Building Details

Year Built 1954

Listing Agency: PO-GO REALTY

Listed By: Peter Mason Show Phone

Source: Greatislandrealty

Added: Aug 6 Changed: Oct 6 Last Checked: Oct 5 at 9:26PM

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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 PO-GO REALTY

Investment Insights

Based on property information with market context.

Built in 1954, this 2,328-square-foot mixed-use property combines a first-floor restaurant and ice cream operation with a residential unit upstairs. The commercial space includes equipment, and the business name conveys with the sale. A four-bedroom apartment occupies the upper level and is currently rented, creating a separate residential component within the property.

The property is located at 264 Sebago Road in Sebago, Maine, along Route 114. Its setting places it near Town Beach, Long Beach Marina, Sportsman's Kitchen & Keg, Jordan's Store, Sebago Lake Marina, and Sebago Family Campground. Road frontage and steady traffic at 35MPH support the site's commercial exposure, while the combination of restaurant, ice cream, and apartment uses gives the building a clearly defined mixed-use configuration.

Key Highlights

• 2,328 SF mixed‑use property built in 1954
• First‑floor restaurant and ice cream operation with equipment included
• Business name conveys with the sale

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,274

Cap Rate

7.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$765,480 $765.5K

Cap Rate 7%

$546,771 $546.8K

Cap Rate 9%

$425,267 $425.3K

Market Conditions

NOI Build-Up for 2,328 SF

Gross rent

$74.0K $31.80/SF

− Vacancy

−$4.4K −$1.91/SF

EGI

$69.6K $29.89/SF

− OpEx

−$31.3K −$13.45/SF

NOI

$38.3K $16.44/SF

Area

Cumberland County, ME

Vacancy

6.00%

Lease Rate

$31.80 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$765,480

Cap Rate 7%

$546,771

Cap Rate 9%

$425,267

Alternative Uses

Best Use

Apartment 5plus

$546.8K

$478.4K – $637.9K (±1% cap)

NOI $38,274 @ 7.0% cap · market cap 7.02%

Second Best

Mixed Use

$413.1K

$361.4K – $481.9K (±1% cap)

NOI $28,914 @ 7.0% cap · market cap 5.31%

Theoretical Best

Office A

$639.9K

$559.9K – $746.5K (±1% cap)

NOI $44,790 @ 7.0% cap · market cap 8.22%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Electrical Service Auto Repair Shop Building Supply Furniture & Home Goods Florist Skin Care Clinic

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

1

Residential units

Turnkey business

Opportunity

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

38

Businesses Nearby

Explore this area Business Placement

Demographics for 04029, ME

1,917

Population

1,506

Households

1.3

Avg Household Size

47

Median Age

24%

College-Educated

87%

High-School Grad

32.9 sq mi

ZIP Area

58

Density / Sq Mi

$71,845

Median Household Income

$40,838

Median Earnings

$1,302

Median Rent

$272,900

Median Home Value

Market

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Restaurant and ice cream operations occupy the first floor, with a four-bedroom apartment above.

Where is this mixed-use property located?

The property is located at 264 Sebago Road Sebago, ME.

What is the asking price?

The asking price for this property is $545,000.

What are key features of this property?

This property features: 2,328 SF mixed‑use property built in 1954; First‑floor restaurant and ice cream operation with equipment included; Business name conveys with the sale