Ogunquit Mixed-Use Redevelopment
309 Shore Rd Ogunquit, ME 03907
309 Shore Rd, Ogunquit, ME, 03907
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For Sale
Contact for pricing
Two buildings on 1.25 acres in the heart of Ogunquit.
Property Size12,608 SF
Lot Size1.25 Acres
Price / SF$392.61
Days on Market1466
Property Features for 309 Shore Rd
General Information
- Standard status
- Active
- Size
- 12,608 SF
- Lot size
- 1.25 Acres
- Property subtype
- Retail, Mixed Use
Building Details
- Year Built
- 1750
Listing Agency
The Boulos Company Portland
(207) 772-1333
Listed by
Christopher Gallagher · License #ME
Source
Crexi
Added: Jul 12, 2022 Checked: Jul 15 at 6:45 am
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 Portland
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.
Local Financial Insights For Mixed Use
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 | $272.3k | $21.60 |
| − Vacancy | −$21.8k | −$1.73 |
| EGI | $250.5k | $19.87 |
| − OpEx | −$94.0k | −$7.45 |
| NOI | $156.6k | $12.42 |
12,608 SF · lease $21.60/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$2.24M
$1.96M – $2.61M
NOI $156,591 @ 7.0% cap · market cap 3.16%
Second Best
Retail
$2.19M
$1.91M – $2.55M
NOI $153,110 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$4.00M
$3.50M – $4.66M
NOI $279,767 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Mixed-use properties
Similar For Sale Nearby
FAQs
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 Rd 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.
