Historic Stone Railroad
31 Main Avenue, Gardiner, ME 04345
For Sale
$975,000
Leased retail space combines durable stone construction with a separate waterfront parcel along the Kennebec River.
Property Size3,439 SF
Price / SF$283.51
Days on Market267
Property Features for 31 Main Avenue
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
Storage
Building Details
Building Size
Year Built
Buildings
Stories
Construction
Listing Agency:
Summit Real Estate
(207) 436-5555
Listed By:
Anna Boucher
(207) 314-5767
Source:
Integrityhomesrealestategroup
Added: Feb 18
Changed: Nov 11
Last Checked: Nov 11 at 2:11AM
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 Summit Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1911, this former Maine Central Railroad station is a Romanesque stone building with a granite basement and 3,439 square feet of commercial space. The property is leased to a retail operator under a triple net structure, with the tenant responsible for operating expenses. Zoning is Intown Commercial IT.
A separate lower parcel along the Kennebec River has its own access and was formerly used for parking. It is currently unused; any recreational or boat-access use would require approvals.
A separate lower parcel along the Kennebec River has its own access and was formerly used for parking. It is currently unused; any recreational or boat-access use would require approvals.
Key Highlights
- 3,439 square feet of commercial space
- 1911 construction; Romanesque stone exterior and granite basement
- Leased to a retail operator under a triple net lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,209
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,180
$664.2K
Cap Rate 7%
$474,414
$474.4K
Cap Rate 9%
$368,989
$369.0K
Market Conditions
NOI Build-Up for 3,439 SF
Gross rent
$49.5K $14.40/SF
− Vacancy
−$2.1K −$0.60/SF
EGI
$47.4K $13.80/SF
− OpEx
−$14.2K −$4.14/SF
NOI
$33.2K $9.66/SF
Area
Kennebec County, ME
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,180
Cap Rate 7%
$474,414
Cap Rate 9%
$368,989
Alternative Uses
Best Use
Retail
$474.4K
$415.1K – $553.5K
NOI $33,209 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$977.4K
$855.2K – $1.14M
NOI $68,419 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
126k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 35%
Dining 32%
Shops & Services 24%
Apparel 7%
Hannaford
Groceries
30,211 visits/mo
0.1 miles
McDonald's
Dining
23,680 visits/mo
0.2 miles
Cumberland Farms
Shops & Services
18,504 visits/mo
0.2 miles
Goggin's IGA
Groceries
13,584 visits/mo
0.3 miles
Reny's
Apparel
8,902 visits/mo
0.1 miles
Demographics for 04345, ME
12,052
Population
5,562
Households
2.2
Avg Household Size
43
Median Age
29%
College-Educated
97%
High-School Grad
71.7 sq mi
ZIP Area
168
Density / Sq Mi
$68,844
Median Household Income
$42,559
Median Earnings
$956
Median Rent
$208,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
NNN property - Leased retail space combines durable stone construction with a separate waterfront parcel along the Kennebec River.
Where is this nnn property located?
The property is located at 31 Main Avenue Gardiner, ME.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 3,439 square feet of commercial space; 1911 construction; Romanesque stone exterior and granite basement; Leased to a retail operator under a triple net lease
