Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    317 Main St Farmington, ME 04938

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Absolute NNN lease with renewal options and rent increases.

    Property size:
    14,775 SF
    Lot size:
    1.36 Acres

    Property Features for 317 Main St

    General Information

    Standard status
    Active
    Size
    14,775 SF
    Lot size
    1.36 Acres

    Building Details

    Year built
    2008

    We can help!

    Listing Contact
    Jason Pongsrikul
    Jason Pongsrikul
    Source: Crexi

    Listing Agency: Pharma Property Group Listing Agent: Jason Pongsrikul

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Walgreens Property in Farmington, ME

    The Walgreens property, situated at 317 Main Street, Farmington, ME 04938, is available for sale. The asset operates under an absolute net lease, transferring all landlord responsibilities to the tenant. The lease includes six 5-year renewal options, with rent increases of 10% scheduled during the first and third option periods. The property benefits from limited drugstore competition, with no other Walgreens within a 13-mile radius and no CVS locations within 26 miles, establishing it as the primary pharmacy provider in the area. It is the only national drugstore near MaineHealth Franklin Memorial Hospital, the region’s only full-service medical facility. The site is positioned along Route 27, a corridor connecting to the Canada–U.S. border at Coburn Gore, approximately 80 miles to the north. The University of Maine at Farmington, with an enrollment of 1,837 students and 149 faculty and staff, is located nearby. The property size is 14,775 square feet.
    Location Intelligence

    Current Use by Public Records

    Drug stores

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Walgreens Pharmacy, COVID-19 Drive-Thru Testing at Walgreens, Mychal Ward-Pistone, Marcia Rowland, Robert Witt

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    Franklin
    State
    Maine
    Longitude
    -70.1495626
    Latitude
    44.6637764

    Nearby Similar for Sale

    • $320,000
      1,181 SF

      Farmington Commercial Building on Route

      Commercial building with high visibility, ample parking, and versatile space.
      399 Wilton Rd, Farmington, ME 04938
      View Details
    • $349,000
      1,008 SF

      Turnkey Restaurant Opportunity in Farmington

      Fully equipped restaurant for sale in downtown Farmington, Maine.
      148 Wilton Rd, Farmington, ME 04938
      View Details
    • $399,000
      2,420 SF

      Commercial Building with Drive-Thru

      2400 sqft commercial building with drive-thru on 0.65 acres.
      670 Wilton Rd, Farmington, ME 04938
      View Details
    • $1,000,000
      4,284 SF

      Farmington Commercial Property For Sale

      Commercial property with office and manufacturing buildings on large lot.
      710 Wilton Rd, Farmington, ME 04938
      View Details
    • $695,000
      4,140 SF

      Farmington Commercial Property on Route 2

      High-visibility commercial property with redevelopment potential in Farmington, Maine.
      170 Wilton Rd, Farmington, ME 04938
      View Details
    • $409,900
      2,713 SF

      Turn-Key Party Supply Store

      Party supply store with rental unit in Farmington, Maine.
      103 Fyfe Rd, Farmington, ME 04938
      View Details
    • $198,700
      2,000 SF

      Farmington Multifamily Rehab Opportunity

      Two-unit property in Farmington, Maine, requiring complete rehabilitation.
      119 Town Farm Rd, Farmington, ME 04938
      View Details
    • Contact for pricing
      4,122 SF

      Turn-Key Farmington Diner Opportunity

      Fully operational restaurant for sale with real estate and business.
      367 Wilton Rd, Farmington, ME
      View Details
    • Contact for pricing
      8,320 SF

      Retail Property in Farmington, Maine

      Retail property with high traffic and ample parking.
      379 Wilton Rd, Farmington, ME
      View Details
    • $695,000
      2,368 SF

      Farmington Auto Repair Shop

      Established Business, Prime Location
      152 Farmington Falls Rd, Farmington, ME 04938
      View Details

    FAQs

    What type of property is this?
    Drug store - Absolute NNN lease with renewal options and rent increases.
    Where is this drug store located?
    The property is located at 317 Main St Farmington, ME.
    What are key features of this property?
    This property features: - Absolute net lease with no landlord responsibilities.; - Limited drugstore competition: **No other Walgreens within 13 miles and no CVS locations within 26 miles.**; - Six (5-year) renewal options with rent increases in option periods.
    Request Owner's contact information
    317 Main St Farmington, ME 04938
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    317 Main St
    Farmington, ME 04938
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    317 Main St Farmington, ME 04938
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jason Pongsrikul
    Jason Pongsrikul
    Real Estate License ID: 01918332
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!