Commercial Space with Live-Work
New
For Sale
$280,000
391 Main Street, Biddeford, ME 04005
Commercial zoning supports business use; residential occupancy would require municipal approval.
Property Size1,041 SF
Days on Market5
Property Features for 391 Main Street
General Information
Standard status
Active
Size
1,041 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,496
Building Details
Building Size
1,041 SF
Year Built
1940
Listing Agency:
Excellence Realty
Listed By:
Michael Snell
(207) 712-7975
Source:
Brickandbarngroup
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 3:02PM
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 Excellence Realty
Investment Insights
Based on property information with market context.
Built in 1940, this Main Street property is zoned for commercial use. A live-work arrangement may be possible, subject to City of Biddeford requirements and any necessary approvals. Buyers should confirm permitted uses and live-work conditions with the city before planning an occupancy or business use.
The property is in Biddeford, with access to downtown Biddeford, Saco, the Maine Turnpike, and nearby communities.
The property is in Biddeford, with access to downtown Biddeford, Saco, the Maine Turnpike, and nearby communities.
Key Highlights
- Commercial zoning
- Built in 1940
- Main Street address in Biddeford
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
$17,052
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
6.09%
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%
$341,040
$341.0K
Cap Rate 7%
$243,600
$243.6K
Cap Rate 9%
$189,467
$189.5K
Market Conditions
NOI Build-Up for 1,041 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
$26.0K $24.96/SF
− Vacancy
−$3.2K −$3.12/SF
EGI
$22.7K $21.84/SF
− OpEx
−$5.7K −$5.46/SF
NOI
$17.1K $16.38/SF
Area
York County, ME
Vacancy
12.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$341,040
Cap Rate 7%
$243,600
Cap Rate 9%
$189,467
Alternative Uses
Best Use
Office B
$243.6K
$213.2K – $284.2K
NOI $17,052 @ 7.0% cap · market cap 6.09%
Second Best
Mixed Use
$184.7K
$161.6K – $215.5K
NOI $12,929 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$330.0K
$288.7K – $385.0K
NOI $23,099 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Live-work space - Commercial zoning supports business use; residential occupancy would require municipal approval.
Where is this live-work space located?
The property is located at 391 Main Street Biddeford, ME.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Commercial zoning; Built in 1940; Main Street address in Biddeford
