main Street in Waterboro, Maine. Reported traffic volume is 27,583, and the additional lot includes 420 feet of owned road frontage along Main Street and Old Mast Road. The property is designated commercial/village zoning, with one of the additional curb cuts providing access to the secondary lot.
Key Highlights
- Approximately 4.5+/- acres with multiple buildings
- Three existing curb cuts at the Route 202 and Route 5 intersection
- Reported traffic count of 27,583
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
$77,988
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
3.44%
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%
$1,559,760
$1.6M
Cap Rate 7%
$1,114,114
$1.1M
Cap Rate 9%
$866,533
$866.5K
Market Conditions
NOI Build-Up for 6,422 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
$121.8K $18.96/SF
− Vacancy
−$10.3K −$1.61/SF
EGI
$111.4K $17.35/SF
− OpEx
−$33.4K −$5.20/SF
NOI
$78.0K $12.14/SF
Area
York County, ME
Vacancy
8.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
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%
$1,559,760
Cap Rate 7%
$1,114,114
Cap Rate 9%
$866,533
Alternative Uses
Best Use
Retail
$1.11M
$974.9K – $1.30M
NOI $77,988 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,502 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
27,583 VPD
Traffic count
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
55k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 51%
Dining 42%
Shops & Services 6%
Hannaford
Groceries
28,193 visits/mo
0.2 miles
Aroma Joe's
Dining
9,538 visits/mo
0.1 miles
Dunkin' Donuts
Dining
7,582 visits/mo
0.2 miles
SUBWAY
Dining
6,013 visits/mo
0.2 miles
Napa Auto Parts
Shops & Services
3,488 visits/mo
0.1 miles
Demographics for 04030, ME
2,239
Population
1,160
Households
1.9
Avg Household Size
44
Median Age
25%
College-Educated
97%
High-School Grad
15.4 sq mi
ZIP Area
145
Density / Sq Mi
$69,709
Median Household Income
$43,102
Median Earnings
$1,321
Median Rent
$326,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial/village zoning and three existing curb cuts support access across the site.
Where is this retail space located?
The property is located at 262 Main Street Waterboro, ME.
What is the asking price?
The asking price for this property is $2,270,000.
What are key features of this property?
This property features: Approximately 4.5+/- acres with multiple buildings; Three existing curb cuts at the Route 202 and Route 5 intersection; Reported traffic count of 27,583
