For-Sale Warehouse
For Sale
$599,000
408 Elm Street, Biddeford, ME 04005
Warehouse property for sale at 408 Elm Street, offering practical space for light industrial and storage uses.
Property Size1,650 SF
Price / SF$363.03
Days on Market187
Property Features for 408 Elm Street
General Information
Standard status
Active
Size
1,650 SF
Property subtype
Commercial
Building Details
Year Built
1950
Listing Agency:
Keller Williams Realty
Listed By:
Zachary Resnikoff
(603) 433-3350
Source:
Greatislandrealty
Added: Feb 17
Changed: Aug 23
Last Checked: Aug 22 at 9:51AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
The offering is a for-sale warehouse property totaling 1,650 square feet. It is presented as a commercial real estate asset suitable for users seeking dedicated enclosed space for storage and other light industrial needs. The listing information does not specify interior buildout details or additional improvements beyond the warehouse use.
The property is located at 408 Elm Street in Biddeford, Maine. As a street-addressed warehouse, it is positioned for straightforward access by vehicles associated with loading, distribution, or on-site operations, subject to confirmation of any site-specific access and loading arrangements.
This warehouse format can fit a range of tenant and buyer requirements where a defined enclosed area is important. Prospective occupants can evaluate the space for warehousing, inventory storage, and operational uses consistent with a warehouse environment. Because the available data does not describe ceiling height, bay configuration, or specific site utilities, due diligence should confirm the physical characteristics that matter most for the intended use before making a commitment.
The property is located at 408 Elm Street in Biddeford, Maine. As a street-addressed warehouse, it is positioned for straightforward access by vehicles associated with loading, distribution, or on-site operations, subject to confirmation of any site-specific access and loading arrangements.
This warehouse format can fit a range of tenant and buyer requirements where a defined enclosed area is important. Prospective occupants can evaluate the space for warehousing, inventory storage, and operational uses consistent with a warehouse environment. Because the available data does not describe ceiling height, bay configuration, or specific site utilities, due diligence should confirm the physical characteristics that matter most for the intended use before making a commitment.
Key Highlights
- Warehouse property for sale at 408 Elm Street
- Built in 1950
- Practical space suitable for light industrial and storage uses
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
$20,661
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
3.45%
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%
$413,220
$413.2K
Cap Rate 7%
$295,157
$295.2K
Cap Rate 9%
$229,567
$229.6K
Market Conditions
NOI Build-Up for 1,650 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
$24.8K $15.00/SF
− Vacancy
−$443 −$0.27/SF
EGI
$24.3K $14.73/SF
− OpEx
−$3.6K −$2.21/SF
NOI
$20.7K $12.52/SF
Area
York County, ME
Vacancy
1.79%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
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%
$413,220
Cap Rate 7%
$295,157
Cap Rate 9%
$229,567
Alternative Uses
Best Use
Warehouse
$295.2K
$258.3K – $344.4K
NOI $20,661 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$523.0K
$457.7K – $610.2K
NOI $36,613 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Life Storage - Biddeford — 11 Enterprise Dr, Biddeford, ME 04005
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- AAA Rent-A-Space — 50 W Cole Rd, Biddeford, ME 04005
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse property for sale at 408 Elm Street, offering practical space for light industrial and storage uses.
Where is this warehouse located?
The property is located at 408 Elm Street Biddeford, ME.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Warehouse property for sale at 408 Elm Street; Built in 1950; Practical space suitable for light industrial and storage uses
