Mixed-Use Property With
For Sale
$545,000
264 Sebago Road, Sebago, ME 04029
Commercial Sale, Sebago, ME
Property Size2,328 SF
Lot Size0.23 Acres
Price / SF$234.11
Days on Market10
Property Features for 264 Sebago Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Village
Rooms
Basement
Basement
Unfinished
Lot features
Rural
Standard status
Active
Size
2,328 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3408
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Heat Pump (Heating), Baseboard
Cooling system
Heat Pump
Water source
Private
Building Details
Year built
1954
Flooring type
Tile, Carpet
Building materials
Wood Frame, Wood Siding
Roof type
Shingle
Listing Agency:
PO-GO REALTY
(207) 839-3300
Listed By:
Peter Mason
(207) 632-8822
Added: Aug 13
Changed: Aug 19
Last Checked: Aug 22 at 4:06AM
MLS# 1676014
Copyright © 2026 Maine Listings. 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.
This 2,328-square-foot mixed-use property includes a first-floor restaurant and ice cream operation with equipment and the Richards' Dairy Delight business name included in the sale. The upper level contains a four-bedroom apartment, creating a combined commercial and residential configuration. Built in 1954, the building has wood-frame construction with wood siding, tile and carpet flooring, electric baseboard and heat-pump heating, heat-pump cooling, private water, septic service, and a shingle roof.
The 0.23-acre property is situated on Route 114 in Sebago, within the Village zoning district. Nearby destinations identified in the property information include the Town Beach, Long Beach Marina, Sportsman's Kitchen & Keg, Jordan's Store, Sebago Lake Marina, and Sebago Family Campground. The roadway is described with a 35MPH speed, and the site includes a basement.
The 0.23-acre property is situated on Route 114 in Sebago, within the Village zoning district. Nearby destinations identified in the property information include the Town Beach, Long Beach Marina, Sportsman's Kitchen & Keg, Jordan's Store, Sebago Lake Marina, and Sebago Family Campground. The roadway is described with a 35MPH speed, and the site includes a basement.
Key Highlights
- 2,328 square feet on a 0.23‑acre parcel
- First‑floor restaurant and ice cream business with equipment and the Richards' Dairy Delight name included
- Four‑bedroom apartment occupies the upper level
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
$38,274
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
7.02%
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%
$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
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
$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 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%
$765,480
Cap Rate 7%
$546,771
Cap Rate 9%
$425,267
Alternative Uses
Best Use
Apartment 5plus
$546.8K
$478.4K – $637.9K
NOI $38,274 @ 7.0% cap · market cap 7.02%
Second Best
Mixed Use
$413.1K
$361.4K – $481.9K
NOI $28,914 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$639.9K
$559.9K – $746.5K
NOI $44,790 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level commercial property combines an equipped restaurant and ice cream operation 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 square feet on a 0.23‑acre parcel; First‑floor restaurant and ice cream business with equipment and the Richards' Dairy Delight name included; Four‑bedroom apartment occupies the upper level
