Furnished Conventional
For Sale
$780,000
366 Elm Street, Biddeford, ME 04005
Established food-service property with substantial dining capacity, on-site parking, and additional space for rental income.
Property Size5,228 SF
Days on Market1304
Property Features for 366 Elm Street
General Information
Standard status
Active
Size
5,228 SF
Total Parking Spaces
40
Property subtype
Commercial
Zoning
B2
Additional Details
Furnished
Yes
Business Included
Yes
Seating Capacity
160
Taxes and HOA fees
Annual Taxes
$7,146
Building Details
Building Size
5,228 SF
Listing Agency:
Realty Sales Inc
(207) 985-4000
Listed By:
David Trottier
(207) 985-4000
Source:
Startpoint
Added: Jan 16, 2023
Changed: Aug 9
Last Checked: Aug 11 at 2:23PM
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 Realty Sales Inc
Investment Insights
Based on property information with market context.
TJ’s Pizza & Restaurant is a furnished conventional restaurant property at 366 Elm Street in Biddeford, Maine. The layout accommodates seating for 160 people, with central air conditioning and a security system supporting daily operations. The restaurant and its associated real estate are offered together.
Positioned at the 5 Points Intersection, the property benefits from a high-traffic setting. On-site parking accommodates 40 cars. Zoned B2, the building also includes space that may be configured to generate additional rental income when not required for restaurant operations.
Positioned at the 5 Points Intersection, the property benefits from a high-traffic setting. On-site parking accommodates 40 cars. Zoned B2, the building also includes space that may be configured to generate additional rental income when not required for restaurant operations.
Key Highlights
- Furnished restaurant and real estate at 366 Elm Street, Biddeford, ME 04005
- Seating capacity for 160 people
- On‑site parking for 40 cars
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
$64,932
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
8.32%
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%
$1,298,640
$1.3M
Cap Rate 7%
$927,600
$927.6K
Cap Rate 9%
$721,467
$721.5K
Market Conditions
NOI Build-Up for 5,228 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
$112.9K $21.60/SF
− Vacancy
−$9.0K −$1.73/SF
EGI
$103.9K $19.87/SF
− OpEx
−$39.0K −$7.45/SF
NOI
$64.9K $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 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%
$1,298,640
Cap Rate 7%
$927,600
Cap Rate 9%
$721,467
Alternative Uses
Best Use
Mixed Use
$927.6K
$811.7K – $1.08M
NOI $64,932 @ 7.0% cap · market cap 8.32%
Second Best
Retail
$907.0K
$793.6K – $1.06M
NOI $63,488 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $116,007 @ 7.0% cap · market cap 14.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
148k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Groceries 20%
Shops & Services 19%
Apparel 6%
Hannaford
Groceries
30,206 visits/mo
0.3 miles
McDonald's
Dining
25,415 visits/mo
0.1 miles
Burger King
Dining
18,059 visits/mo
0.1 miles
Dollar Tree
Shops & Services
17,827 visits/mo
0.3 miles
Starbucks
Dining
14,664 visits/mo
0.1 miles
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established food-service property with substantial dining capacity, on-site parking, and additional space for rental income.
Where is this conventional restaurant located?
The property is located at 366 Elm Street Biddeford, ME.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: Furnished restaurant and real estate at 366 Elm Street, Biddeford, ME 04005; Seating capacity for 160 people; On‑site parking for 40 cars
