Building Details

Building Size 12,608 SF

Year Built 1750

Listing Agency: The Boulos Company

Listed By: Chris Gallagher Show Phone

Source: Boulos

Added: Mar 26 Changed: Oct 6 Last Checked: Oct 14 at 8:52PM

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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 The Boulos Company

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Investment Insights

Based on property information with market context.

Thompson Green presents an opportunity to acquire a property in Ogunquit, Maine, situated at the entrance to Perkins Cove and within walking distance of the downtown area. The property includes two buildings: The Plaza Building, a two-story commercial building with 10,736 square feet, and The Thompson House, a historic residential building with 1,872 square feet and previously approved expansion plans. The buildings are located on a 1.25-acre parcel that includes approximately 30 on-site parking spaces. The Plaza building contains restaurant infrastructure. The property's zoning and lot size allow for potential hospitality redevelopment. It is suitable for investors interested in re-tenanting or for owner-users looking to capitalize on the Ogunquit tourist community.

Key Highlights

• Prime location in the heart of desirable Ogunquit, ME, at the entrance to Perkins Cove and a short walk to downtown.
• Two buildings on a 1.25± acre parcel: a 10,736± SF commercial building (The Plaza Building) and an 1,872± SF historic residential building (The Thompson House).
• Flexible zoning and large lot size allow for potential redevelopment into hospitality.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$156,591

Cap Rate

3.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,131,820 $3.1M

Cap Rate 7%

$2,237,014 $2.2M

Cap Rate 9%

$1,739,900 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,608 SF

Gross rent

$272.3K $21.60/SF

− Vacancy

−$21.8K −$1.73/SF

EGI

$250.5K $19.87/SF

− OpEx

−$94.0K −$7.45/SF

NOI

$156.6K $12.42/SF

Area

York County, ME

Vacancy

8.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,131,820

Cap Rate 7%

$2,237,014

Cap Rate 9%

$1,739,900

Alternative Uses

Best Use

Mixed Use

$2.24M

$1.96M – $2.61M (±1% cap)

NOI $156,591 @ 7.0% cap · market cap 3.16%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.00M

$3.50M – $4.66M (±1% cap)

NOI $279,767 @ 7.0% cap · market cap 5.65%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Mixed-use properties

Suggested Use

Top Pick Auto Repair Shop Grocery & Convenience Store Big Box & Wholesale Store Pharmacy Kitchen & Bath Showroom Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

302

Businesses Nearby

Explore this area Business Placement

Demographics for 03907, ME

1,577

Population

2,106

Households

0.7

Avg Household Size

62

Median Age

68%

College-Educated

99%

High-School Grad

4.1 sq mi

ZIP Area

385

Density / Sq Mi

$104,250

Median Household Income

$72,778

Median Earnings

$1,736

Median Rent

$799,200

Median Home Value

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Historic Restaurant with Rooftop Deck

30 Shore Road, Ogunquit, ME 03907

$2,300,000

3,338 SF

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Rebuilt Oceanfront Duplex

117 Perkins Cove Rd, Ogunquit, ME 03907

$2,849,000

1,368 SF

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Lower-Level Office Condo

20 Shore Road, Ogunquit, ME 03907

$439,000

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Two buildings on 1.25 acres in the heart of Ogunquit.

Where is this mixed-use property located?

The property is located at 309 Shore Road Ogunquit, ME.

What is the asking price?

The asking price for this property is $4,950,000.

What are key features of this property?

This property features: Prime location in the heart of desirable Ogunquit, ME, at the entrance to Perkins Cove and a short walk to downtown.; Two buildings on a 1.25± acre parcel: a 10,736± SF commercial building (The Plaza Building) and an 1,872± SF historic residential building (The Thompson House).; Flexible zoning and large lot size allow for potential redevelopment into hospitality.